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UPDATE 1-Suncor profit beats, oil production falls [Reuters]

SUNCOR ENERGY (SU)  More Company Research Source: Reuters
Last suncor energy earnings: 5/1 08:05 pm Check Earnings Report
US:NYSE Investor Relations: suncor.com/investor-centre
PDF Suncor profit beats, oil production falls | Reuters Reuters Staff 2 Min Read CALGARY, Alberta (Reuters) - Suncor Energy Inc ( SU.TO ), Canada’s second-largest energy producer, posted a first-quarter profit that beat analyst expectations, as improved crude oil pricing and higher refining margins outweighed lower production. The Calgary-based company also said it would focus spending in 2018 on ramping up its two major growth projects; the Fort Hills oil sands project in Alberta and the Exxon Mobil Corp ( XOM.N )-led Hebron project off the province of Newfoundland and Labrador. Suncor said the ramp up at Fort Hills, its largest project, was ahead of schedule, with two extraction units operating, and a third expected to come online in the second half of 2018. The company’s operating profit, which excludes one-time items, jumped 21.3 percent to C$985 million ($766.4 million), or 60 Canadian cents per share, in the first quarter. Analysts had predicted earnings of 52 Canadian cents per [Read more]

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