A month has gone by since the last earnings report for Suncor Energy (SU - Free Report) . Shares have added about 8.9% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Suncor Energy due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.
Suncor Energy Q2 Earnings & Revenues Beat Estimates, Rise Y/YSuncor Energy reported second-quarter 2026 adjusted operating earnings of $2.33 per share, which beat the Zacks Consensus Estimate of $2.14 by 8.9%. Moreover, the bottom line increased significantly from the year-ago quarter’s reported figure of 51 cents. The outperformance was driven by stronger downstream margins, higher upstream price realizations and increased refined product sales volumes.
The Calgary, Alberta-based integrated oil and gas company’s operating revenues of $12.7 billion beat the Zacks Consensus Estimate of $10.3 billion by 22.4%. The top line also increased approximately 47.3% year over year, aided by record refined product sales, higher refinery production and stronger benchmark crack spreads.
Suncor Energy’s board of directors declared a quarterly dividend of 60 Canadian cents per share for its common shareholders of record as of Sept. 4, 2026. The payout, which remains unchanged from the previous quarter, will be made on Sept. 25.
During the quarter, the company distributed a total of C$1.8 billion to its shareholders, including over C$1 billion in share repurchases and over C$700 million in dividends. It generated C$5.3 billion in adjusted funds from operations and C$4 billion in free cash flow.
During the second quarter, Suncor Energy delivered upstream production of 760,900 barrels per day (bbls/d), down from 808,100 bbls/d in the year-ago quarter. However, refining throughput reached a second-quarter record of 470,600 bbls/d, compared with 442,300 bbls/d a year earlier, while refined product sales rose to 654,800 bbls/d from 600,500 bbls/d in the prior-year period.
Segmental PerformanceUpstream: The company recorded a total production of 760,900 bbls/d, down from 808,100 bbls/d in the year-ago quarter. However, the figure beat the consensus estimate of 755,000 bbls/d.
Total Oil Sands production was 690,100 bbls/d, down from 748,400 bbls/d in the year-ago quarter. Total Oil Sands bitumen production was 815,200 bbls/d, compared with 860,800 bbls/d in the prior-year period. This decrease was caused by the planned turnaround at Firebag.
Net synthetic crude oil and diesel production increased to 482,200 bbls/d from 438,200 bbls/d a year earlier, driven by fewer maintenance activities in the current quarter. Non-upgraded bitumen production decreased to 207,900 bbls/d from 310,200 bbls/d, primarily due to increased upgrader availability and decreased bitumen production.
Oil Sands adjusted operating earnings were C$2.6 billion, up from C$926 million in the prior-year quarter, backed by increased price realizations.
Exploration and Production (E&P) production rose to 70,800 bbls/d from 59,700 bbls/d in the year-ago period, driven by strong production across assets. Adjusted operating earnings in the segment increased to C$465 million from C$165 million, primarily driven by higher sales volumes and stronger price realizations.
Downstream: The segment was the key driver of the quarter’s strength. Refining and Marketing adjusted operating earnings surged to C$2.1 billion from C$404 million in the prior-year quarter, primarily fueled by higher benchmark crack spreads, a FIFO inventory valuation gain and increased refinery production and sales volumes. Refinery utilization was 92%, up from 87% in the prior-year quarter, reflecting Suncor Energy’s increased refining network nameplate capacity of 511,000 bbls/d.
Refined product sales climbed to 654,800 bbls/d, a 9% increase from 600,500 bbls/d in the prior-year quarter, supported by global market opportunities, including record jet fuel sales, while also delivering more domestic volumes through high-value retail channels. Moreover, the figure beat the consensus estimate of 596,000 bbls/d.
Financial PositionTotal expenses increased 20% to C$12.6 billion from the prior-year quarter. The cost of purchases of crude oil and products increased to C$6.4 billion in the second quarter of 2026, compared with C$5.1 billion in the prior-year quarter. Operating, selling and general expenses increased 8.1% to C$3.4 billion from the prior-year quarter, and Exploration expenses increased to C$17 million compared with C$4 million in the previous-year quarter.
Suncor Energy generated C$5.3 billion in adjusted funds from operations, up from C$2.7 billion in the prior-year quarter. Free funds flow increased to almost C$4 billion from C$981 million. The company returned nearly C$1.8 billion to its shareholders, including C$1 billion in share repurchases and over C$700 million in dividends.
Capital expenditures totaled C$1.3 billion, decreasing from the year-ago quarter of C$1.6 billion. As of June 30, 2026, Suncor Energy had cash and cash equivalents of C$5.4 billion and long-term debt of C$9.2 billion. Its debt-to-capitalization was 16%.
Guidance and Shareholder ReturnsSuncor Energy’s 2026 corporate guidance targets total production of 840,000-870,000 bbl/d, including 785,000-810,000 bbl/d from Oil Sands and 55,000-60,000 bbl/d from Exploration and Production. Refinery throughput is expected at 460,000-475,000 bbl/d, with utilization of 90%-93% and refined product sales of 600,000-620,000 bbl/d. Capital expenditures are guided at C$5.6-C$5.8 billion, led by C$3.8-C$3.9 billion for Oil Sands. Cash operating costs are expected at C$26-C$29/bbl for Oil Sands operations, C$33-C$36/bbl at Fort Hills and C$34-C$37/bbl at Syncrude. The guidance assumes Brent at $87/bbl and WTI at $80/bbl, while the company highlights operational reliability, maintenance execution, commodity prices and infrastructure as key factors that could affect results.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.
The consensus estimate has shifted 39.17% due to these changes.
VGM ScoresCurrently, Suncor Energy has a strong Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Charting a somewhat similar path, the stock has a score of A on the value side, putting it in the top 20% for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Suncor Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerSuncor Energy is part of the Zacks Oil and Gas - Integrated - Canadian industry. Over the past month, Cenovus Energy (CVE - Free Report) , a stock from the same industry, has gained 18.3%. The company reported its results for the quarter ended June 2026 more than a month ago.
Cenovus reported revenues of $12.59 billion in the last reported quarter, representing a year-over-year change of +41.4%. EPS of $1.11 for the same period compares with $0.33 a year ago.
Cenovus is expected to post earnings of $0.83 per share for the current quarter, representing a year-over-year change of +59.6%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
Cenovus has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.
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Stock to Watch: Suncor Energy (SU - Free Report) Founded in 1917, Alberta-based Suncor Energy, Inc. is Canada's premier integrated energy company. The company's operations include oil sands development and upgrading, conventional and offshore crude oil and gas production, petroleum refining, and product marketing. Suncor is one of the largest owners of oil sands in the world. The company has gained new oil sands properties to supplement its existing operations in northern Alberta, making it the dominant producer in the region where reserves are second only to Saudi Arabia.
SU is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Oils-Energy stock. SU has a Momentum Style Score of A, and shares are up 1.3% over the past four weeks.
For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.77 to $7.39 per share. SU boasts an average earnings surprise of +8.7%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, SU should be on investors' short list.
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It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
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Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Suncor Energy (SU - Free Report) Founded in 1917, Alberta-based Suncor Energy, Inc. is Canada's premier integrated energy company. The company's operations include oil sands development and upgrading, conventional and offshore crude oil and gas production, petroleum refining, and product marketing. Suncor is one of the largest owners of oil sands in the world. The company has gained new oil sands properties to supplement its existing operations in northern Alberta, making it the dominant producer in the region where reserves are second only to Saudi Arabia.
SU is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 9.13; value investors should take notice.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $1.77 to $7.39 per share. SU boasts an average earnings surprise of +8.7%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, SU should be on investors' short list.
Assenagon Asset Management S.A. lowered its stake in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 95.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 27,448 shares of the oil and gas producer’s stock after selling 584,268 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Suncor Energy were worth $1,476,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in shares of Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 398 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Suncor Energy in the second quarter valued at approximately $31,000. 1 North Wealth Services LLC acquired a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $32,000. Finally, Accent Capital Management LLC increased its holdings in shares of Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets A number of brokerages have issued reports on SU. Desjardins raised Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Friday, June 5th. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.
View Our Latest Stock Report on SU
Suncor Energy Price Performance Suncor Energy stock opened at $65.85 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $60.44 and a 200-day simple moving average of $61.08. The stock has a market cap of $77.75 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last posted its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same quarter in the prior year, the company posted $0.71 earnings per share. Equities analysts expect that Suncor Energy Inc. will post 7.13 EPS for the current fiscal year.
Suncor Energy Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.6%. Suncor Energy’s payout ratio is presently 32.04%.
Suncor Energy Profile (Free Report)
Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.
Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.
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Suncor Energy (SU) delivers peer-leading results, underpinned by long reserve life, integrated operations, and robust capital returns. SU trades at a discount to major oil peers despite superior reserve longevity and consistent execution across commodity cycles. Recent quarterly highlights include 100K BOPD Y/Y production growth, $5.3B AFF, and $1.8B in shareholder returns via buybacks and dividends.
Key Takeaways Suncor Energy raises monthly share repurchases to C$500 million, targeting C$4.7 billion in 2026.Suncor generated C$5.3 billion in adjusted funds from operations and C$4 billion in free funds flow.SU's net debt fell to C$4.5 billion, but commodity prices and operating disruptions could weigh on returns. Suncor Energy (SU - Free Report) is increasing the pace of capital returns after a second quarter marked by record-matching adjusted funds from operations and record free funds flow per share. The company plans to lift monthly share repurchases to C$500 million beginning in August 2026.
The higher buyback raises an important question for investors. Can Suncor sustain that pace when oil prices, refining margins and operating conditions become less favorable?
Suncor Raises Its Monthly Buyback AgainThe C$500 million monthly pace is up from C$350 million and marks Suncor’s second increase this year. The company entered 2026 repurchasing C$275 million of shares per month before raising the amount to C$350 million in April.
Suncor now projects C$4.7 billion of share repurchases for 2026. The emphasis on cash returns is also visible among Canadian energy peers. Canadian Natural Resources Limited (CNQ - Free Report) has tied its capital-allocation framework to direct shareholder returns, while Imperial Oil Limited (IMO - Free Report) renewed a normal course issuer bid in June 2026 that permits repurchases of up to 5% of its outstanding common shares.
Suncor Energy has also outperformed its Canadian energy peers over the past year, with its share price rising 61.8%, compared with 58% for Canadian Natural Resources and 54.5% for Imperial Oil. The stronger share-price performance highlights the market’s favorable view of Suncor’s improving cash generation, balance sheet and capital returns.
Suncor’s Share Price Outpaces Canadian Energy Peers
Image Source: Zacks Investment Research
SU’s Record Cash Flow Funds the Higher ReturnsSuncor generated C$5.3 billion of adjusted funds from operations in the second quarter, matching its quarterly record. Free funds flow reached about C$4 billion, with free funds flow per share setting an all-time quarterly record at C$3.38.
The company returned C$1.8 billion to shareholders during the quarter. That included C$1.1 billion of share repurchases and C$706 million of dividends, underscoring the scale of cash distributed alongside the stronger buyback pace.
Suncor’s Lower Net Debt Expands Its FlexibilityNet debt ended the second quarter at C$4.5 billion, down from C$6.8 billion at the end of the first quarter and C$7.7 billion a year earlier. Management described the quarter-end level as 75% below where Suncor began the decade.
That lower leverage gives Suncor more room to return excess cash while retaining balance-sheet flexibility. For an energy producer whose earnings and cash flow can move sharply with commodity prices and operating conditions, the smaller debt burden provides an important cushion.
SU’s Commodity Exposure Tests Buyback DurabilityThe main challenge is that Suncor’s cash generation remains tied to commodity markets. Its 2026 guidance indicates that a $1-per-barrel change in West Texas Intermediate crude could affect full-year adjusted funds from operations by about C$190 million. A $1-per-barrel move in the New York Harbor 2-1-1 refining crack could have an estimated C$180 million impact.
Operating disruptions add another variable. Unusual precipitation and snowmelt reduced second-quarter mining productivity by an estimated 50,000-60,000 barrels per day. Suncor also expects 2026 capital spending of C$5.6-C$5.8 billion, meaning higher shareholder returns must coexist with substantial investment, sustainment and maintenance requirements.
Image Source: Suncor Energy Inc.
Suncor’s Ratings Back Quality but Keep Expectations BalancedSuncor’s larger buyback is supported by strong current cash generation and a materially lower debt load. The balance sheet gives the company flexibility, but the durability of C$500 million in monthly repurchases will still depend on commodity prices, refining economics and operating execution.
SU currently carries a Zacks Rank #3 (Hold). It also has a Value Score of A, Growth Score of A, Momentum Score of A and VGM Score of A. Those Style Scores indicate favorable characteristics across several investment styles, while the Hold rank keeps the near-term view measured. The combination supports a balanced assessment rather than a clear buy signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Suncor Energy (NYSE:SU) said its second-quarter results reflected the completion of major maintenance work and record cash generation, despite unusually severe weather that reduced mining productivity in the Fort McMurray region.
President and Chief Executive Officer Rich Kruger said record rainfall and snow melt during the quarter, with precipitation 50% above the 10-year average and the highest in more than 30 years, affected mining operations. The company estimated the weather reduced second-quarter production by 50,000 to 60,000 barrels per day.
Upstream production averaged 761,000 barrels per day in the quarter. However, Kruger said operations had returned to expected rates by late in the second quarter, with preliminary July production of about 870,000 barrels per day, which would represent Suncor’s second-highest July output on record.
Weather response and maintenance execution Management said it is incorporating lessons from the weather event into mine planning and operations. Measures include 48- and 72-hour weather outlooks, ore stockpiles in vulnerable areas, pre-securing materials and equipment such as gravel and graders, and using drones to monitor mine conditions in real time.
Peter Zebedee, executive vice president of upstream, said the company has also advanced its autonomous-haulage “mud mode” software. He said slippage events have fallen 80% from the initial version of the system.
Suncor completed a major Firebag turnaround involving its Plants 93 and 94, which together process roughly two-thirds of Firebag’s 250,000-barrel-per-day capacity. The company completed the work in 44 days at a cost of C$118 million, compared with 58 days and C$150 million for a similar turnaround in 2022.
Kruger said the turnaround’s production impact was 60,000 barrels per day in the second quarter, 25,000 barrels per day better than the company had planned. The work also extended the next planned turnaround cycle for the two plants to five years from four years historically.
At Base Plant, the U2 Coker turnaround was completed in 46 days, compared with 60 days in 2021, at a cost of C$203 million, down from C$225 million for the prior event. Commerce City refinery maintenance took 50 days, compared with 74 days in 2021.
The company said it remains on track to reduce annual turnaround capital by C$400 million, a target it raised on March 31. Suncor had originally targeted C$250 million in annual reductions over three years and said it reached that objective in two years.
Refining and sales set second-quarter records Upgrader utilization was 93% during the quarter following completion of Base Plant spring maintenance. Year-to-date utilization reached 94%, which Kruger described as a first-half record.
Refining throughput was 471,000 barrels per day, Suncor’s second-highest second-quarter level, while network utilization was 92% on its rerated 511,000-barrel-per-day capacity. Montreal and Edmonton, its two largest refineries, processed 151,000 and 161,000 barrels per day, respectively, with combined utilization of 99%.
Product sales reached a second-quarter record of 655,000 barrels per day, marking Suncor’s eighth consecutive quarter with sales exceeding 600,000 barrels per day. Jet fuel sales were a record 51,000 barrels per day as the company adjusted its product slate to capture global market value.
Dave Oldreive, executive vice president of downstream, said export capabilities built over several years helped drive sales. Through Burrard and Montreal, Suncor exported 56 cargoes during the first half, nearly matching the 58 cargoes it shipped during all of 2025.
Oldreive said the company increased its West Coast export capacity from three to four cargoes per month last year to five cargoes per month in early 2026, reaching six cargoes in May. In Montreal, Suncor developed a zero-cost logistics option to export jet fuel, enabling it to export 22,000 barrels per day in the second quarter. The company said it now has capacity to export about 25,000 barrels per day of jet fuel from Montreal if market conditions support it.
Cash flow, balance sheet and shareholder returns Chief Financial Officer Troy Little said adjusted funds from operations totaled C$5.3 billion, nearly double the prior-year level and equal to Suncor’s all-time quarterly record set in the second quarter of 2022. Adjusted funds from operations per share were C$4.52, nearly 20% above the comparable 2022 quarter, despite average WTI prices being about C$15 per barrel lower, according to Little.
Downstream adjusted funds from operations reached a record C$2.3 billion. Little said the company reported 89% margin capture, but said that excluding the impact of higher renewable volume obligation pricing, margin capture would have been 99%.
Net debt ended the quarter at C$4.5 billion, down 75% from the start of the decade. Suncor returned C$1.8 billion to shareholders during the quarter, including C$1.1 billion in share repurchases and C$706 million in dividends.
The company said it will raise its share repurchase program to C$500 million per month, or C$1.5 billion per quarter, beginning this week. That follows increases from C$275 million per month at the start of 2026 to C$350 million per month in April.
Little said Suncor intends to provide predictable shareholder returns through the commodity cycle while retaining flexibility for material changes in market conditions. He added that management continues to evaluate both dividends and buybacks to meet the preferences of different shareholders.
Second-half outlook and growth optionality Management maintained its upstream guidance and said it expects a stronger second half as major maintenance concludes. The company has one major upstream event remaining in the third quarter, a planned Syncrude coke outage expected to begin Aug. 20 and last 50 days. Downstream maintenance is also scheduled at Montreal and Edmonton.
Kruger said Suncor continues to prepare for potential future growth from its resource base, including work such as seismic activity and delineation drilling. However, he said the company has not shifted to an accelerated growth strategy and will remain disciplined in capital allocation.
Management also said it sees improved policy discussions in Canada following a non-binding memorandum of understanding between five oil sands companies and federal and provincial governments. Kruger said there is still substantial work required to convert those ambitions into definitive agreements and that Suncor’s outlook is not materially different from six months ago.
About Suncor Energy (NYSE:SU) Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.
Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.
Key Takeaways Suncor Energy's Q2 earnings and revenues beat estimates, rising sharply year over year.Refining and Marketing earnings surged on stronger crack spreads, production and sales volumes.SU returned C$1.8 billion to shareholders while generating C$5.3 billion in adjusted funds from operations. Suncor Energy Inc. (SU - Free Report) reported second-quarter 2026 adjusted operating earnings of $2.33 per share, which beat the Zacks Consensus Estimate of $2.14 by 8.9%. Moreover, the bottom line increased significantly from the year-ago quarter’s reported figure of 51 cents. The outperformance was driven by stronger downstream margins, higher upstream price realizations and increased refined product sales volumes.
The Calgary, Alberta-based integrated oil and gas company’s operating revenues of $12.7 billion beat the Zacks Consensus Estimate of $10.3 billion by 22.4%. The top line also increased approximately 47.3% year over year, aided by record refined product sales, higher refinery production and stronger benchmark crack spreads.
Suncor Energy’s board of directors declared a quarterly dividend of 60 Canadian cents per share for its common shareholders of record as of Sept. 4, 2026. The payout, which remains unchanged from the previous quarter, will be made on Sept. 25.
During the quarter, the company distributed a total of C$1.8 billion to its shareholders, including over C$1 billion in share repurchases and over C$700 million in dividends. It generated C$5.3 billion in adjusted funds from operations and C$4 billion in free cash flow.
During the second quarter, Suncor Energy delivered upstream production of 760,900 barrels per day (bbls/d), down from 808,100 bbls/d in the year-ago quarter. However, refining throughput reached a second-quarter record of 470,600 bbls/d, compared with 442,300 bbls/d a year earlier, while refined product sales rose to 654,800 bbls/d from 600,500 bbls/d in the prior-year period.
Q2 Segmental Performance of SUUpstream: The company recorded a total production of 760,900 bbls/d, down from 808,100 bbls/d in the year-ago quarter. However, the figure beat the consensus estimate of 755,000 bbls/d.
Total Oil Sands production was 690,100 bbls/d, down from 748,400 bbls/d in the year-ago quarter. Total Oil Sands bitumen production was 815,200 bbls/d, compared with 860,800 bbls/d in the prior-year period. This decrease was caused by the planned turnaround at Firebag.
Net synthetic crude oil and diesel production increased to 482,200 bbls/d from 438,200 bbls/d a year earlier, driven by fewer maintenance activities in the current quarter. Non-upgraded bitumen production decreased to 207,900 bbls/d from 310,200 bbls/d, primarily due to increased upgrader availability and decreased bitumen production.
Oil Sands adjusted operating earnings were C$2.6 billion, up from C$926 million in the prior-year quarter, backed by increased price realizations.
Exploration and Production (E&P) production rose to 70,800 bbls/d from 59,700 bbls/d in the year-ago period, driven by strong production across assets. Adjusted operating earnings in the segment increased to C$465 million from C$165 million, primarily driven by higher sales volumes and stronger price realizations.
Downstream: The segment was the key driver of the quarter’s strength. Refining and Marketing adjusted operating earnings surged to C$2.1 billion from C$404 million in the prior-year quarter, primarily fueled by higher benchmark crack spreads, a FIFO inventory valuation gain and increased refinery production and sales volumes. Refinery utilization was 92%, up from 87% in the prior-year quarter, reflecting Suncor Energy’s increased refining network nameplate capacity of 511,000 bbls/d.
Refined product sales climbed to 654,800 bbls/d, a 9% increase from 600,500 bbls/d in the prior-year quarter, supported by global market opportunities, including record jet fuel sales, while also delivering more domestic volumes through high-value retail channels. Moreover, the figure beat the consensus estimate of 596,000 bbls/d.
SU’s Financial PositionTotal expenses increased 20% to C$12.6 billion from the prior-year quarter. The cost of purchases of crude oil and products increased to C$6.4 billion in the second quarter of 2026, compared with C$5.1 billion in the prior-year quarter. Operating, selling and general expenses increased 8.1% to C$3.4 billion from the prior-year quarter, and Exploration expenses increased to C$17 million compared with C$4 million in the previous-year quarter.
Suncor Energy generated C$5.3 billion in adjusted funds from operations, up from C$2.7 billion in the prior-year quarter. Free funds flow increased to almost C$4 billion from C$981 million. The company returned nearly C$1.8 billion to its shareholders, including C$1 billion in share repurchases and over C$700 million in dividends.
Capital expenditures totaled C$1.3 billion, decreasing from the year-ago quarter of C$1.6 billion. As of June 30, 2026, Suncor Energy had cash and cash equivalents of C$5.4 billion and long-term debt of C$9.2 billion. Its debt-to-capitalization was 16%.
2026 Guidance by Suncor EnergySuncor Energy’s 2026 corporate guidance targets total production of 840,000-870,000 bbl/d, including 785,000-810,000 bbl/d from Oil Sands and 55,000-60,000 bbl/d from Exploration and Production. Refinery throughput is expected at 460,000-475,000 bbl/d, with utilization of 90%-93% and refined product sales of 600,000-620,000 bbl/d. Capital expenditures are guided at C$5.6-C$5.8 billion, led by C$3.8-C$3.9 billion for Oil Sands. Cash operating costs are expected at C$26-C$29/bbl for Oil Sands operations, C$33-C$36/bbl at Fort Hills and C$34-C$37/bbl at Syncrude. The guidance assumes Brent at $87/bbl and WTI at $80/bbl, while the company highlights operational reliability, maintenance execution, commodity prices and infrastructure as key factors that could affect results.
SU currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Important Earnings at a GlanceWhile we have discussed SU’s second-quarter results in detail, let us take a look at three other key reports in this space.
Imperial Oil Limited (IMO - Free Report) reported second-quarter 2026 adjusted earnings per share of $3.27, which beat the Zacks Consensus Estimate of $2.99 and increased from the year-ago quarter’s $1.34, driven by higher price realizations.
Revenues of $11.6 billion missed the Zacks Consensus Estimate of $11.8 billion. However, the top line increased significantly from the year-ago quarter’s level of $8.1 billion, backed by strong performance in both the Upstream and Downstream segments.
As of June 30, 2026, Imperial Oil had cash and cash equivalents of C$2.8 billion. Total debt of the company amounted to C$3.96 billion, with a debt-to-capitalization of 13.9%.
Pembina Pipeline Corporation (PBA - Free Report) reported second-quarter 2026 earnings per share of 48 cents, which missed the Zacks Consensus Estimate of 49 cents. However, it increased from the year-ago quarter’s level of 47 cents. This improvement was primarily driven by strong underlying operational performance and volume growth across the Pipelines and Facilities and Marketing & New Ventures divisions.
This Calgary-based oil and gas storage and transportation company’s quarterly sales of $1.55 billion increased about 20% year over year, driven by higher revenue performance across all three segments.
As of June 30, 2026, PBA had cash and cash equivalents worth C$153 million and C$19.8 billion in long-term debt. Debt-to-capitalization was 53.7%.
Diamondback Energy, Inc. (FANG - Free Report) reported second-quarter 2026 adjusted earnings per share of $6.48, which beat the Zacks Consensus Estimate of $5.96 and more than doubled from the year-ago adjusted profit of $2.67. The outperformance was driven by production growth and a 53.1% improvement in the year-over-year realized oil prices.
This Midland, TX-based oil and gas exploration and production company’s revenues of $5.6 billion increased more than 51% from the year-ago quarter and topped the Zacks Consensus Estimate by about 17%, fueled primarily by higher sales of oil, natural gas and natural gas liquids, increased sales of purchased oil and higher revenues from other operating income.
As of June 30, the Permian-focused operator had approximately $462 million in cash and cash equivalents and $11.1 billion in long-term debt, representing a debt-to-capitalization of 20.1%.
3 Overlooked Energy ETFs Delivering Strong Returns and IncomeSuncor Energy NYSE: SU said its second-quarter results reflected the completion of major maintenance work and record cash generation, despite unusually severe weather that reduced mining productivity in the Fort McMurray region.
President and Chief Executive Officer Rich Kruger said record rainfall and snow melt during the quarter, with precipitation 50% above the 10-year average and the highest in more than 30 years, affected mining operations. The company estimated the weather reduced second-quarter production by 50,000 to 60,000 barrels per day.
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It's Time to Take Profits on These 2 Overbought Energy StocksUpstream production averaged 761,000 barrels per day in the quarter. However, Kruger said operations had returned to expected rates by late in the second quarter, with preliminary July production of about 870,000 barrels per day, which would represent Suncor's second-highest July output on record.
Weather response and maintenance execution Management said it is incorporating lessons from the weather event into mine planning and operations. Measures include 48- and 72-hour weather outlooks, ore stockpiles in vulnerable areas, pre-securing materials and equipment such as gravel and graders, and using drones to monitor mine conditions in real time.
3 Stocks Built for America’s Affordable Housing RealityPeter Zebedee, executive vice president of upstream, said the company has also advanced its autonomous-haulage “mud mode” software. He said slippage events have fallen 80% from the initial version of the system.
Suncor completed a major Firebag turnaround involving its Plants 93 and 94, which together process roughly two-thirds of Firebag's 250,000-barrel-per-day capacity. The company completed the work in 44 days at a cost of C$118 million, compared with 58 days and C$150 million for a similar turnaround in 2022.
Kruger said the turnaround's production impact was 60,000 barrels per day in the second quarter, 25,000 barrels per day better than the company had planned. The work also extended the next planned turnaround cycle for the two plants to five years from four years historically.
At Base Plant, the U2 Coker turnaround was completed in 46 days, compared with 60 days in 2021, at a cost of C$203 million, down from C$225 million for the prior event. Commerce City refinery maintenance took 50 days, compared with 74 days in 2021.
The company said it remains on track to reduce annual turnaround capital by C$400 million, a target it raised on March 31. Suncor had originally targeted C$250 million in annual reductions over three years and said it reached that objective in two years.
Refining and sales set second-quarter records Upgrader utilization was 93% during the quarter following completion of Base Plant spring maintenance. Year-to-date utilization reached 94%, which Kruger described as a first-half record.
Refining throughput was 471,000 barrels per day, Suncor's second-highest second-quarter level, while network utilization was 92% on its rerated 511,000-barrel-per-day capacity. Montreal and Edmonton, its two largest refineries, processed 151,000 and 161,000 barrels per day, respectively, with combined utilization of 99%.
Product sales reached a second-quarter record of 655,000 barrels per day, marking Suncor's eighth consecutive quarter with sales exceeding 600,000 barrels per day. Jet fuel sales were a record 51,000 barrels per day as the company adjusted its product slate to capture global market value.
Dave Oldreive, executive vice president of downstream, said export capabilities built over several years helped drive sales. Through Burrard and Montreal, Suncor exported 56 cargoes during the first half, nearly matching the 58 cargoes it shipped during all of 2025.
Oldreive said the company increased its West Coast export capacity from three to four cargoes per month last year to five cargoes per month in early 2026, reaching six cargoes in May. In Montreal, Suncor developed a zero-cost logistics option to export jet fuel, enabling it to export 22,000 barrels per day in the second quarter. The company said it now has capacity to export about 25,000 barrels per day of jet fuel from Montreal if market conditions support it.
Cash flow, balance sheet and shareholder returns Chief Financial Officer Troy Little said adjusted funds from operations totaled C$5.3 billion, nearly double the prior-year level and equal to Suncor's all-time quarterly record set in the second quarter of 2022. Adjusted funds from operations per share were C$4.52, nearly 20% above the comparable 2022 quarter, despite average WTI prices being about C$15 per barrel lower, according to Little.
Downstream adjusted funds from operations reached a record C$2.3 billion. Little said the company reported 89% margin capture, but said that excluding the impact of higher renewable volume obligation pricing, margin capture would have been 99%.
Net debt ended the quarter at C$4.5 billion, down 75% from the start of the decade. Suncor returned C$1.8 billion to shareholders during the quarter, including C$1.1 billion in share repurchases and C$706 million in dividends.
The company said it will raise its share repurchase program to C$500 million per month, or C$1.5 billion per quarter, beginning this week. That follows increases from C$275 million per month at the start of 2026 to C$350 million per month in April.
Little said Suncor intends to provide predictable shareholder returns through the commodity cycle while retaining flexibility for material changes in market conditions. He added that management continues to evaluate both dividends and buybacks to meet the preferences of different shareholders.
Second-half outlook and growth optionality Management maintained its upstream guidance and said it expects a stronger second half as major maintenance concludes. The company has one major upstream event remaining in the third quarter, a planned Syncrude coke outage expected to begin Aug. 20 and last 50 days. Downstream maintenance is also scheduled at Montreal and Edmonton.
Kruger said Suncor continues to prepare for potential future growth from its resource base, including work such as seismic activity and delineation drilling. However, he said the company has not shifted to an accelerated growth strategy and will remain disciplined in capital allocation.
Management also said it sees improved policy discussions in Canada following a non-binding memorandum of understanding between five oil sands companies and federal and provincial governments. Kruger said there is still substantial work required to convert those ambitions into definitive agreements and that Suncor's outlook is not materially different from six months ago.
About Suncor Energy (NYSE:SU)Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company's operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.
Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.
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Calgary, Alberta--(Newsfile Corp. - August 6, 2026) - Suncor Energy's (TSX: SU) (NYSE: SU) Board of Directors today announced plans for Rich Kruger, current President and Chief Executive Officer, to transition to the role of Executive Vice Chair in April 2027. Peter Zebedee, currently Executive Vice President Upstream, will be named President and Chief Executive Officer concurrent with Rich assuming his new role.
General view of the Suncor Energy refinery in Sarnia, Ontario, Canada March 20, 2021. REUTERS/Carlos Osorio Purchase Licensing Rights, opens new tab
CompaniesAug 6 (Reuters) - Canada's Suncor Energy (SU.TO), opens new tab on Thursday named insider Peter Zebedee its next CEO, and said Chief Financial Officer Troy Little left the company.
Zebedee, currently executive vice president of Suncor's upstream business, will succeed Rich Kruger as president and chief executive in April 2027 — when Kruger transitions to executive vice chair, the company said.
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As part of the succession plan, Zebedee will become president and CFO on September 14, overseeing all non-operating functions while working alongside Kruger to ensure leadership transition.
Suncor did not disclose why Little left.
Zebedee joined Suncor in 2022 after serving as CEO of LNG Canada. He previously held senior roles at Shell (SHEL.L), opens new tab, Petro-Canada and Syncrude and has more than three decades of experience in the energy industry.
Reporting by Arunima Kumar in Bengaluru; Editing by Joyjeet Das
Our Standards: The Thomson Reuters Trust Principles., opens new tab
, /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together hold a significant investment in Suncor Energy, Inc. (NYSE: SU) ("Suncor" or the "Company"), today issued the following statement:
Elliott congratulates Rich Kruger on his announced upcoming transition from President and CEO of Suncor to the role of Executive Vice Chair, effective April 2027. We are also confident that Peter Zebedee is the right successor to Rich, and we look forward to the continuity and momentum his appointment as CEO will bring when he assumes the role next year.
Under Rich's leadership, Suncor has undergone a profound transformation – improving safety, instilling a culture of operational excellence and unlocking substantial value for shareholders. Earlier this year, Rich, Peter and the Suncor team laid out an ambitious three-year plan, which will build upon the historic progress the Company has made on Rich's watch.
We believe Suncor will continue to benefit from Rich's experience and perspectives in his new role, ensuring that the standards and culture he built will continue to define Suncor going forward, while Peter's operational expertise and deep knowledge of the business make him Rich's ideal successor.
About Elliott
Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately $79.8 billion of assets as of December 31, 2025. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.
Suncor Energy is not yet willing to accelerate plans for production increases, the company's CEO said on Wednesday, despite large-scale policy reforms promised by the federal and Alberta governments in an effort to spur growth in Canada's oil industry.
Calgary, Alberta--(Newsfile Corp. - 4 août 2026) - Le conseil d'administration de Suncor Énergie (TSX : SU) (NYSE : SU) a approuvé un dividende trimestriel de 0,60 $ par action sur ses actions ordinaires, payable le 25 septembre 2026 aux actionnaires inscrits à la fermeture des bureaux le 4 septembre 2026.
Suncor Énergie - la plus importante société énergétique intégrée du Canada
Les activités de Suncor couvrent l'ensemble de la chaîne de valeur énergétique, incluant les activités d'exploitation minière et in situ des sables bitumineux, la valorisation, la production extracôtière, le raffinage du pétrole au Canada et aux États-Unis, la commercialisation et les échanges commerciaux, ainsi que les réseaux de ventes au détail et de ventes en gros Petro-CanadaMC à l'échelle nationale - fournissant de l'énergie fiable qui alimente la croissance économique et répond aux besoins des clients partout au Canada et dans le monde. Grâce à un engagement inébranlable envers la sécurité, l'excellence opérationnelle et la rentabilité, Suncor est déterminée à atteindre un rendement parmi les meilleurs de l'industrie et à offrir une valeur à long terme aux actionnaires. Les actions ordinaires de Suncor (symbole : SU) sont inscrites à la Bourse de Toronto et à la Bourse de New York.
Pour consulter la version originale de ce communiqué de presse, visitez le https://www.newsfilecorp.com/release/307977
Sauf indication contraire, toute l'information financière est non auditée et présentée en dollars canadiens ($ CA), et elle est tirée des états financiers consolidés résumés de la Société, qui sont fondés sur les principes comptables généralement reconnus (les « PCGR ») du Canada, plus précisément les Normes internationales d'information financière (les « IFRS ») publiées par l'International Accounting Standards Board (l'« IASB »), et qui ont été préparés conformément à la Norme comptable internationale (« IAS ») 34, Information financière intermédiaire. Les volumes de production sont présentés selon la participation directe avant redevances, sauf pour les valeurs de production liées aux activités de la Société en Libye, qui sont présentées selon un prix raisonnable. Certaines mesures financières dans le présent communiqué (fonds provenant de l'exploitation ajustés, résultat d'exploitation ajusté, flux de trésorerie disponibles et dette nette) ne sont pas prescrites par les principes comptables généralement reconnus (les « PCGR ») du Canada. Se reporter à la rubrique « Mesures financières hors PCGR » du présent communiqué. Les informations concernant les activités du secteur Sables pétrolifères ne tiennent pas compte de la propriété par Suncor Énergie Inc. de Fort Hills et de sa participation dans Syncrude.
Fonds provenant de l'exploitation ajustés égalant le record trimestriel de 5,3 G$ et record trimestriel historique par action de 4,52 $.
Flux de trésorerie disponibles générés de 4,0 G$ et record trimestriel historique par action de 3,38 $, soit plus du quadruple par rapport au trimestre correspondant de l'exercice précédent.
Redistribution de près de 1,8 G$ aux actionnaires, ce qui comprend des rachats d'actions de plus de 1,0 G$ et des dividendes de plus de 700 M$.
À compter d'août 2026, Suncor prévoit augmenter les rachats d'actions mensuels, pour les porter de 350 M$ à 500 M$.
Production en amont de 761 000 b/j au deuxième trimestre et taux d'utilisation record des installations de valorisation de 94 % pour un premier semestre.
Débit de raffinage record pour un deuxième trimestre de 471 000 b/j et ventes de produits raffinés records pour un deuxième trimestre de 655 000 b/j.
« Au deuxième trimestre, Suncor a dégagé des fonds provenant de l'exploitation trimestriels records de 3,38 $ par action, ce qui témoigne des progrès accomplis pour améliorer le rendement de l'entreprise et accroître la valeur pour les actionnaires », a déclaré Rich Kruger, président et chef de la direction. « Nos activités en aval ont affiché une performance exemplaire au cours du trimestre. Elles ont généré des fonds provenant de l'exploitation ajustés trimestriels records ainsi qu'un débit de raffinage et des ventes de produits raffinés records pour un deuxième trimestre, ce qui confirme la solidité de notre modèle intégré et sa capacité à générer d'importants flux de trésorerie dans diverses conditions de marché. »
Résultats du deuxième trimestre
Faits saillants financiersT2T1T2(en millions de dollars, sauf indication contraire)202620262025Bénéfice net 3 732 2 100 1 134Par action ordinaire1) (en dollars) 3,17 1,77 0,93Résultat d'exploitation ajusté2) 3 804 2 300 873Par action ordinaire1), 2) (en dollars) 3,23 1,93 0,71Fonds provenant de l'exploitation ajustés2) 5 329 4 030 2 689Par action ordinaire1), 2) (en dollars) 4,52 3,39 2,20Flux de trésorerie liés aux activités d'exploitation 5 655 2 435 2 919Par action ordinaire1) (en dollars) 4,80 2,05 2,38Dépenses en immobilisations, compte non tenu des intérêts incorporés à l'actif 1 310 1 076 1 649Flux de trésorerie disponibles2) 3 980 2 913 981Dividende par action ordinaire1) (en dollars) 0,60 0,60 0,57Rachats d'actions par action ordinaire3) (en dollars) 0,89 0,69 0,61Rendements pour les actionnaires4) 1 756 1 537 1 447Charges d'exploitation, frais de vente et frais généraux 3 419 3 778 3 163Dette nette2) 4 481 6 842 7 673Faits saillants de l'exploitation
Total de la production en amont (kb/j)760,9875,2808,1Débit de traitement du pétrole brut par les raffineries (kb/j)470,6497,8442,3Taux d'utilisation des raffineries5) (%) 92 97 871) De base par action.
2) Mesures financières hors PCGR ou comprend des mesures financières hors PCGR. Se reporter à la rubrique « Mesures financières hors PCGR » du présent communiqué.
3) Correspondent au coût des rachats d'actions, compte non tenu de l'impôt payé sur les rachats d'actions, divisé par le nombre moyen pondéré d'actions en circulation.
4) Comprennent les dividendes versés sur les actions ordinaires et les rachats d'actions ordinaires, compte non tenu de l'impôt payé sur les rachats d'actions.
5) Le 1er janvier 2026, Suncor a augmenté de 10 % la capacité nominale de son réseau de raffinage, la faisant passer de 466 000 b/j à 511 000 b/j. Les taux d'utilisation trimestriels précédents ont été retraités de manière à refléter ce changement.
Résultats financiers
Rapprochement du résultat d'exploitation ajusté1)
T2T1T2(en millions de dollars)202620262025Bénéfice net 3 732 2 100 1 134Perte de change latente (profit de change latent) sur la dette libellée en dollars américains 132 139 (461)(Profit latent) perte latente sur les activités de gestion des risques (131) 92 68Modification législative non récurrente apportée aux prestations63--Réduction de valeur sur des placements en titres de capitaux propres - - 136Charge (recouvrement) d'impôt sur le résultat au titre des ajustements du résultat d'exploitation ajusté 8 (31) (4)Résultat d'exploitation ajusté1) 3 804 2 300 8731) Mesure financière hors PCGR. Tous les éléments de rapprochement sont présentés avant impôt et ajustés pour tenir compte de l'impôt sur le résultat présenté au poste « Charge (recouvrement) d'impôt sur le résultat au titre des ajustements du résultat d'exploitation ajusté ». Se reporter à la rubrique « Mesures financières hors PCGR » du présent communiqué.
Le résultat d'exploitation ajusté de Suncor a augmenté pour s'établir à 3,804 G$ (3,23 $ par action ordinaire) au deuxième trimestre de 2026, comparativement à 873 M$ (0,71 $ par action ordinaire) au trimestre correspondant de l'exercice précédent, en raison principalement de l'augmentation des prix obtenus en amont et des marges en aval, en partie contrebalancée par une augmentation correspondante de la charge d'impôt et des redevances.
Le bénéfice net s'est accru pour s'établir à 3,732 G$ (3,17 $ par action ordinaire) pour le deuxième trimestre de 2026, en comparaison de 1,134 G$ (0,93 $ par action ordinaire) pour le trimestre correspondant de l'exercice précédent. En plus des facteurs qui ont eu une incidence sur le résultat d'exploitation ajusté, les éléments présentés dans le tableau ci-dessus ont influé sur le bénéfice net du deuxième trimestre de 2026 et du trimestre correspondant de l'exercice précédent.
Les fonds provenant de l'exploitation ajustés ont augmenté pour s'établir à 5,329 G$ (4,52 $ par action ordinaire) au deuxième trimestre de 2026, en comparaison de 2,689 G$ (2,20 $ par action ordinaire) au trimestre correspondant de l'exercice précédent. Cette variation s'explique essentiellement par l'incidence des mêmes facteurs que ceux ayant influé sur le résultat d'exploitation ajusté dont il est question ci-dessus. Au cours du trimestre considéré, les fonds provenant de l'exploitation ajustés ont bénéficié de la force des activités intégrées de Suncor, les activités en amont ayant profité des fortes primes sur le pétrole brut synthétique, tandis que les activités en aval ont dégagé des fonds provenant de l'exploitation ajustés records malgré la hausse des coûts des charges d'alimentation.
Les flux de trésorerie liés aux activités d'exploitation, qui comprennent les variations du fonds de roulement hors trésorerie, se sont établis à 5,655 G$ (4,80 $ par action ordinaire) au deuxième trimestre de 2026, en comparaison de 2,919 G$ (2,38 $ par action ordinaire) au trimestre correspondant de l'exercice précédent.
Les flux de trésorerie disponibles ont augmenté pour s'établir à 3,980 G$ (3,38 $ par action ordinaire), comparativement à 981 M$ (0,80 $ par action ordinaire) au trimestre correspondant de l'exercice précédent. Cette variation s'explique essentiellement par les mêmes facteurs que ceux ayant influé sur les fonds provenant de l'exploitation ajustés ainsi que par la diminution des dépenses en immobilisations au cours du trimestre considéré par rapport au trimestre correspondant de l'exercice précédent.
Les charges d'exploitation, frais de vente et frais généraux se sont établis à 3,419 G$ au deuxième trimestre de 2026, en comparaison de 3,163 G$ au trimestre correspondant de l'exercice précédent. Cette hausse s'explique principalement par l'intensification des activités minières, attribuable en partie à des conditions météorologiques exceptionnelles au cours du trimestre, notamment d'abondantes accumulations de neige, une fonte printanière rapide et de fortes pluies, ainsi que par l'intensification des travaux de maintenance dans le secteur Sables pétrolifères.
Résultats d'exploitation
T2T1T2(en kb/j, à moins d'indication contraire)202620262025Activités en amont
Total de la production de bitume du secteur Sables pétrolifères 815,2 933,9 860,8Production de pétrole brut synthétique et de diesel 510,0 550,8 468,0Transferts entre actifs et produits consommés à l'interne (27,8) (31,5) (29,8)Production valorisée - production nette de pétrole brut synthétique et de diesel 482,2 519,3 438,2Production de bitume 273,9 364,7 334,8Transferts entre actifs (66,0) (85,2) (24,6)Production de bitume non valorisé 207,9 279,5 310,2Total de la production du secteur Sables pétrolifères 690,1 798,8 748,4Exploration et production 70,8 76,4 59,7Production en amont totale 760,9 875,2 808,1Ventes en amont 782,1 872,1 812,8
Activités en aval
Taux d'utilisation des raffineries1) (%) 92 97 87Débit de traitement du pétrole brut par les raffineries 470,6 497,8 442,3Ventes de produits raffinés 654,8 680,9 600,5La production totale de bitume du secteur Sables pétrolifères s'est établie à 815 200 barils par jour (b/j) au deuxième trimestre de 2026, comparativement à 860 800 b/j au trimestre correspondant de l'exercice précédent. Cette diminution est principalement attribuable à l'incidence des travaux de révision planifiés à Firebag, qui ont été menés à bien plus tôt que prévu au cours du trimestre, en partie contrebalancée par l'accroissement de la production minière observé malgré une succession inhabituelle de phénomènes météorologiques, notamment d'abondantes accumulations de neige, une fonte printanière rapide et de fortes pluies. Au trimestre correspondant de l'exercice précédent, la production minière reflétait l'incidence du projet de remplacement des tambours à coke de l'unité de valorisation 1 et des travaux de révision connexes.
La production nette de pétrole brut synthétique à valeur plus élevée de la Société s'est accrue pour se chiffrer à 482 200 b/j et le taux d'utilisation des installations de valorisation a été de 93 % au deuxième trimestre de 2026, comparativement à 438 200 b/j et à 86 %, respectivement, au trimestre correspondant de l'exercice précédent, en raison principalement de la diminution des travaux de maintenance au cours du trimestre à l'étude.
La production de bitume non valorisé a diminué pour s'établir à 207 900 b/j au deuxième trimestre de 2026, contre 310 200 b/j au trimestre correspondant de l'exercice précédent, en raison essentiellement de la plus grande disponibilité des installations de valorisation et du fléchissement de la production de bitume.
La production du secteur E&P s'est accrue pour s'établir à 70 800 b/j au deuxième trimestre de 2026, en comparaison de 59 700 b/j au trimestre correspondant de l'exercice précédent, et elle reflète une solide production pour l'ensemble des actifs.
Le débit de traitement du pétrole brut des raffineries a atteint un niveau record de 470 600 b/j pour un deuxième trimestre, tandis que le taux d'utilisation des raffineries1) s'est établi à 92 % de la capacité nominale révisée de 511 000 b/j, comparativement à 442 300 b/j et à 87 %, respectivement, au trimestre correspondant de l'exercice précédent, ce qui s'explique principalement par le volume moindre de travaux de maintenance exécutés au cours de la période considérée. La production des raffineries a augmenté pour s'établir à 503 400 b/j, en comparaison de 464 600 b/j au trimestre correspondant de l'exercice précédent, la Société ayant bénéficié d'une augmentation structurelle du volume de charges d'alimentation intermédiaires traité par les installations secondaires.
Les ventes de produits raffinés ont augmenté pour atteindre un record de 654 800 b/j pour un deuxième trimestre, en comparaison de 600 500 b/j au cours du trimestre correspondant de l'exercice précédent, Suncor ayant continué d'exploiter les possibilités sur le marché à l'échelle mondiale, notamment les ventes records de carburéacteur, tout en fournissant davantage de volumes sur le marché intérieur par l'intermédiaire de circuits de vente au détail à forte valeur ajoutée, en tirant parti de la marque de vente au détail la plus prisée au Canada.
1) Le 1er janvier 2026, Suncor a augmenté de 10 % la capacité nominale de son réseau de raffinage, la faisant passer de 466 000 b/j à 511 000 b/j. Les taux d'utilisation trimestriels précédents ont été retraités de manière à refléter ce changement.
Mises à jour concernant la Société et la stratégie
Hausse prévue des rachats d'actions mensuels à 500 M$ par mois. À compter d'août 2026, Suncor prévoit augmenter ses rachats d'actions mensuels de 350 M$ par mois à 500 M$ par mois, ce qui porte les rachats d'actions prévus pour l'exercice 2026 complet à 4,7 G$ et représente une troisième augmentation mensuelle depuis décembre 2025.
Annonce d'un nouveau partenariat de fidélisation. Petro-Canada et WestJet ont annoncé les modalités d'un nouveau partenariat de fidélisation qui devrait offrir aux clients de Petro-Canada plus de valeur, plus d'options et plus de flexibilité lorsqu'ils voyagent et font le plein.
Mises à jour sur les perspectives de la Société
Suncor a mis à jour ses fourchettes prévisionnelles pour 2026, qui avaient été publiées précédemment le 11 décembre 2025 :
Les prévisions concernant le contexte commercial, la charge d'impôt exigible et les redevances ont été mises à jour afin de refléter le contexte commercial actuel au 4 août 2026.Pour des précisions et des mises en garde sur les perspectives de Suncor pour 2026, visitez le www.suncor.com/fr-CA/guidance.
Mesures financières hors PCGR
Certaines mesures financières contenues dans le présent communiqué, à savoir les fonds provenant de l'exploitation ajustés, le résultat d'exploitation ajusté, les flux de trésorerie disponibles et la dette nette, ainsi que les montants par action ou par baril connexes, ne sont pas prescrites par les PCGR. Nous présentons ces mesures financières hors PCGR parce que notre direction les utilise pour analyser la performance des activités, l'endettement et la liquidité, le cas échéant, et qu'elles peuvent être utiles aux investisseurs pour les mêmes raisons. Ces mesures financières hors PCGR n'ont pas de définition normalisée et, par conséquent, il est peu probable qu'elles soient comparables aux mesures similaires présentées par d'autres sociétés. Par conséquent, elles ne doivent pas être utilisées isolément ni comme substituts aux mesures de rendement établies conformément aux PCGR. Sauf indication contraire, ces mesures financières hors PCGR sont calculées et présentées de la même manière d'une période à l'autre. Des ajustements particuliers pourraient être pertinents pour certaines périodes seulement.
Résultat d'exploitation ajusté
Le résultat d'exploitation ajusté est une mesure financière hors PCGR qui se calcule en ajustant le résultat net en fonction d'éléments significatifs qui ne sont pas indicatifs de la performance au chapitre de l'exploitation. La direction utilise le résultat d'exploitation ajusté pour évaluer la performance au chapitre de l'exploitation parce qu'elle estime que cette mesure donne une comparaison plus juste entre les périodes. Un rapprochement entre le résultat d'exploitation ajusté et le résultat net est présenté dans le communiqué ci-dessus.
Fonds provenant de (affectés à) l'exploitation ajustés
Les fonds provenant de (affectés à) l'exploitation ajustés sont une mesure financière hors PCGR qui consiste à ajuster une mesure conforme aux PCGR, à savoir les flux de trésorerie liés aux activités d'exploitation, en fonction des variations du fonds de roulement hors trésorerie et que la direction utilise pour analyser la performance au chapitre de l'exploitation et la liquidité. Les variations du fonds de roulement hors trésorerie peuvent subir l'incidence, entre autres facteurs, de la volatilité des prix des marchandises, du calendrier des achats des charges d'alimentation destinées aux activités extracôtières et des paiements relatifs aux taxes sur les marchandises et à l'impôt sur le résultat, du calendrier des flux de trésorerie liés aux créances et aux dettes et des variations des stocks qui, de l'avis de la direction, réduisent la comparabilité d'une période à l'autre.
Trimestres clos les 30 juinSables
pétrolifères Exploration et
production Raffinage et
commercialisation Siège social et
éliminations Impôt sur
le résultatTotal(en millions de dollars) 202620252026202520262025202620252026202520262025Bénéfice (perte) avant impôt sur le résultat 2 691 844 465 165 2 100 377 (277) 48 - - 4 979 1 434Ajustements pour :
Charge d'amortissement et d'épuisement 1 241 1 248 167 167 275 260 31 34 - - 1 714 1 709Charge de désactualisation 129 124 20 16 4 4 - - - - 153 144Perte de change latente (profit de change latent) sur la dette libellée en dollars américains - - - - - - 132 (461) - - 132 (461)Variation de la juste valeur des instruments financiers et des stocks de négociation (173) 215 12 34 (70) (62) - - - - (231) 187Perte (profit) à la cession d'actifs 5 - - - (2) - (3) - - - - -Rémunération fondée sur des actions (8) 7 (1) 1 (4) 4 (47) (6) - - (60) 6Règlement de passifs liés au démantèlement et à la remise en état (108) (86) (11) (11) (13) (15) - - - - (132) (112)Autres 42 47 - - 9 47 41 100 - - 92 194Charge d'impôt exigible - - - - - - - - (1 318) (412) (1 318) (412)Fonds provenant de (affectés à) l'exploitation ajustés 3 819 2 399 652 372 2 299 615 (123) (285) (1 318) (412) 5 329 2 689Variation du fonds de roulement hors trésorerie
326 230Flux de trésorerie liés aux activités d'exploitation
5 655 2 919Semestres clos les 30 juinSables
pétrolifères Exploration et
production Raffinage et
commercialisation Siège social et
éliminations Impôt sur
le résultatTotal(en millions de dollars) 202620252026202520262025202620252026202520262025Bénéfice (perte) avant impôt sur le résultat 4 207 2 519 847 323 3 750 1 049 (999) (167) - - 7 805 3 724Ajustements pour :
Charge d'amortissement et d'épuisement 2 476 2 447 342 338 551 517 76 70 - - 3 445 3 372Charge de désactualisation 259 248 39 32 8 7 - - - - 306 287Perte de change latente (profit de change latent) sur la dette libellée en dollars américains - - - - - - 271 (475) - - 271 (475)Variation de la juste valeur des instruments financiers et des stocks de négociation (32) 147 4 28 (14) (45) - - - - (42) 130Perte (profit) à la cession d'actifs 5 - - - (8) - (10) - - - (13) -Rémunération fondée sur des actions (42) (79) (3) (5) (18) (36) (117) (177) - - (180) (297)Règlement de passifs liés au démantèlement et à la remise en état (248) (165) (16) (14) (26) (27) - - - - (290) (206)Autres 88 92 1 - 37 52 26 115 - - 152 259Charge d'impôt exigible - - - - - - - - (2 095) (1 060) (2 095) (1 060)Fonds provenant de (affectés à) l'exploitation ajustés 6 713 5 209 1 214 702 4 280 1 517 (753) (634) (2 095) (1 060) 9 359 5 734Variation du fonds de roulement hors trésorerie
(1 269) (659)Flux de trésorerie liés aux activités d'exploitation
8 090 5 075Flux de trésorerie disponibles (déficitaires)
Les flux de trésorerie disponibles (déficitaires) sont une mesure financière hors PCGR calculée en déduisant des fonds provenant de l'exploitation ajustés, les dépenses en immobilisations, y compris les intérêts incorporés à l'actif. Les flux de trésorerie disponibles rendent compte de la trésorerie disponible pour accroître les distributions aux actionnaires et réduire la dette. La direction utilise cette mesure pour évaluer la capacité de la Société à accroître les rendements pour les actionnaires et à faire croître les activités de Suncor.
Trimestres clos les 30 juinSables
pétrolifèresExploration et productionRaffinage et
commercialisationSiège social et éliminationsImpôt sur
le résultatTotal(en millions de dollars)202620252026202520262025202620252026202520262025Fonds provenant de (affectés à) l'exploitation ajustés 3 819 2 399 652 372 2 299 615 (123) (285) (1 318) (412) 5 329 2 689Dépenses en immobilisations,
y compris les intérêts incorporés à l'actif (914) (1 109) (126) (229) (300) (362) (9) (8) - - (1 349) (1 708)Flux de trésorerie disponibles (déficitaires) 2 905 1 290 526 143 1 999 253 (132) (293) (1 318) (412) 3 980 981Semestres clos les 30 juinSables
pétrolifèresExploration et productionRaffinage et
commercialisationSiège social et éliminationsImpôt sur
le résultatTotal(en millions de dollars)202620252026202520262025202620252026202520262025Fonds provenant de (affectés à) l'exploitation ajustés 6 713 5 209 1 214 702 4 280 1 517 (753) (634) (2 095) (1 060) 9 359 5 734Dépenses en immobilisations,
y compris les intérêts incorporés à l'actif (1 660) (1 858) (254) (438) (532) (542) (20) (15) - - (2 466) (2 853)Flux de trésorerie disponibles (déficitaires) 5 053 3 351 960 264 3 748 975 (773) (649) (2 095) (1 060) 6 893 2 881Dette nette et dette totale
La dette nette et la dette totale sont des mesures financières hors PCGR que la direction utilise pour analyser la situation financière de la Société. La dette totale se compose de la dette à court terme, de la tranche courante de la dette à long terme et de la dette à long terme (qui sont toutes des mesures conformes aux PCGR). La dette nette correspond à la dette totale diminuée de la trésorerie et des équivalents de trésorerie (une mesure conforme aux PCGR).
30 juin31 décembre(en millions de dollars, sauf indication contraire) 20262025Dette à court terme - -Tranche courante de la dette à long terme 656 973Dette à long terme 9 197 9 014Dette totale 9 853 9 987Moins la trésorerie et les équivalents de trésorerie 5 372 3 650Dette nette 4 481 6 337Capitaux propres 48 163 45 124Dette totale majorée des capitaux propres 58 016 55 111Ratio dette totale/dette totale majorée des capitaux propres (%) 17,0 18,1Ratio dette nette/dette nette majorée des capitaux propres (%) 8,5 12,3Mise en garde - renseignements de nature prospective
Le présent communiqué renferme de l'information prospective et des énoncés prospectifs (collectivement appelés « énoncés prospectifs » aux présentes) et d'autres informations qui reposent sur les attentes actuelles, les estimations, les projections et les hypothèses que la Société a formulées à la lumière des informations qui étaient à sa disposition au moment où les présents énoncés ont été formulés, et en fonction de son expérience et de sa perception des tendances historiques, notamment les attentes et hypothèses au sujet de l'exactitude des estimations des réserves; les prix des marchandises, les taux d'intérêt et les taux de change; le rendement des actifs et du matériel; l'incertitude liée aux conflits géopolitiques; la rentabilité des capitaux et les économies de coûts; les lois applicables et les politiques gouvernementales; les niveaux de production futurs; la suffisance des dépenses en immobilisations budgétées pour l'exécution des activités planifiées; la disponibilité et le coût de la main-d'œuvre, des services et des infrastructures; la capacité de tiers à remplir leurs obligations envers Suncor; l'élaboration et l'exécution de projets; et la réception en temps utile des approbations des autorités de réglementation et des tiers. Tous les énoncés et les informations traitant de prévisions ou de projections au sujet de l'avenir, ainsi que les autres énoncés et informations au sujet de la stratégie de croissance de Suncor, de ses prévisions courantes et futures en matière de dépenses en immobilisations ou de décisions d'investissement, des prix des marchandises, des coûts, des calendriers, des volumes de production, des résultats d'exploitation et des résultats financiers, des activités de financement et d'investissement futures et de l'incidence prévue des engagements futurs, constituent des énoncés prospectifs. Certains énoncés prospectifs se reconnaissent à l'emploi d'expressions comme « s'attend à », « anticipe », « estime », « planifie », « prévu », « a l'intention de », « croit », « projette », « indique », « pourrait », « se concentre sur », « vision », « but », « perspectives », « proposé », « cible », « objectif », « continue », « devrait », « futur », « avenir », « potentiel », « occasion », « priorité », « stratégie » et autres expressions analogues. Les énoncés prospectifs formulés dans le présent communiqué font référence aux éléments suivants : la stratégie, les axes privilégiés, les objectifs et les priorités de Suncor, ainsi que les avantages qui devraient en découler; la conviction de Suncor que le nouveau partenariat entre le programme de fidélisation de Petro-Canada et WestJet offrira aux clients de Petro-Canada une valeur accrue ainsi qu'un plus grand choix et une plus grande souplesse lorsqu'ils font le plein et prennent l'avion; et le fait que Suncor prévoit effectuer des rachats d'actions de 4,7 G$ en 2026, ce qui représente une hausse de plus de 30 % par rapport aux rachats d'actions de 2025. En outre, tous les autres énoncés et renseignements traitant de la stratégie de croissance de Suncor, de ses décisions en matière de dépenses et d'investissements prévus et futurs, des prix des marchandises, des coûts, des calendriers, des volumes de production, des résultats opérationnels et des résultats financiers, et de l'incidence prévue des engagements futurs, constituent des énoncés prospectifs. Certains énoncés et renseignements prospectifs se reconnaissent à l'emploi d'expressions comme « s'attend », « prévoit », « estimations », « planifie », « prévu », « entend », « croit », « projets », « indique », « pourrait », « se concentre », « vision », « but », « perspectives », « proposé », « cible », « objectif », « continue », « devrait », « peut » et autres expressions analogues.
Les énoncés et les renseignements prospectifs ne sont pas des garanties d'un rendement futur et comportent un certain nombre de risques et d'incertitudes, dont certains sont similaires à ceux qui touchent d'autres sociétés pétrolières et gazières et d'autres sont propres à Suncor. Les résultats réels de Suncor pourraient différer de façon significative de ceux exprimés ou suggérés de manière implicite dans ses énoncés ou renseignements prospectifs. Le lecteur est donc averti de ne pas s'y fier indûment.
La notice annuelle et le rapport annuel aux actionnaires de Suncor, chacun daté du 25 février 2026, le formulaire 40-F, le rapport aux actionnaires pour le deuxième trimestre de 2026 daté du 4 août 2026 et les autres documents que Suncor dépose périodiquement auprès des autorités en valeurs mobilières décrivent les risques, incertitudes et hypothèses significatives et les autres facteurs qui pourraient avoir une incidence sur les résultats réels et de tels facteurs sont intégrés par renvoi aux présentes. On peut se procurer ces documents en consultant le site Internet de Suncor à l'adresse suncor.com/fr-CA/FinancialReports ou sur SEDAR+ au sedarplus.ca ou sur EDGAR au sec.gov. Sauf dans les cas où les lois applicables sur les valeurs mobilières l'exigent, Suncor se dégage de toute intention ou obligation de mettre à jour ou de réviser publiquement ses renseignements de nature prospective, que ce soit en raison de nouvelles informations, d'événements futurs ou d'autres circonstances.
Le rapport aux actionnaires pour le deuxième trimestre de 2026 de Suncor, les états financiers et les notes (non audités) peuvent être téléchargés à partir du profil de la Société au sedarplus.ca ou au sec.gov ou du site Web de Suncor, au suncor.com/fr-CA/FinancialReports.
Pour écouter la webdiffusion portant sur les résultats du deuxième trimestre de Suncor, veuillez visiter suncor.com/webdiffusions. La webdiffusion sera archivée pendant 90 jours.
Suncor Énergie - la plus importante société énergétique intégrée du Canada
Les activités de Suncor couvrent l'ensemble de la chaîne de valeur énergétique, y compris l'exploitation des sables pétrolifères et les activités in situ, la valorisation, la production extracôtière, le raffinage du pétrole au Canada et aux États-Unis, la commercialisation et la négociation, ainsi que les réseaux nationaux de vente au détail et en gros de Petro-CanadaMC, fournissant une énergie fiable qui alimente la croissance économique et répond aux besoins des clients partout au Canada et à l'échelle mondiale. Fortement axée sur la sécurité, l'excellence opérationnelle et la rentabilité, Suncor s'engage à offrir une performance de premier plan dans le secteur et à créer de la valeur à long terme pour les actionnaires. Les actions ordinaires de Suncor (symbole : SU) sont inscrites à la Bourse de Toronto et à la Bourse de New York.
Pour en savoir plus sur Suncor, visitez notre site Web à suncor.com ou trouvez-nous sur LinkedIn, Instagram et Facebook.
Pour consulter la version originale de ce communiqué de presse, visitez le https://www.newsfilecorp.com/release/307979
Source: Suncor Energy Inc.
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Suncor Energy (SU - Free Report) came out with quarterly earnings of $2.33 per share, beating the Zacks Consensus Estimate of $2.14 per share. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +8.88%. A quarter ago, it was expected that this energy company would post earnings of $1.45 per share when it actually produced earnings of $1.41, delivering a surprise of -2.76%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Suncor Energy, which belongs to the Zacks Oil and Gas - Integrated - Canadian industry, posted revenues of $12.67 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 22.36%. This compares to year-ago revenues of $8.6 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Suncor Energy shares have added about 48.7% since the beginning of the year versus the S&P 500's gain of 11%.
What's Next for Suncor Energy?While Suncor Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Suncor Energy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.69 on $9.44 billion in revenues for the coming quarter and $7.11 on $41.04 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Integrated - Canadian is currently in the top 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Oils-Energy sector, Fluence Energy, Inc. (FLNC - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -600%. The consensus EPS estimate for the quarter has been revised 40.6% higher over the last 30 days to the current level.
Fluence Energy, Inc.'s revenues are expected to be $761.85 million, up 26.4% from the year-ago quarter.
Calgary, Alberta--(Newsfile Corp. - August 4, 2026) - Suncor Energy's (TSX: SU) (NYSE: SU) Board of Directors has approved a quarterly dividend of $0.60 per share on its common shares, payable September 25, 2026 to shareholders of record at the close of business on September 4, 2026.
Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307976
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and derived from the company's condensed consolidated financial statements which are based on Canadian generally accepted accounting principles (GAAP), specifically International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), and are prepared in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. Production volumes are presented on a working-interest basis, before royalties, except for production values from the company's Libya operations, which are presented on an economic basis. Certain financial measures referred to in this news release (adjusted funds from operations, adjusted operating earnings, free funds flow, and net debt) are not prescribed by Canadian generally accepted accounting principles (GAAP). See the Non-GAAP Financial Measures section of this news release. References to Oil Sands operations exclude Suncor Energy Inc.'s ownership of Fort Hills and interest in Syncrude.
Calgary, Alberta--(Newsfile Corp. - August 4, 2026) - Suncor Energy (TSX: SU) (NYSE: SU)
Second Quarter Highlights
Matched quarterly record adjusted funds from operations of $5.3 billion and set all-time quarterly per share record of $4.52.
Generated $4.0 billion in free funds flow and set all-time quarterly per share record of $3.38, more than quadruple the prior year quarter.
Returned nearly $1.8 billion to shareholders, with over $1.0 billion in share repurchases and over $700 million in dividends.
Beginning in August 2026, Suncor plans to increase monthly share repurchases to $500 million from $350 million.
Second quarter upstream production of 761,000 bbls/d, and record first half upgrader utilization of 94%.
Record second quarter refining throughput of 471,000 bbls/d and record second quarter refined product sales of 655,000 bbls/d.
"Suncor delivered record quarterly free funds flow per share of $3.38 in the second quarter, demonstrating the progress we've made in improving the performance of our business and increasing shareholder value," said Rich Kruger, President and Chief Executive Officer. "The quarter was led by the exemplary performance of our downstream business, delivering record quarterly adjusted funds from operations and record second quarter refining throughput and refined product sales, highlighting the strength of our integrated model and its ability to generate significant cash flow across a range of market conditions."
Second Quarter Results
Financial HighlightsQ2Q1Q2($ millions, unless otherwise noted)202620262025Net earnings 3 732 2 100 1 134Per common share(1) (dollars) 3.17 1.77 0.93Adjusted operating earnings(2) 3 804 2 300 873Per common share(1)(2) (dollars) 3.23 1.93 0.71Adjusted funds from operations(2) 5 329 4 030 2 689Per common share(1)(2) (dollars) 4.52 3.39 2.20Cash flow provided by operating activities 5 655 2 435 2 919Per common share(1) (dollars) 4.80 2.05 2.38Capital expenditures excluding capitalized interest 1 310 1 076 1 649Free funds flow(2) 3 980 2 913 981Dividend per common share(1) (dollars) 0.60 0.60 0.57Share repurchases per common share(3) (dollars) 0.89 0.69 0.61Returns to shareholders(4) 1 756 1 537 1 447Operating, selling and general expenses 3 419 3 778 3 163Net debt(2) 4 481 6 842 7 673Operating Highlights
Total upstream production (mbbls/d)760.9875.2808.1Refinery crude oil throughput (mbbls/d)470.6497.8442.3Refinery utilization(5) (%) 92 97 87(1) Presented on a basic per share basis.
(2) Non-GAAP financial measures or contains non-GAAP financial measures. See the Non-GAAP Financial Measures section of this news release.
(3) Calculated as the cost of share repurchases, excluding taxes paid on share repurchases, divided by the weighted average number of shares outstanding.
(4) Includes dividends paid on common shares and repurchases of common shares; excludes taxes paid on common share repurchases.
(5) Effective January 1, 2026, Suncor increased the nameplate capacity of its refining network by 10% from 466,000 bbls/d to 511,000 bbls/d. Prior quarter utilization rates have been restated to reflect this change.
Financial Results
Adjusted Operating Earnings Reconciliation(1)
Q2Q1Q2($ millions)202620262025Net earnings 3 732 2 100 1 134Unrealized foreign exchange loss (gain) on U.S. dollar denominated debt 132 139 (461)Unrealized (gain) loss on risk management activities (131) 92 68One-time legislative change to benefits 63 - -Write-down of equity investments - - 136Income tax expense (recovery) on adjusted operating earnings adjustments 8 (31) (4)Adjusted operating earnings(1) 3 804 2 300 873(1) Non-GAAP financial measure. All reconciling items are presented on a before-tax basis and adjusted for income taxes in the income tax expense (recovery) on adjusted operating earnings adjustments line. See the Non-GAAP Financial Measures section of this news release.
Suncor's adjusted operating earnings increased to $3.804 billion ($3.23 per common share) in the second quarter of 2026, compared to $873 million ($0.71 per common share) in the prior year quarter, primarily due to increased upstream price realizations and downstream margins, partially offset by a corresponding increase in tax and royalties expense.
Net earnings increased to $3.732 billion ($3.17 per common share) in the second quarter of 2026, compared to $1.134 billion ($0.93 per common share) in the prior year quarter. In addition to the factors impacting adjusted operating earnings, net earnings for the second quarter of 2026 and the prior year quarter were impacted by the items shown in the table above.
Adjusted funds from operations increased to $5.329 billion ($4.52 per common share) in the second quarter of 2026, compared to $2.689 billion ($2.20 per common share) in the prior year quarter, and were primarily influenced by the same factors impacting adjusted operating earnings. Adjusted funds from operations benefitted from the strength of Suncor's integrated operations in the current quarter, as the upstream captured the strong synthetic crude oil (SCO) premiums, while the downstream generated record adjusted funds from operations, despite the higher feedstock costs.
Cash flow provided by operating activities, which includes changes in non-cash working capital, was $5.655 billion ($4.80 per common share) in the second quarter of 2026, compared to $2.919 billion ($2.38 per common share) in the prior year quarter.
Free funds flow increased to $3.980 billion ($3.38 per common share), compared to $981 million ($0.80 per common share) in the prior year quarter, and was primarily influenced by the same factors impacting adjusted funds from operations as well as lower capital expenditures in the current quarter compared to the prior year quarter.
Operating, selling and general (OS&G) expenses were $3.419 billion in the second quarter of 2026, compared to $3.163 billion in the prior year quarter, with the increase primarily due to increased mining activity, in part due to the unprecedented combination of snow accumulation, rapid spring melt and major rainfall events in the current quarter and increased Oil Sands maintenance.
Total Oil Sands bitumen production 815.2 933.9 860.8SCO and diesel production 510.0 550.8 468.0Inter-asset transfers and consumption (27.8) (31.5) (29.8)Upgraded production - net SCO and diesel 482.2 519.3 438.2Bitumen production 273.9 364.7 334.8Inter-asset transfers (66.0) (85.2) (24.6)Non-upgraded bitumen production 207.9 279.5 310.2Total Oil Sands production 690.1 798.8 748.4Exploration and Production 70.8 76.4 59.7Total upstream production 760.9 875.2 808.1Upstream sales 782.1 872.1 812.8
Downstream
Refinery utilization(1) (%) 92 97 87Refinery crude oil throughput 470.6 497.8 442.3Refined product sales 654.8 680.9 600.5Total Oil Sands bitumen production was 815,200 barrels per day (bbls/d) in the second quarter of 2026, compared to 860,800 bbls/d in the prior year quarter, with the decrease primarily due to the planned turnaround at Firebag, which was successfully completed ahead of schedule in the current quarter, partially offset by increased mining production despite an unprecedented combination of snow accumulation, rapid spring melt, and major rainfall events. Mining production in the prior year quarter was impacted by the Upgrader 1 coke drum replacement project and turnaround.
The company's higher value net SCO production increased to 482,200 bbls/d with upgrader utilization of 93% in the second quarter of 2026, compared to 438,200 bbls/d and 86%, respectively, in the prior year quarter, primarily due to fewer maintenance activities in the current quarter.
Non-upgraded bitumen production decreased to 207,900 bbls/d in the second quarter of 2026, compared to 310,200 bbls/d in the prior year quarter, primarily due to increased upgrader availability and decreased bitumen production.
Exploration and Production (E&P) production increased to 70,800 bbls/d in the second quarter of 2026, compared to 59,700 bbls/d in the prior year quarter, and featured strong production at all assets.
Refinery crude oil throughput increased to a second quarter record of 470,600 bbls/d with refinery utilization([1]) of 92% of the rerated nameplate capacity of 511,000 bbls/d. This compares to 442,300 bbls/d and 87% in the prior year quarter, primarily due to fewer maintenance activities in the current period. Refinery production increased to 503,400 bbls/d, compared to 464,600 bbls/d in the prior year quarter, as the company benefitted from a structural increase of intermediate feedstock through the secondary units.
Refined product sales increased to a second quarter record of 654,800 bbls/d, compared to 600,500 bbls/d in the prior year quarter, as Suncor continued to capitalize on global market opportunities, including record jet fuel sales, while also delivering more domestic volumes through high-value retail channels, leveraging Canada's number one retail brand.
(1) Effective January 1, 2026, Suncor increased the nameplate capacity of its refining network by 10% from 466,000 bbls/d to 511,000 bbls/d. Prior quarter utilization rates have been restated to reflect this change.
Corporate and Strategy Updates
Share repurchases to be increased to $500 million per month. Beginning in August 2026, Suncor plans to increase monthly share repurchases to $500 million per month, from $350 million per month, projecting total 2026 share repurchases of $4.7 billion and marking the third monthly increase since December 2025.
New loyalty program partnership announced. Petro-Canada and WestJet announced the details of a new loyalty program partnership that is expected to give Petro-Canada customers more value, options and flexibility when fuelling and flying.
Corporate Guidance Updates
Suncor has updated its 2026 corporate guidance ranges, previously released on December 11, 2025:
Business Environment, Current Income Tax Expense and Royalties have been updated to reflect the current business environment as at August 4, 2026.For further details and advisories regarding Suncor's 2026 corporate guidance, see www.suncor.com/guidance.
Non-GAAP Financial Measures
Certain financial measures in this news release - namely adjusted funds from operations, adjusted operating earnings, free funds flow, net debt, and related per share or per barrel amounts - are not prescribed by GAAP. These non-GAAP financial measures are included because management uses the information to analyze business performance, leverage and liquidity, as applicable, and it may be useful to investors on the same basis. These non-GAAP financial measures do not have any standardized meaning and, therefore, are unlikely to be comparable to similar measures presented by other companies. Therefore, these non-GAAP financial measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Except as otherwise indicated, these non-GAAP financial measures are calculated and disclosed on a consistent basis from period to period. Specific adjusting items may only be relevant in certain periods.
Adjusted Operating Earnings
Adjusted operating earnings is a non-GAAP financial measure that adjusts net earnings for significant items that are not indicative of operating performance. Management uses adjusted operating earnings to evaluate operating performance because management believes it provides better comparability between periods. Adjusted operating earnings are reconciled to net earnings in the news release above.
Adjusted Funds From (Used In) Operations
Adjusted funds from (used in) operations is a non-GAAP financial measure that adjusts a GAAP measure – cash flow provided by operating activities – for changes in non-cash working capital, which management uses to analyze operating performance and liquidity. Changes to non-cash working capital can be impacted by, among other factors, commodity price volatility, the timing of offshore feedstock purchases and payments for commodity and income taxes, the timing of cash flows related to accounts receivable and accounts payable, and changes in inventory, which management believes reduces comparability between periods.
Three months ended June 30Oil SandsExploration and
ProductionRefining and
MarketingCorporate and
EliminationsIncome TaxesTotal($ millions)202620252026202520262025202620252026202520262025Earnings (loss) before income taxes 2 691 844 465 165 2 100 377 (277) 48 - - 4 979 1 434Adjustments for:
Depreciation, depletion and amortization 1 241 1 248 167 167 275 260 31 34 - - 1 714 1 709Accretion 129 124 20 16 4 4 - - - - 153 144Unrealized foreign exchange loss (gain) on U.S. dollar denominated debt - - - - - - 132 (461) - - 132 (461)Change in fair value of financial instruments and trading inventory (173) 215 12 34 (70) (62) - - - - (231) 187Loss (gain) on disposal of assets 5 - - - (2) - (3) - - - - -Share-based compensation (8) 7 (1) 1 (4) 4 (47) (6) - - (60) 6Settlement of decommissioning and
restoration liabilities (108) (86) (11) (11) (13) (15) - - - - (132) (112)Other 42 47 - - 9 47 41 100 - - 92 194Current income tax expense - - - - - - - - (1 318) (412) (1 318) (412)Adjusted funds from (used in) operations 3 819 2 399 652 372 2 299 615 (123) (285) (1 318) (412) 5 329 2 689Change in non-cash working capital
326 230Cash flow provided by operating activities
5 655 2 919Six months ended June 30Oil SandsExploration and
ProductionRefining and
MarketingCorporate and
EliminationsIncome TaxesTotal($ millions)202620252026202520262025202620252026202520262025Earnings (loss) before income taxes 4 207 2 519 847 323 3 750 1 049 (999) (167) - - 7 805 3 724Adjustments for:
(1 269) (659)Cash flow provided by operating activities
8 090 5 075Free Funds Flow (Deficit)
Free funds flow (deficit) is a non-GAAP financial measure that is calculated by taking adjusted funds from operations and subtracting capital expenditures, including capitalized interest. Free funds flow reflects cash available for increasing distributions to shareholders and reducing debt. Management uses free funds flow to measure the capacity of the company to increase returns to shareholders and to grow Suncor's business.
Net debt and total debt are non-GAAP financial measures that management uses to analyze the financial condition of the company. Total debt includes short-term debt, current portion of long-term debt and long-term debt (all of which are GAAP measures). Net debt is equal to total debt less cash and cash equivalents (a GAAP measure).
June 30December 31($ millions, except as noted)20262025Short-term debt - -Current portion of long-term debt 656 973Long-term debt 9 197 9 014Total debt 9 853 9 987Less: Cash and cash equivalents 5 372 3 650Net debt 4 481 6 337Shareholders' equity 48 163 45 124Total debt plus shareholders' equity 58 016 55 111Total debt to total debt plus shareholders' equity (%) 17.0 18.1Net debt to net debt plus shareholders' equity (%) 8.5 12.3Legal Advisory – Forward-Looking Information
This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as "forward-looking statements") and other information based on Suncor's current expectations, estimates, projections and assumptions that were made by the company in light of information available at the time the statement was made and consider Suncor's experience and its perception of historical trends, including expectations and assumptions concerning: the accuracy of reserves estimates; commodity prices and interest and foreign exchange rates; the performance of assets and equipment; uncertainty related to geopolitical conflict; capital efficiencies and cost savings; applicable laws and government policies; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour, services and infrastructure; the satisfaction by third parties of their obligations to Suncor; the development and execution of projects; and the receipt, in a timely manner, of regulatory and third-party approvals. All statements and information that address expectations or projections about the future, and other statements and information about Suncor's strategy for growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial results, future financing and capital activities, and the expected impact of future commitments are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "will", "estimates", "plans", "scheduled", "intends", "believes", "projects", "indicates", "could", "focus", "vision", "goal", "outlook", "proposed", "target", "objective", "continue", "should", "may", "future", "potential", "opportunity", "would", "priority", "strategy" and similar expressions. Forward-looking statements in this news release include references to: Suncor's strategy, focus, goals and priorities and the expected benefits therefrom; Suncor's belief that Petro-Canada's new loyalty program partnership with WestJet will give Petro-Canada customers more value, options and flexibility when fueling and flying; and Suncor's projection of $4.7 billion of share repurchases in 2026. In addition, all other statements and information about Suncor's strategy for growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial results and the expected impact of future commitments are forward-looking statements. Some of the forward-looking statements and information may be identified by words like "expects", "anticipates", "will", "estimates", "plans", "scheduled", "intends", "believes", "projects", "indicates", "could", "focus", "vision", "goal", "outlook", "proposed", "target", "objective", "continue", "should", "may" and similar expressions.
Forward-looking statements and information are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Suncor. Suncor's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.
Suncor's Annual Information Form and Annual Report to Shareholders, each dated February 25, 2026, Form 40-F, Suncor's Report to Shareholders for the Second Quarter of 2026 dated August 4, 2026, and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available by referring to suncor.com/FinancialReports or on SEDAR+ at sedarplus.ca or EDGAR at sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
To view a full copy of Suncor's second quarter 2026 Report to Shareholders and the financial statements and notes (unaudited), visit Suncor's profile on sedarplus.ca or sec.gov or visit Suncor's website at suncor.com/financialreports.
To listen to the conference call discussing Suncor's second quarter results, visit suncor.com/webcasts. The event will be archived for 90 days.
Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks – delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307978
Source: Suncor Energy Inc.
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Suncor Energy facility is seen in Sherwood Park, Alberta, Canada August 21, 2019. REUTERS/Candace Elliott Purchase Licensing Rights, opens new tab
SummaryCompaniesSuncor plans to raise monthly share repurchases to C$500 million from AugustTotal upstream production falls to 760,900 bpd after Firebag turnaroundAug 4 (Reuters) - Suncor Energy (SU.TO), opens new tab on Tuesday beat second-quarter adjusted profit estimates as higher crude price realizations and stronger refining margins offset weaker upstream production.
Higher oil prices and fuel margins lifted earnings across Canada's oil patch as conflict in the Middle East supported crude markets.
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Calgary, Alberta-based Suncor said oil sands adjusted operating earnings rose to C$2.592 billion from C$926 million a year ago, while refining and marketing adjusted operating earnings increased to C$2.068 billion from C$404 million.
Canadian oil and gas producers have steadily raised output while keeping costs in check, helped by years of investment.
Peer Imperial Oil more than doubled its second-quarter profit and beat analysts' estimates, also benefiting from higher crude prices.
Suncor's refinery crude oil throughput rose to a second-quarter record of 470,600 barrels per day from 442,300 barrels per day, while its refinery utilization increased to 92% from 87%.
Refined product sales also hit a quarterly record of 654,800 barrels per day (bpd). Total upstream production fell to 760,900 bpd from 808,100 bpd, partly due to a planned turnaround at Firebag.
Suncor reaffirmed its 2026 upstream production and refinery throughput forecast and maintained its capital spending forecast of C$5.6 billion to C$5.8 billion.
The company said it plans to raise its monthly share repurchases to C$500 million from C$350 million beginning in August, projecting total 2026 buybacks of C$4.7 billion.
Suncor said in March that about 60% of its oil sands production would come from in situ, or steam-assisted, extraction by 2040, up from about 30% currently, as it shifts away from higher-cost mining.
The company posted adjusted operating earnings of C$3.23 per share for the quarter ended June 30, above analysts' average estimate of C$3.07, according to data compiled by LSEG.
($1 = 1.4025 Canadian dollars)
Reporting by Khusbu Jena in Bengaluru; Editing by Shreya Biswas
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
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Stock to Watch: Suncor Energy (SU - Free Report) Founded in 1917, Alberta-based Suncor Energy, Inc. is Canada's premier integrated energy company. The company's operations include oil sands development and upgrading, conventional and offshore crude oil and gas production, petroleum refining, and product marketing. Suncor is one of the largest owners of oil sands in the world. The company has gained new oil sands properties to supplement its existing operations in northern Alberta, making it the dominant producer in the region where reserves are second only to Saudi Arabia.
SU is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Oils-Energy stock. SU has a Momentum Style Score of B, and shares are up 20.2% over the past four weeks.
One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $1.49 to $7.11 per share. SU boasts an average earnings surprise of +6.9%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, SU should be on investors' short list.
Wall Street analysts expect Suncor Energy (SU - Free Report) to post quarterly earnings of $2.14 per share in its upcoming report, which indicates a year-over-year increase of 319.6%. Revenues are expected to be $10.35 billion, up 20.4% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 2.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Suncor Energy metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Production Volumes per day - Total Oil Sands production' to come in at 688.71 thousands of barrels of oil. Compared to the current estimate, the company reported 748.40 thousands of barrels of oil in the same quarter of the previous year.
The consensus among analysts is that 'Sales Volumes per day - Exploration and Production' will reach 64.55 thousands of barrels of oil. The estimate compares to the year-ago value of 65.00 thousands of barrels of oil.
Analysts forecast 'Sales Volumes per day - Total Oil Sands operations' to reach 688.72 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 747.80 thousands of barrels of oil.
The consensus estimate for 'Crude oil processed per day - Total' stands at 467.57 thousands of barrels of oil. Compared to the present estimate, the company reported 442.30 thousands of barrels of oil in the same quarter last year.
It is projected by analysts that the 'Production Volumes per day - Oil Sands operations - non-upgraded bitumen' will reach 193.65 thousands of barrels of oil. Compared to the present estimate, the company reported 310.20 thousands of barrels of oil in the same quarter last year.
The collective assessment of analysts points to an estimated 'Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel)' of 495.06 thousands of barrels of oil. Compared to the current estimate, the company reported 438.20 thousands of barrels of oil in the same quarter of the previous year.
Analysts predict that the 'Sales Volumes per day - Oil Sands operations - Upgraded (SCO and Diesel)' will reach 495.06 thousands of barrels of oil. The estimate compares to the year-ago value of 440.20 thousands of barrels of oil.
The average prediction of analysts places 'Sales Volumes per day - Oil Sands operations - non-upgraded bitumen' at 193.65 thousands of barrels of oil. Compared to the current estimate, the company reported 307.60 thousands of barrels of oil in the same quarter of the previous year.
According to the collective judgment of analysts, 'Production Volumes per day - Total Fort Hills bitumen production' should come in at 152.29 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 162.90 thousands of barrels of oil.
Based on the collective assessment of analysts, 'Production Volumes per day - Total Syncrude production' should arrive at 191.20 thousands of barrels of oil. Compared to the present estimate, the company reported 196.50 thousands of barrels of oil in the same quarter last year.
The combined assessment of analysts suggests that 'Production Volumes per day - E&P Canada' will likely reach 62.17 thousands of barrels of oil. Compared to the present estimate, the company reported 56.40 thousands of barrels of oil in the same quarter last year.
Analysts' assessment points toward 'Production Volumes per day - E&P International' reaching 3.89 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 3.30 thousands of barrels of oil.
View all Key Company Metrics for Suncor Energy here>>>
Shares of Suncor Energy have demonstrated returns of +22.2% over the past month compared to the Zacks S&P 500 composite's +0.2% change. With a Zacks Rank #3 (Hold), SU is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Analysts on Wall Street project that Suncor Energy (SU - Free Report) will announce quarterly earnings of $2.14 per share in its forthcoming report, representing an increase of 319.6% year over year. Revenues are projected to reach $10.35 billion, increasing 20.4% from the same quarter last year.
The current level reflects a downward revision of 2.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Suncor Energy metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus estimate for 'Production Volumes per day - Total Oil Sands production' stands at 688.71 thousands of barrels of oil. Compared to the present estimate, the company reported 748.40 thousands of barrels of oil in the same quarter last year.
Analysts forecast 'Sales Volumes per day - Exploration and Production' to reach 64.55 thousands of barrels of oil. Compared to the present estimate, the company reported 65.00 thousands of barrels of oil in the same quarter last year.
The average prediction of analysts places 'Sales Volumes per day - Total Oil Sands operations' at 688.72 thousands of barrels of oil. Compared to the present estimate, the company reported 747.80 thousands of barrels of oil in the same quarter last year.
The consensus among analysts is that 'Crude oil processed per day - Total' will reach 467.57 thousands of barrels of oil. The estimate compares to the year-ago value of 442.30 thousands of barrels of oil.
Analysts predict that the 'Production Volumes per day - Oil Sands operations - non-upgraded bitumen' will reach 193.65 thousands of barrels of oil. The estimate compares to the year-ago value of 310.20 thousands of barrels of oil.
Analysts' assessment points toward 'Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel)' reaching 495.06 thousands of barrels of oil. Compared to the present estimate, the company reported 438.20 thousands of barrels of oil in the same quarter last year.
Based on the collective assessment of analysts, 'Sales Volumes per day - Oil Sands operations - Upgraded (SCO and Diesel)' should arrive at 495.06 thousands of barrels of oil. Compared to the current estimate, the company reported 440.20 thousands of barrels of oil in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Sales Volumes per day - Oil Sands operations - non-upgraded bitumen' will likely reach 193.65 thousands of barrels of oil. The estimate compares to the year-ago value of 307.60 thousands of barrels of oil.
Analysts expect 'Production Volumes per day - Total Fort Hills bitumen production' to come in at 152.29 thousands of barrels of oil. Compared to the current estimate, the company reported 162.90 thousands of barrels of oil in the same quarter of the previous year.
According to the collective judgment of analysts, 'Production Volumes per day - Total Syncrude production' should come in at 191.20 thousands of barrels of oil. Compared to the current estimate, the company reported 196.50 thousands of barrels of oil in the same quarter of the previous year.
It is projected by analysts that the 'Production Volumes per day - E&P Canada' will reach 62.17 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 56.40 thousands of barrels of oil.
The collective assessment of analysts points to an estimated 'Production Volumes per day - E&P International' of 3.89 thousands of barrels of oil. Compared to the present estimate, the company reported 3.30 thousands of barrels of oil in the same quarter last year.
View all Key Company Metrics for Suncor Energy here>>>
Over the past month, shares of Suncor Energy have returned +22.8% versus the Zacks S&P 500 composite's -1.5% change. Currently, SU carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Key Takeaways Suncor Energy to report Q2 earnings on Aug. 4, with consensus estimates of $2.14 EPS on $10.35B revenues.SU's downstream business likely benefited from favorable refining margins and stable refinery throughput.SU's planned maintenance at Firebag and Base Plant likely reduced production and raised expenses. Suncor Energy Inc. (SU - Free Report) is set to report second-quarter 2026 earnings on Aug. 4, after the closing bell. The Zacks Consensus Estimate for earnings is pegged at $2.14 per share, and the same for revenues is pinned at $10.35 billion.
Let us delve into the factors that might have influenced SU’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.
Highlights of SU’s Q1 Earnings & Surprise HistoryIn the first quarter, this Alberta-based integrated oil and gas company’s earnings missed the consensus mark. Suncor Energy posted adjusted operating earnings of $1.41 per share, which were 3% below the Zacks Consensus Estimate of $1.45. This was primarily due to a 16.5% increase in total expenses and higher commodity input costs during the quarter. However, the company’s operating revenues of $10.7 billion beat the Zacks Consensus Estimate by 19.53%.
SU's earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one, delivering an average surprise of 6.93%.
This is depicted in the graph below:
Trend in SU’s Estimate RevisionThe Zacks Consensus Estimate for second-quarter 2026 earnings has remained unchanged in the past seven days. The estimated figure indicates a 319.61% year-over-year bottom-line increase. Moreover, the Zacks Consensus Estimate for revenues indicates an increase of 20.42% from the year-ago period’s level.
Factors to Consider Ahead of SU’s Q2 ReleaseOn a positive note, SU's revenues are likely to have improved in the quarter to be reported. Our model predicts second-quarter revenues to increase from the year-ago quarter's level of $8.60 billion. Suncor's downstream operations are expected to have provided solid support to its second-quarter performance despite volatility in crude markets. Favorable refining margins and sustained demand for refined products through much of the quarter are likely to have driven stronger earnings from the company's refining and marketing business. Stable refinery throughput is also expected to support overall results, highlighting the resilience of Suncor's integrated business model.
On the flip side, extensive turnaround activity is expected to weigh on second-quarter results. Management stated that Suncor's largest upstream maintenance events at the Firebag and Base Plant facilities were underway during the quarter and were expected to have been completed before the end of the second quarter. These planned outages are likely to have temporarily lowered production volumes, increased maintenance expenses and limited upstream earnings, partially offsetting the strength of the company's downstream operations.
What Does Our Model Say?The proven Zacks model does not conclusively show an earnings beat for Suncor Energythis time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: SU currently carries a Zacks Rank #3.
Stocks to ConsiderHere are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat.
Ryman Hospitality Properties (RHP - Free Report) has an Earnings ESP of +1.26% and a Zacks Rank #2. The firm is scheduled to release earnings on Aug. 6, 2026. You can seethe complete list of today’s Zacks #1 Rank stocks here.
Ryman Hospitality Properties is a real estate investment trust that owns a large group of convention-oriented hotels and entertainment assets. This includes the Grand Ole Opry, generating revenue from hospitality, entertainment and related businesses. Ryman Hospitality has a trailing four-quarter average earnings surprise of 6.44%.
Somnigroup International Inc. (SGI - Free Report) has an Earnings ESP of +2.43% and a Zacks Rank #2. The firm is scheduled to release earnings on Aug. 6, 2026.
Somnigroup is a global bedding company that designs, manufactures and sells mattresses, adjustable bases and sleep-related products through a portfolio of well-known brands. The company has a trailing four-quarter average earnings surprise of 4.80%.
Sweetgreen (SG - Free Report) has an Earnings ESP of +11.54% and a Zacks Rank #2. The firm is scheduled to release earnings on Aug. 6, 2026.
Sweetgreen is a fast-casual restaurant chain that serves customizable salads, warm bowls and protein plates. The company has a strong focus on digital ordering and fresh, locally sourced ingredients. Sweetgreen is valued at approximately $733.17 million.
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What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
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How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
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To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Suncor Energy (SU - Free Report) Founded in 1917, Alberta-based Suncor Energy, Inc. is Canada's premier integrated energy company. The company's operations include oil sands development and upgrading, conventional and offshore crude oil and gas production, petroleum refining, and product marketing. Suncor is one of the largest owners of oil sands in the world. The company has gained new oil sands properties to supplement its existing operations in northern Alberta, making it the dominant producer in the region where reserves are second only to Saudi Arabia.
SU is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 9; value investors should take notice.
One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $1.49 to $7.11 per share. SU boasts an average earnings surprise of +6.9%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, SU should be on investors' short list.
Suncor Energy (SU - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on August 4, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis energy company is expected to post quarterly earnings of $2.14 per share in its upcoming report, which represents a year-over-year change of +319.6%.
Revenues are expected to be $10.35 billion, up 20.4% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 2.32% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Suncor Energy?For Suncor Energy, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Suncor Energy will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Suncor Energy would post earnings of $1.45 per share when it actually produced earnings of $1.41, delivering a surprise of -2.76%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Suncor Energy doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsImperial Oil (IMO - Free Report) , another stock in the Zacks Oil and Gas - Integrated - Canadian industry, is expected to report earnings per share of $2.99 for the quarter ended June 2026. This estimate points to a year-over-year change of +123.1%. Revenues for the quarter are expected to be $11.86 billion, up 46.1% from the year-ago quarter.
The consensus EPS estimate for Imperial Oil has been revised 7.9% lower over the last 30 days to the current level. However, an equal Most Accurate Estimate has resulted in an Earnings ESP of 0.00%.
This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Imperial Oil will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Assetmark Inc. increased its stake in shares of Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 55.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,681 shares of the oil and gas producer’s stock after buying an additional 10,219 shares during the quarter. Assetmark Inc.’s holdings in Suncor Energy were worth $1,896,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Barings LLC lifted its holdings in shares of Suncor Energy by 231.3% in the first quarter. Barings LLC now owns 288,783 shares of the oil and gas producer’s stock worth $19,104,000 after acquiring an additional 201,608 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Suncor Energy by 0.7% during the first quarter. Bessemer Group Inc. now owns 64,709 shares of the oil and gas producer’s stock worth $4,266,000 after buying an additional 440 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Suncor Energy by 8.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 775,769 shares of the oil and gas producer’s stock worth $50,378,000 after buying an additional 60,506 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Suncor Energy by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 3,001,716 shares of the oil and gas producer’s stock valued at $198,443,000 after acquiring an additional 173,737 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Suncor Energy by 153.0% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,840,155 shares of the oil and gas producer’s stock valued at $121,668,000 after acquiring an additional 1,112,774 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.
Analyst Ratings Changes A number of brokerages have issued reports on SU. Wall Street Zen raised Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Finally, The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Friday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $71.67.
View Our Latest Analysis on Suncor Energy
Suncor Energy Trading Up 2.5% NYSE SU opened at $66.35 on Friday. The stock has a market capitalization of $78.34 billion, a P/E ratio of 17.41 and a beta of 0.30. The business has a 50 day simple moving average of $60.96 and a 200 day simple moving average of $59.33. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the prior year, the firm earned $1.31 EPS. Research analysts expect that Suncor Energy Inc. will post 6.9 earnings per share for the current year.
Suncor Energy Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.67%.
Suncor Energy Company Profile (Free Report)
Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.
Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.
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Bank of Nova Scotia increased its stake in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 20.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,765,867 shares of the oil and gas producer’s stock after purchasing an additional 795,310 shares during the quarter. Bank of Nova Scotia owned approximately 0.40% of Suncor Energy worth $315,144,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 225 shares in the last quarter. Headlands Technologies LLC bought a new position in Suncor Energy during the second quarter valued at approximately $31,000. 1 North Wealth Services LLC bought a new position in shares of Suncor Energy during the 4th quarter valued at approximately $32,000. Accent Capital Management LLC raised its stake in Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares in the last quarter. Finally, Maseco LLP bought a new position in Suncor Energy during the fourth quarter valued at $39,000. Institutional investors own 67.37% of the company’s stock.
Suncor Energy Stock Up 2.5% Shares of SU opened at $66.35 on Friday. The firm has a fifty day moving average price of $60.96 and a 200-day moving average price of $59.33. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $78.34 billion, a P/E ratio of 17.41 and a beta of 0.30. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the previous year, the business earned $1.31 EPS. Equities research analysts expect that Suncor Energy Inc. will post 6.9 earnings per share for the current year.
Suncor Energy Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. Suncor Energy’s dividend payout ratio (DPR) is 45.67%.
Analysts Set New Price Targets SU has been the topic of a number of research reports. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Royal Bank Of Canada increased their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Friday, June 5th. Finally, Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $71.67.
Read Our Latest Analysis on SU
Suncor Energy Company Profile (Free Report)
Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.
Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.
Featured Articles Five stocks we like better than Suncor Energy Premium Retail’s Stress Test Is Separating Winners From Losers D-Wave Quantum or a Quantum ETF: Which Is the Better Bet? GE Vernova Just Sent a Mixed AI Signal to Investors Alphabet Crushed Earnings, But One Number Spooked the Market Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU).
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Calgary, Alberta--(Newsfile Corp. - 21 juillet 2026) - Suncor Énergie (TSX : SU) (NYSE : SU) publiera ses résultats financiers du deuxième trimestre le 4 août 2026 avant 17 h, HR (19 h, HE).
Une webdiffusion permettant d'analyser les résultats du deuxième trimestre se tiendra le 5 août 2026 à 7 h 30, HR (9 h 30, HE). Une période de questions avec les analystes suivra les brèves remarques de la direction.
Pour écouter la webdiffusion, veuillez suivre les directives fournies à https://www.suncor.com/fr-ca/investisseurs/evenements-et-presentations. La webdiffusion sera archivée pendant 90 jours.
Suncor Énergie - la plus importante société énergétique intégrée du Canada
Les activités de Suncor couvrent l'ensemble de la chaîne de valeur énergétique, incluant les activités d'exploitation minière et in situ des sables bitumineux, la valorisation, la production extracôtière, le raffinage du pétrole au Canada et aux États-Unis, la commercialisation et les échanges commerciaux, ainsi que les réseaux de ventes au détail et de ventes en gros Petro-CanadaMC à l'échelle nationale - fournissant de l'énergie fiable qui alimente la croissance économique et répond aux besoins des clients partout au Canada et dans le monde. Grâce à un engagement inébranlable envers la sécurité, l'excellence opérationnelle et la rentabilité, Suncor est déterminée à atteindre un rendement parmi les meilleurs de l'industrie et à offrir une valeur à long terme aux actionnaires. Les actions ordinaires de Suncor (symbole : SU) sont inscrites à la Bourse de Toronto et à la Bourse de New York.
Pour plus d'information, visitez suncor.com ou trouvez-nous sur LinkedIn, Instagram et Facebook.
Pour consulter la version originale de ce communiqué de presse, visitez le https://www.newsfilecorp.com/release/306001
Calgary, Alberta--(Newsfile Corp. - July 21, 2026) - Suncor Energy (TSX: SU) (NYSE: SU) will release its second quarter financial results on August 4, 2026 before 5:00 p.m. MT (7:00 p.m. ET).
A webcast to review the second quarter will be held on August 5, 2026 at 7:30 a.m. MT (9:30 a.m. ET). A question and answer period with analysts will follow brief remarks from management.
To listen to the webcast, please follow the instructions provided at https://www.suncor.com/en ca/investors/events-and-presentations. The event will be archived for 90 days.
Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306000
Suncor Energy (SU +2.75%) has benefited from favorable economic conditions this year, but it's the Canadian company's standout operational improvements that have helped its stock shoot up 30% in 2026.
Suncor's CEO, Rich Kruger, has taken a disciplined approach to get the energy producer's financials and margins in shape. This has resulted in more cash returned to shareholders and the company hitting its three-year Investor Day targets an entire year early.
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If oil prices continue to fall, Suncor's integrated business can help offset a portion of the volatility. Ultimately, it is better positioned than some other competitors if a real oil downturn happens.
It's easy to think that an energy company the size of Suncor gaining 30% in less than a calendar year means most of the run is already over. However, there's still plenty of potential, particularly for income investors.
Image source: Getty Images.
The stock currently offers a $0.43 quarterly dividend, yielding nearly 3%. Even with the 30% rise in price this year, Suncor's forward price-to-earnings ratio (P/E) is still around 9, below the sector's average of around 13. The analysts' average price target for Suncor is $63 per share, which the stock was still below at the time of this writing.
A solid yield and fair price, combined with operational efficiency and improved leadership, are why I'm bullish on Suncor Energy for the long term, no matter which direction oil prices go.
Catie Hogan has positions in Suncor Energy. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Key Takeaways Suncor Energy outperformed the broader oil and energy sector, with shares gaining 48.7% over 12 months.SU delivered record first-quarter 2026 upstream production despite temporary third-party disruptions.Suncor Energy targets 100,000 barrels per day of upstream production growth by 2028 using existing assets. Suncor Energy Inc. (SU - Free Report) has emerged as one of the strongest-performing energy stocks over the past year, driven by its disciplined capital allocation, resilient integrated business model and robust cash flow generation. Backed by healthy refining margins, efficient oil sands operations and consistent shareholder return, the company has continued to strengthen investor confidence despite a volatile commodity price environment.
Over the past 12 months, SU’s shares have rallied 48.7%, significantly outperforming the broader Oil-Energy Sector's (ZS12M) 24% rise. The stock's return, which is more than double that of the sector, reflects the market's confidence in Suncor's ability to execute its long-term strategy while delivering strong operational and financial performance.
Image Source: Zacks Investment Research
Suncor is one of Canada's largest integrated energy companies, with operations spanning oil sands mining, conventional oil and natural gas production, petroleum refining and fuel marketing. Its integrated business model provides diversified earnings streams, helping offset volatility in commodity prices while generating stable cash flows across market cycles. The company's momentum is also reflected in analysts' improving earnings expectations.
Over the past 60 days, the Zacks Consensus Estimate for SU's earnings per share has increased 10.47% for 2026 and 10.73% for 2027, indicating growing confidence in its outlook.
Image Source: Zacks Investment Research
Can Suncor continue to outperform after such an impressive rally, or has the stock already priced in its strengths? Let's examine the key factors driving the company's investment case and determine whether the stock still offers upside for investors.
What's Fueling Suncor's Strong Performance?Consistent Production Growth: Suncor has demonstrated that it can expand production through operational improvements rather than relying on expensive acquisitions or major greenfield developments. During the first quarter of 2026, the company delivered its highest first-quarter upstream production on record despite temporary third-party disruptions, highlighting stronger reliability, better asset utilization and continuous operational improvements across its oil sands portfolio.
Integrated Business Model: SU's fully integrated business model spans upstream production, upgrading, refining, transportation, trading and retail marketing, allowing it to capture value throughout the energy value chain. This diversified structure helps reduce earnings volatility, improves margin capture during changing market conditions and provides greater financial stability than companies that depend on only one segment of the energy business.
Leading Downstream Business: Suncor operates one of the strongest downstream businesses in North America with 511,000 barrels per day of refining capacity, approximately 1,730 Petro-Canada retail locations and export capabilities reaching 45 countries. Management highlighted industry-leading refinery utilization and strong commercial capabilities that continue to enhance profitability and generate resilient earnings across varying commodity price environments.
Operational Excellence: Suncor continues to improve operational reliability through higher upgrader utilization, stronger turnaround performance, improved mine productivity and greater regional integration across its oil sands assets. The investor presentation highlights sustained utilization above 95% and record operating performance, while management believes ongoing efficiency improvements will continue supporting stronger margins, lower costs and higher long-term cash generation.
Visible Growth Pipeline: Suncor plans to increase upstream production by approximately 100,000 barrels per day by 2028 using existing resource areas located near current operations. Management intends to deploy standardized project designs and leverage existing infrastructure to lower development costs, reduce execution risk and improve project economics compared with traditional large-scale oil sands developments.
Strong Financial Position: Suncor maintains a solid financial foundation supported by investment-grade credit ratings, approximately C$9 billion of available liquidity and conservative leverage metrics. Management explained that the temporary working capital increase reflected stronger commodity prices rather than financial weakness, reinforcing the company's ability to support growth investments while continuing substantial shareholder distributions.
Disciplined Capital Allocation: SU follows a disciplined capital allocation framework that prioritizes maintaining a strong balance sheet, investing in existing operations, paying reliable dividends, repurchasing shares and funding high-return growth projects. Management also clarified that the recent increase in share buybacks reflects confidence in the long-term business plan rather than a temporary response to favorable commodity prices.
Strong Execution Track Record: Management noted that Suncor met the previous Investor Day goals ahead of schedule by boosting upstream production, increasing downstream throughput, lowering its corporate breakeven and growing free funds flow. This strong execution reflects the company's operational strength and supports confidence in its long-term growth plans.
Suncor Stock: The Final VerdictSuncor is well positioned for sustained long-term growth, supported by consistent production expansion, ongoing operational improvements and a fully integrated business model that delivers resilient earnings across commodity cycles. The company's leading downstream operations, visible low-risk growth pipeline, disciplined capital allocation strategy and strong financial position provide a solid foundation for continued value creation and attractive shareholder returns.
Backed by management's proven execution record and continued focus on enhancing efficiency, lowering costs and increasing cash generation, Suncor is well equipped to capitalize on growth opportunities. This Zacks Rank #1 (Strong Buy) stock represents an attractive choice for investors seeking exposure to the oil and gas sector, given its strong competitive positioning, expanding international business and improving earnings outlook.
Other Key PicksInvestors interested in the energysector might consider other top-ranked stocks, such as Par Pacific (PARR - Free Report) , Paramount Resources (PRMRF - Free Report) , both sporting a Zacks Rank #1, and Cenovus Energy (CVE - Free Report) , carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Par Pacific is valued at 3.30 billion. It is an energy company that owns and operates refining, logistics and retail assets. Par Pacific operates across Hawaii, the Pacific Northwest and the Rocky Mountain region.
Paramount Resources is valued at $2.90 billion. It is a Canadian energy producer focused on the exploration, development and production of natural gas, crude oil and natural gas liquids. Paramount Resources operates in Western Canada.
Cenovus Energy is valued at $49.12 billion. It is an integrated Canadian energy company engaged in oil sands production, conventional oil and natural gas development, refining and downstream operations. Cenovus Energy operates across North America.
The Number With oil now trading well below the $100 level (and seemingly poised to continue heading lower, after OPEC announced further production increases recently and recessionary concerns pick up), it’s unclear where certain oil stocks are headed.
One such name that’s on my radar right now just reported its Q1 2026 earnings in early May – Chevron (NYSE:CVX | CVX Price Prediction). With the company posting adjusted earnings of $1.41 per share against a $0.97 consensus (a 45.56% beat), there’s plenty to seemingly like about this company’s growth trajectory in a lower oil price environment.
Let’s dive into what these results mean for the average investor.
What It Means This recent earnings beat rested on operational strength as much as on crude prices. Chevron’s average Brent realization in the quarter came in at $81 per barrel versus $76 a year earlier, a modest tailwind. The volume story did the heavy lifting. Worldwide net oil-equivalent production reached 3,858 MBOED, up 15% year over year, powered by the company’s high-profile Hess acquisition. U.S. output cleared 2 million barrels per day for the third consecutive quarter, a company record.
Reported net income tells a noisier story at $2.21 billion, down 37.07% year over year, weighed by roughly $2.9 billion in unfavorable timing effects tied to derivatives and LIFO, a $360 million legal reserve, and a $223 million FX headwind. Strip those out and the operating engine is running hotter. Chevron returned $2.5 billion via buybacks in Q1, the 16th straight quarter of returning more than $5 billion to shareholders.
Market Reaction Chevron shares closed at $169.20 on July 2, 2026, up 13.12% year to date and 19.13% over the past year. Now, the stock’s recent price action has cooled, alongside oil prices which dipped. Over the past month, CVX stock is off nearly 10% as WTI retreated from May’s peak to around $68.50 per barrel on July 6. Peer Exxon Mobil (NYSE:XOM) and Suncor Energy (NYSE:SU) have seen similar downside moves, as investors gauge where oil prices could be headed over the medium-term.
Bull Case Chevron’s Q1 beat pairs cleanly with three durable levers. First, volume: production growth of 15% year over year is a rare figure for a supermajor, and the Hess integration is the reason U.S. barrels have crossed two million a day for three straight quarters.
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Second, cost discipline is impressive, with Chevron delivering $1.5 billion in structural cost reductions in 2025, targeting $3 billion to $4 billion by the end of 2026.
Finally, the company’s capital return profile remains robust. Chevron returned $27.1 billion to shareholders in FY 2025, a 39th consecutive annual dividend increase, and a quarterly dividend of $1.78 per share that carries a yield near 4.17%.
CEO Mike Wirth framed the quarter this way: “Despite heightened geopolitical volatility and related supply disruptions, Chevron delivered solid first quarter performance, underscoring the resilience of our portfolio and the value of disciplined execution.”
Overall, Chevron’s forward P/E sits at 11, well below the trailing multiple, reflecting analyst expectations for higher earnings power as Hess barrels flow and cost programs land. Wall Street’s consensus target of $217.14 sits above current levels, with 18 buy or strong-buy ratings against one sell.
Bottom Line For long-term holders, Chevron’s 45.56% EPS beat is the tell. The company produced this metric all the while oil prices continued to sink below $70 per barrel. To me, that means the oil giants earnings engine is not in any way dependent on oil prices remaining in triple-digit territory. For those thinking long-term, that’s a big deal.
That said, it’s also true that volatility in commodity markets is a given. The catalyst worth watching is the structural cost target of $3 billion to $4 billion by year-end 2026. If Chevron hits it while Hess barrels compound, the $100 oil headline becomes optional to the investment case.
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Here are three stocks with buy rank and strong value characteristics for investors to consider today, July 7th:
Diversified Energy Company PLC (DEC - Free Report) : This energy company, which is focused on natural gas and liquids production, transport, marketing and well retirement, carries a Zacks Rank #1 (Strong Buy), and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 32.9% over the last 60 days.
Diversified Energy Company has a price-to-earnings ratio (P/E) of 3.05 compared with 16.70 for the industry. The company possesses a Value Score of A.
Suncor Energy (SU - Free Report) : This Canadian premier integrated energy company, which has operations that include oil sands development and upgrading, conventional and offshore crude oil and gas production, petroleum refining, and product marketing, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.5% over the last 60 days.
Suncor Energy has a price-to-earnings ratio (P/E) of 7.77 compared with 8.40 for the industry. The company possesses a Value Score of A.
RLJ Lodging Trust (RLJ - Free Report) : This REIT, which is focused on investing primarily in premium-branded, focused-service, and compact full-service hotels, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.5% over the last 60 days.
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
One company to watch right now is Suncor Energy (SU - Free Report) . SU is currently sporting a Zacks Rank #1 (Strong Buy) and an A for Value.
Investors should also recognize that SU has a P/B ratio of 1.57. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.12. Over the past 12 months, SU's P/B has been as high as 1.63 and as low as 1.25, with a median of 1.47.
Finally, investors should note that SU has a P/CF ratio of 5.57. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. SU's current P/CF looks attractive when compared to its industry's average P/CF of 7.18. Over the past 52 weeks, SU's P/CF has been as high as 5.77 and as low as 4.06, with a median of 4.85.
These are just a handful of the figures considered in Suncor Energy's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that SU is an impressive value stock right now.
Suncor is a buy at current levels, leveraging its long upstream reserve life and recent share price pullback below $55. I expect Q2 results to be stellar on high oil prices, with ongoing global inventory drawdowns supporting a bullish medium-term oil thesis. SU's forward P/E of 8 remains attractive versus peers, and its 3% dividend yield adds to the investment case amid market volatility.
CompaniesJune 19 (Reuters) - Suncor Energy's (SU.TO), opens new tab 85,000 barrels per day refinery in Sarnia, Ontario had a small fire at the facility that was quickly contained and extinguished, according to a community alert on Friday.
Appropriate regulatory authorities and community stakeholders have been notified, the alert said.
The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.
Suncor did not immediately respond to a Reuters request for comment.
Reporting by Anjana Anil in Bengaluru, Editing by Franklin Paul
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Agreement adds Globally Recognized Door, Window and Safety Technology Solutions to SU Group's Integrated Security-Related Engineering Platform
, /PRNewswire/ -- SU Group Holdings Limited (Nasdaq: SUGP) ("SU Group" or the "Company"), an integrated security-related engineering services company in Hong Kong, today announced a distributorship agreement with Germany's GEZE, a multi-national manufacturer in innovative door, window and safety technology for Smart Buildings.
The agreement broadens SU Group's product and solutions portfolio with GEZE's extensive range of advanced building technologies, including automatic door systems, window technology, safety systems, smoke and heat extraction solutions, access control-related applications and building automation capabilities.
GEZE has been in the industry for over a century and has one of the industry's most extensive product portfolios of smart building and safety technologies. This includes many award-winning products, popular for their innovative functions, high efficiency and clear focus on design, convenience and safety. GEZE's portfolio is particularly relevant to the next generation of Smart Buildings, where doors, windows, safety systems and building management platforms are increasingly expected to work together. Its technologies help support controlled access, barrier-free movement, preventive fire protection, natural ventilation, smoke and heat extraction, energy efficiency and centralized monitoring.
SU Group's Chairman and CEO, Dave Chan, said, "This is a big win for our customers, which put security at the forefront of planning and development decisions. The addition of GEZE to our product array will enable us to compete with top tier players, and participate in projects we could not have before, including those with the most advanced technological requirements. These technologies are increasingly important as developers, property owners and public-sector operators seek buildings that are not only secure, but also more accessible, efficient, connected and easier to manage."
Key Takeaways
New distributorship agreement with GEZE, a German-headquartered global specialist in door, window and safety technology for Smart Buildings Expands SU Group's product offering into advanced automatic door systems, window technology, building automation, access control, fire protection and safety-related applications Positions SU Group to pursue larger, more technically demanding projects across commercial properties, public facilities, infrastructure and residential developments Strengthens SU Group's ability to provide customers with integrated, end-to-end solutions that combine security engineering, safety, accessibility, convenience and smart building functionality Adds a globally established brand founded in 1863, with deep expertise, international scale and a broad product portfolio focused on quality, design and innovation About GEZE
GEZE is a German-headquartered, family-run technology company founded in 1863. The company develops and produces innovative door, window and safety technology for Smart Buildings and is recognized for its broad portfolio of products, systems and services. GEZE's solutions support automatic door systems, window technology, smoke and heat extraction, safety technology, access control-related applications and building automation. With a global presence, more than 3,000 employees and subsidiaries across numerous international markets, GEZE combines engineering expertise, quality, design and digital connectivity to help create safer, more comfortable and more efficient buildings.
About SU Group Holdings Limited
SU Group (Nasdaq: SUGP) is an integrated security-related services company that primarily provides security-related engineering services, security guarding and screening services, and related vocational training services in Hong Kong. Through its subsidiaries, SU Group has been providing turnkey services to the existing infrastructure or planned development of its customers through the design, supply, installation, and maintenance of security systems for over two decades. The security systems that SU Group provides services include threat detection systems, traffic and pedestrian control systems, and extra-low voltage systems in private and public sectors, including commercial properties, public facilities, and residential properties in Hong Kong. For more information visit www.sugroup.com.hk.
Forward-Looking Statements
The Company makes forward-looking statements in this report within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties, including the closing of the offering, and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. These statements may be preceded by, followed by or include the words "may," "might," "will," "will likely result," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or similar expressions. These forward-looking statements are based on information available to the Company as of the date of this report and involve substantial risks and uncertainties. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to a variety of factors, and other risks and uncertainties set forth in our reports filed with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update forward-looking statements as a result of new information, future events or developments or otherwise.
, /PRNewswire/ -- SU Group Holdings Limited (Nasdaq: SUGP) (the "Company"), an integrated security-related services company in Hong Kong, today announced that its board of directors, with the approval of the warrant holders in accordance with the terms of the applicable warrant instrument, has approved an adjustment to the exercise price of certain outstanding warrants issued by the Company on May 13, 2026, pursuant to the Company's unit offering of pre-funded warrants and warrants, from $5.50 to US$0.87 per ordinary share, effective as of June 17, 2026, subject to the terms and conditions of the applicable warrant documents and any other required approvals.
The Company's board of directors approved the warrant exercise price adjustment after considering, among other things, the Company's current financial and operational needs, prevailing market conditions, the trading price and volume of the Company's ordinary shares, and the potential opportunity to generate additional capital through warrant exercises. The board determined that adjusting the warrant exercise price may better align the warrants with current market conditions and incentivize participation in the Company's fundraising efforts.
The Company expects that any net proceeds received from exercises of the warrants would be used for general working capital and strategic purposes, including marketing, product promotion, and potential merger and acquisition opportunities. The board also considered that additional capital could support the Company's day-to-day operations, growth initiatives, and investment opportunities related to the Company's core business and new technologies.
The board believes that the warrant exercise price adjustment is commercially fair and reasonable and in the best interests of the Company and its shareholders as a whole, based on the information available to the board at the time of its decision. The Company also confirmed that the warrant exercise price adjustment is intended to be undertaken in accordance with the terms of the applicable warrant instrument and applicable laws, regulations, and listing rules.
The Company has authorized its officers to take the steps necessary to implement the warrant exercise price adjustment, including providing any required notices to warrant holders and making any appropriate regulatory filings.
There can be no assurance that any holder of the warrants will elect to exercise such warrants, or that the Company will receive any proceeds from any such exercises.
About SU Group Holdings Limited
SU Group (Nasdaq: SUGP) is an integrated security-related services company that primarily provides security-related engineering services, security guarding and screening services, and related vocational training services in Hong Kong. Through its subsidiaries, SU Group has been providing turnkey services to the existing infrastructure or planned development of its customers through the design, supply, installation, and maintenance of security systems for over two decades. The security systems that SU Group provides services include threat detection systems, traffic and pedestrian control systems, and extra-low voltage systems in private and public sectors, including commercial properties, public facilities, and residential properties in Hong Kong. For more information visit www.sugroup.com.hk.
Forward-Looking Statements
The Company makes forward-looking statements in this report within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties, including the closing of the offering, and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. These statements may be preceded by, followed by or include the words "may," "might," "will," "will likely result," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or similar expressions. These forward-looking statements are based on information available to the Company as of the date of this report and involve substantial risks and uncertainties. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to a variety of factors, and other risks and uncertainties set forth in our reports filed with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update forward-looking statements as a result of new information, future events or developments or otherwise.
Calgary, Alberta--(Newsfile Corp. - May 5, 2026) - Suncor Energy's (TSX: SU) (NYSE: SU) Board of Directors has approved a quarterly dividend of $0.60 per share on its common shares, payable June 25, 2026 to shareholders of record at the close of business on June 4, 2026.
Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296057
Sauf indication contraire, toute l'information financière est non auditée et présentée en dollars canadiens, et elle est tirée des états financiers consolidés résumés de la Société, qui sont fondés sur les principes comptables généralement reconnus (les « PCGR ») du Canada, plus précisément les Normes internationales d'information financière (les « IFRS ») publiées par l'International Accounting Standards Board (l'« IASB »), et qui ont été préparés conformément à la Norme comptable internationale (« IAS ») 34, Information financière intermédiaire. Les volumes de production sont présentés selon la participation directe avant redevances, sauf pour les valeurs de production liées aux activités de la Société en Libye, qui sont présentées selon un prix raisonnable. Certaines mesures financières dans le présent communiqué (fonds provenant de l'exploitation ajustés, résultat d'exploitation ajusté, flux de trésorerie disponibles et dette nette) ne sont pas prescrites par les principes comptables généralement reconnus (les « PCGR ») du Canada. Se reporter à la rubrique « Mesures financières hors PCGR » du présent communiqué. Les informations concernant les activités du secteur Sables pétrolifères ne tiennent pas compte de la participation de Suncor Énergie Inc. dans Fort Hills et Syncrude.
Fonds provenant de l'exploitation ajustés de plus de 4,0 G$ et flux de trésorerie disponibles de 2,9 G$.
Redistribution de plus de 1,5 G$ aux actionnaires, ce qui comprend des rachats d'actions de 825 M$ et des dividendes de plus de 700 M$.
Production en amont record, pour un premier trimestre, de 875 000 barils par jour (b/j), en hausse de 22 000 b/j par rapport au trimestre correspondant de l'exercice précédent.
Débit de raffinage record, pour un premier trimestre, de 498 000 b/j, en hausse de 15 000 b/j par rapport au trimestre correspondant de l'exercice précédent.
Ventes de produits raffinés trimestrielles records de 681 000 b/j, en hausse de 76 000 b/j par rapport au trimestre correspondant de l'exercice précédent.
« Comme il a été mis de l'avant lors de notre plus récente Journée des investisseurs, Suncor est aujourd'hui une entreprise hautement performante axée sur les résultats. La Société s'attache à respecter ses engagements et à générer des rendements solides et durables pour les actionnaires », a déclaré Rich Kruger, président et chef de la direction. « Nous avons réalisé une production en amont et un débit de raffinage records, pour un premier trimestre, en plus de ventes trimestrielles de produits raffinés inégalées. »
« Nous avons obtenu ces résultats tout en maintenant un programme de dépenses en immobilisations rigoureux et un excellent bilan, ce qui nous a permis d'accroître nos rachats d'actions mensuels pour une deuxième fois en quatre mois », a ajouté Troy Little, chef des finances.
Résultats du premier trimestre
Faits saillants financiers T1T4T1(en millions de dollars, sauf indication contraire) 202620252025Bénéfice net 2 1001 4761 689Par action ordinaire1) (en dollars) 1,771,231,36Résultat d'exploitation ajusté2) 2 3001 3251 629Par action ordinaire1), 2) (en dollars) 1,931,101,31Fonds provenant de l'exploitation ajustés2) 4 0303 2183 045Par action ordinaire1), 2) (en dollars) 3,392,682,46Flux de trésorerie liés aux activités d'exploitation 2 4353 9212 156Par action ordinaire1) (en dollars) 2,053,271,74Dépenses en immobilisations3) 1 0761 4831 087Flux de trésorerie disponibles2) 2 9131 6991 900Dividende par action ordinaire1) (en dollars) 0,600,600,57Rachats d'actions par action ordinaire4) (en dollars) 0,690,650,61Rendements pour les actionnaires5) 1 5371 4941 455Charges d'exploitation, frais de vente et frais généraux 3 7783 5183 297Dette nette2) 6 8426 3377 559Faits saillants de l'exploitation
Total de la production en amont (kb/j) 875,2909,0853,2Pétrole brut traité par les raffineries (kb/j) 497,8504,2482,7Taux d'utilisation des raffineries6) (%) 9799941) De base par action.
2) Mesures financières hors PCGR ou comprend des mesures financières hors PCGR. Se reporter à la rubrique « Mesures financières hors PCGR » du présent communiqué de presse.
3) Compte non tenu des intérêts capitalisés.
4) Correspondent au coût des rachats d'actions, compte non tenu de l'impôt payé sur les rachats d'actions, divisé par le nombre moyen pondéré d'actions en circulation.
5) Comprennent les dividendes versés sur les actions ordinaires et les rachats d'actions ordinaires, compte non tenu de l'impôt payé sur les rachats d'actions.
6) Le 1er janvier 2026, Suncor a augmenté de 10 % la capacité nominale de son réseau de raffineries, la faisant passer de 466 000 b/j à 511 000 b/j. Tous les taux d'utilisation des trimestres précédents ont été retraités de manière à refléter ce changement.
Résultats financiers
Rapprochement du résultat d'exploitation ajusté1)
T1T4T1(en millions de dollars) 202620252025Bénéfice net 2 1001 4761 689Perte de change latente (profit de change latent) sur la dette libellée en dollars américains 139(114)(14)Perte latente (profit latent) sur les activités de gestion des risques 927(60)Renversement d'une provision à l'égard de placements en titres de capitaux propres -(66)-(Recouvrement) charge d'impôt sur le résultat au titre des ajustements du résultat d'exploitation ajusté (31)2214Résultat d'exploitation ajusté1) 2 3001 3251 6291) Mesure financière hors PCGR. Tous les éléments de rapprochement sont présentés avant impôt et ajustés pour tenir compte de l'impôt sur le résultat présenté au poste « (Recouvrement) charge d'impôt sur le résultat au titre des ajustements du résultat d'exploitation ajusté ». Se reporter à la rubrique « Mesures financières hors PCGR » du présent communiqué de presse.
Le résultat d'exploitation ajusté de Suncor a augmenté pour s'établir à 2,300 G$ (1,93 $ par action ordinaire) au premier trimestre de 2026, comparativement à 1,629 G$ (1,31 $ par action ordinaire) au trimestre correspondant de l'exercice précédent, en raison principalement de l'augmentation des marges en aval, de l'augmentation des prix obtenus en amont et de la hausse des volumes de ventes en amont et en aval, en partie contrebalancées par l'augmentation des charges d'exploitation et des frais de transport qui a découlé de la hausse des volumes de ventes. Le résultat d'exploitation ajusté reflète également l'incidence du raffermissement des prix de référence au cours du trimestre considéré, ce qui a donné lieu à un profit lié à l'évaluation des stocks selon la méthode du premier entré, premier sorti (PEPS), en partie contrebalancé par un report du profit intersectoriel.
Le bénéfice net s'est accru pour s'établir à 2,100 G$ (1,77 $ par action ordinaire) pour le premier trimestre de 2026, en comparaison de 1,689 G$ (1,36 $ par action ordinaire) pour le trimestre correspondant de l'exercice précédent. En plus des facteurs qui ont eu une incidence sur le résultat d'exploitation ajusté, les éléments présentés dans le tableau ci-dessus ont influé sur le bénéfice net du premier trimestre de 2026 et du trimestre correspondant de l'exercice précédent.
Les fonds provenant de l'exploitation ajustés ont augmenté pour s'établir à 4,030 G$ (3,39 $ par action ordinaire) au premier trimestre de 2026, en comparaison de 3,045 G$ (2,46 $ par action ordinaire) au trimestre correspondant de l'exercice précédent. Cette variation s'explique essentiellement par l'incidence des mêmes facteurs que ceux ayant influé sur le résultat d'exploitation ajusté.
Les flux de trésorerie liés aux activités d'exploitation, qui comprennent les variations du fonds de roulement hors trésorerie, se sont établis à 2,435 G$ (2,05 $ par action ordinaire) au premier trimestre de 2026, en comparaison de 2,156 G$ (1,74 $ par action ordinaire) au trimestre correspondant de l'exercice précédent.
Les charges d'exploitation, frais de vente et frais généraux se sont établis à 3,778 G$ au premier trimestre de 2026, en comparaison de 3,297 G$ au trimestre correspondant de l'exercice précédent. L'augmentation découle principalement de la hausse de la charge de rémunération fondée sur des actions, de l'accroissement des volumes de ventes du côté des activités en amont et en aval, d'une intensification des travaux de maintenance et de la hausse des coûts des intrants des marchandises.
Résultats d'exploitation
T1T4T1(en kb/j, à moins d'indication contraire) 202620252025Activités en amont
Total de la production de bitume du secteur Sables pétrolifères 933,9992,7937,3Production de pétrole brut synthétique et de diesel 550,8586,8567,3Transferts entre actifs et produits consommés à l'interne (31,5)(29,8)(30,7)Production valorisée - production nette de pétrole brut synthétique et de diesel 519,3557,0536,6Production de bitume 364,7343,5341,7Transferts entre actifs (85,2)(55,1)(87,4)Production de bitume non valorisé 279,5288,4254,3Total de la production du secteur Sables pétrolifères 798,8845,4790,9Exploration et production 76,463,662,3Production en amont totale 875,2909,0853,2Ventes en amont 872,1905,5828,4
Activités en aval
Taux d'utilisation des raffineries1 (%) 979994Pétrole brut traité par les raffineries 497,8504,2482,7Ventes de produits raffinés 680,9640,4604,9La production totale de bitume du secteur Sables pétrolifères, qui s'est établie à 933 900 b/j, est comparable à celle du trimestre correspondant de l'exercice précédent, qui s'était chiffrée à 937 300 b/j, et elle reflète une production trimestrielle sans précédent à Fort Hills. La production de bitume du trimestre considéré reflète également l'incidence des travaux de maintenance à Syncrude et des réductions de capacité d'un pipeline d'approvisionnement en gaz naturel exploité par un tiers dans la région.
La production nette de pétrole brut synthétique de la Société s'est chiffrée à 519 300 b/j et le taux d'utilisation de l'unité de valorisation a été de 96 % au premier trimestre de 2026, comparativement à 536 600 b/j et à 102 %, respectivement, au trimestre correspondant de l'exercice précédent. La variation s'explique par l'intensification des travaux de maintenance à Syncrude qui a contrebalancé la production record de pétrole brut synthétique de l'usine de base du secteur Sables pétrolifères.
La production de bitume non valorisé s'est accrue pour s'établir à 279 500 b/j au premier trimestre de 2026, contre 254 300 b/j au trimestre correspondant de l'exercice précédent, en raison essentiellement d'une disponibilité moins grande des installations de valorisation.
Les volumes des ventes en amont ont augmenté pour s'établir à 872 100 b/j au premier trimestre de 2026, en comparaison de 828 400 b/j au trimestre correspondant de l'exercice précédent, ce qui reflète la hausse des volumes de production en amont et l'incidence d'une accumulation plus importante des stocks au cours du trimestre correspondant de l'exercice précédent.
La production du secteur E&P s'est accrue pour s'établir à 76 400 b/j au premier trimestre de 2026, en comparaison de 62 300 b/j au trimestre correspondant de l'exercice précédent, et elle reflète une solide production pour l'ensemble des actifs.
Le débit de raffinage s'est accru pour atteindre 497 800 b/j, un record pour un premier trimestre, comparativement à 482 700 b/j au trimestre correspondant de l'exercice précédent, en raison de l'ajout de capacités découlant d'activités de désengorgement et du maintien d'une solide performance opérationnelle tout au long du trimestre considéré. Le taux d'utilisation des raffineries1) s'est établi à 97 % au premier trimestre de 2026 et reflète l'augmentation de 10 % de la capacité nominale du réseau de raffinage, qui est passée à 511 000 b/j le 1er janvier 2026.
Les ventes de produits raffinés ont augmenté pour atteindre un record trimestriel de 680 900 b/j, en comparaison de 604 900 b/j au cours du trimestre correspondant de l'exercice précédent, Suncor ayant exploité les possibilités de ventes à l'exportation à l'échelle mondiale tout en fournissant davantage de volumes à l'échelle nationale au moyen de la croissance des activités de vente au détail et des partenariats stratégiques. Les volumes de ventes rendent compte de la production accrue des raffineries au cours du trimestre, attribuable en partie à une plus grande utilisation des installations secondaires.
1) Le 1er janvier 2026, Suncor a augmenté de 10 % la capacité nominale de son réseau de raffinage, la faisant passer de 466 000 b/j à 511 000 b/j. Tous les taux d'utilisation trimestriels précédents ont été retraités de manière à refléter ce changement.
Mises à jour concernant la Société et la stratégie
Augmentation de plus de 30 % des rachats d'actions prévus pour 2026. Après la clôture du trimestre, Suncor a augmenté ses rachats d'actions mensuels planifiés, les faisant passer de 275 M$ par mois à 350 M$ par mois, et prévoit ainsi des rachats d'actions totalisant près de 4 G$ en 2026, soit une hausse de plus de 30 % par rapport aux rachats d'actions de 2025.
Suncor a présenté, lors de la Journée des investisseurs du 31 mars dernier, ses nouveaux engagements triennaux. Pour un complément d'information, y compris la transcription intégrale et l'enregistrement de la présentation, visitez le www.suncor.com.
Faits saillants de la Journée des investisseurs :
une augmentation de 2 G$ des flux de trésorerie disponibles (selon un prix du WTI de 65 $ US) d'ici 2028;
une réduction de 5 $ US par baril de notre seuil de rentabilité basé sur le WTI, qui s'établira à 38 $ US par baril d'ici 2028;
un accroissement de la production en amont de 100 000 b/j d'ici 2028;
une augmentation de 10 % de la capacité nominale du réseau de raffinage à 511 000 b/j.
Mises à jour sur les perspectives de la Société
Suncor a mis à jour ses fourchettes prévisionnelles pour 2026 annoncées précédemment le 11 décembre 2025. La mise à jour reflète une augmentation de 10 % de la capacité nominale du réseau de raffinage, qui s'est établie à 511 000 b/j, entraînant une modification des taux d'utilisation des raffineries prévisionnels, qui sont passés de 99 % - 102 % à 90 % - 93 %. Les fourchettes prévisionnelles au titre du débit de raffinage sont demeurées inchangées à 460 000 à 475 000 b/j.
Pour des précisions et des mises en garde sur les perspectives de Suncor pour 2026, visitez le https://www.suncor.com/fr-ca/investisseurs/perspectives-de-la-societe.
Mesures financières hors PCGR
Certaines mesures financières contenues dans le présent communiqué, à savoir les fonds provenant de l'exploitation ajustés, le résultat d'exploitation ajusté, les flux de trésorerie disponibles et la dette nette, ainsi que les montants par action ou par baril connexes, ne sont pas prescrites par les PCGR. Nous présentons ces mesures financières hors PCGR parce que notre direction les utilise pour analyser la performance des activités, l'endettement et la liquidité, le cas échéant, et qu'elles peuvent être utiles aux investisseurs pour les mêmes raisons. Ces mesures financières hors PCGR n'ont pas de définition normalisée et, par conséquent, il est peu probable qu'elles soient comparables aux mesures similaires présentées par d'autres sociétés. Par conséquent, elles ne doivent pas être utilisées isolément ni comme substituts aux mesures de rendement établies conformément aux PCGR. Sauf indication contraire, ces mesures financières hors PCGR sont calculées et présentées de la même manière d'une période à l'autre. Des ajustements particuliers pourraient être pertinents pour certaines périodes seulement.
Résultat d'exploitation ajusté
Le résultat d'exploitation ajusté est une mesure financière hors PCGR qui se calcule en ajustant le résultat net en fonction d'éléments significatifs qui ne sont pas indicatifs de la performance au chapitre de l'exploitation. La direction utilise le résultat d'exploitation ajusté pour évaluer la performance au chapitre de l'exploitation parce qu'elle estime que cette mesure donne une comparaison plus juste entre les périodes. Un rapprochement entre le résultat d'exploitation ajusté et le résultat net est présenté ailleurs dans le présent communiqué.
Fonds provenant de (affectés à) l'exploitation ajustés
Les fonds provenant de (affectés à) l'exploitation ajustés sont une mesure financière hors PCGR qui consiste à ajuster une mesure conforme aux PCGR, à savoir les flux de trésorerie liés aux activités d'exploitation, en fonction des variations du fonds de roulement hors trésorerie et que la direction utilise pour analyser la performance au chapitre de l'exploitation et la liquidité. Les variations du fonds de roulement hors trésorerie peuvent subir l'incidence, entre autres facteurs, de la volatilité des prix des marchandises, du calendrier des achats des charges d'alimentation destinées aux activités extracôtières et des paiements relatifs aux taxes sur les marchandises et à l'impôt sur le résultat, du calendrier des flux de trésorerie liés aux créances et aux dettes et des variations des stocks qui, de l'avis de la direction, réduisent la comparabilité d'une période à l'autre.
Trimestres clos les
31 marsSables
pétrolifères Exploration et
production Raffinage et
commercialisation Siège social et
éliminations Impôt sur
le résultatTotal(en millions de dollars) 202620252026202520262025202620252026202520262025Bénéfice (perte) avant impôt sur le résultat1 5161 6753821581 650672(722)(215)--2 8262 290Ajustements pour :
Charge d'amortissement et d'épuisement1 2351 1991751712762574536--1 7311 663Charge de désactualisation 130124191643----153143Perte de change latente (profit de change latent) sur la dette libellée en dollars américains ------139(14)--139(14)Variation de la juste valeur des instruments financiers et des stocks de négociation 141(68)(8)(6)5617----189(57)Profit à la cession d'actifs----(6)-(7)--
(13)-Rémunération fondée sur des actions(34)(86)(2)(6)(14)(40)(70)(171)--(120)(303)Règlement de passifs liés au démantèlement et à la remise en état (140)(79)(5)(3)(13)(12)----(158)(94)Autres 46451-285(15)15--6065Charge d'impôt exigible--------(777)(648)(777)(648)Fonds provenant de (affectés à) l'exploitation ajustés2 8942 8105623301 981902(630)(349)(777)(648)4 0303 045Variation du fonds de roulement hors trésorerie
(1 595)(889)Flux de trésorerie liés aux activités d'exploitation
2 4352 156Flux de trésorerie disponibles (déficitaires)
Les flux de trésorerie disponibles (déficitaires) sont une mesure financière hors PCGR calculée en déduisant des fonds provenant de l'exploitation ajustés, les dépenses en immobilisations, y compris les intérêts incorporés à l'actif. Les flux de trésorerie disponibles rendent compte de la trésorerie disponible pour accroître les distributions aux actionnaires et réduire la dette. La direction utilise cette mesure pour évaluer la capacité de la Société à accroître les rendements pour les actionnaires et à financer ses investissements de croissance.
Trimestres clos les 31 marsSables
pétrolifèresExploration et productionRaffinage et
commercialisationSiège social et éliminationsImpôt sur
le résultatTotal(en millions de dollars)202620252026202520262025202620252026202520262025Fonds provenant de (affectés à) l'exploitation ajustés2 8942 8105623301 981902(630)(349)(777)(648)4 0303 045Dépenses en immobilisations,
y compris les intérêts incorporés à l'actif(746)(749)(128)(209)(232)(180)(11)(7)--(1 117)(1 145)Flux de trésorerie disponibles (déficitaires)2 1482 0614341211 749722(641)(356)(777)(648)2 9131 900Dette nette et dette totale
La dette nette et la dette totale sont des mesures financières hors PCGR que la direction utilise pour analyser la situation financière de la Société. La dette totale se compose de la dette à court terme, de la tranche courante de la dette à long terme et de la dette à long terme (qui sont toutes des mesures conformes aux PCGR). La dette nette correspond à la dette totale diminuée de la trésorerie et des équivalents de trésorerie (une mesure conforme aux PCGR).
31 mars31 décembre(en millions de dollars, sauf indication contraire) 20262025Dette à court terme --Tranche courante de la dette à long terme 979973Dette à long terme 9 1349 014Dette totale 10 1139 987Moins la trésorerie et les équivalents de trésorerie 3 2713 650Dette nette 6 8426 337Capitaux propres 45 77645 124Dette totale majorée des capitaux propres 55 88955 111Ratio dette totale/dette totale majorée des capitaux propres (%) 18,118,1Ratio dette nette/dette nette majorée des capitaux propres (%) 13,012,3Mise en garde - renseignements de nature prospective
Le présent communiqué renferme de l'information prospective et des énoncés prospectifs (collectivement appelés « énoncés prospectifs » aux présentes) et d'autres informations qui reposent sur les attentes actuelles, les estimations, les projections et les hypothèses que la Société a formulées à la lumière des informations qui étaient à sa disposition au moment où les présents énoncés ont été formulés, et en fonction de son expérience et de sa perception des tendances historiques, notamment les attentes et hypothèses au sujet de l'exactitude des estimations des réserves; les prix des marchandises, les taux d'intérêt et les taux de change; le rendement des actifs et du matériel; l'incertitude liée aux conflits géopolitiques; la rentabilité des capitaux et les économies de coûts; les lois applicables et les politiques gouvernementales; les niveaux de production futurs; la suffisance des dépenses en immobilisations budgétées pour l'exécution des activités planifiées; la disponibilité et le coût de la main-d'œuvre, des services et des infrastructures; la capacité de tiers à remplir leurs obligations envers Suncor; l'élaboration et l'exécution de projets; et la réception en temps utile des approbations des autorités de réglementation et des tiers. Tous les énoncés et les informations traitant de prévisions ou de projections au sujet de l'avenir, ainsi que les autres énoncés et informations au sujet de la stratégie de croissance de Suncor, de ses prévisions courantes et futures en matière de dépenses en immobilisations ou de décisions d'investissement, des prix des marchandises, des coûts, des calendriers, des volumes de production, des résultats d'exploitation et des résultats financiers, des activités de financement et d'investissement futures et de l'incidence prévue des engagements futurs, constituent des énoncés prospectifs. Certains énoncés prospectifs se reconnaissent à l'emploi d'expressions comme « s'attend à », « anticipe », « estime », « planifie », « prévu », « a l'intention de », « croit », « projette », « indique », « pourrait », « se concentre sur », « vision », « but », « perspectives », « proposé », « cible », « objectif », « continue », « devrait », « futur », « avenir », « potentiel », « occasion », « priorité », « stratégie » et autres expressions analogues. Les énoncés prospectifs formulés dans le présent communiqué font référence aux éléments suivants : la stratégie, les axes privilégiés, les objectifs et les priorités de Suncor, ainsi que les avantages qui devraient en découler; les cibles établies lors de la Journée des investisseurs 2026 de Suncor et l'attente selon laquelle Suncor atteindra ses nouvelles cibles triennales; et le fait que Suncor prévoit effectuer des rachats d'actions d'environ 4 G$ en 2026, ce qui représente une hausse de plus de 30 % par rapport aux rachats d'actions de 2025. En outre, tous les autres énoncés et renseignements traitant de la stratégie de croissance de Suncor, de ses décisions en matière de dépenses et d'investissements prévus et futurs, des prix des marchandises, des coûts, des calendriers, des volumes de production, des résultats opérationnels et des résultats financiers, et de l'incidence prévue des engagements futurs, constituent des énoncés prospectifs. Certains énoncés et renseignements prospectifs se reconnaissent à l'emploi d'expressions comme « s'attend », « prévoit », « estimations », « planifie », « prévu », « entend », « croit », « projets », « indique », « pourrait », « se concentre », « vision », « but », « perspectives », « proposé », « cible », « objectif », « continue », « devrait », « peut » et autres expressions analogues.
Les énoncés prospectifs reposent sur les attentes actuelles, les estimations, les projections et les hypothèses que la Société a formulées à la lumière des informations qui étaient à sa disposition au moment où les présents énoncés ont été formulés, et en fonction de son expérience et de sa perception des tendances historiques, notamment les attentes et hypothèses au sujet de l'exactitude des estimations des réserves; les prix des marchandises, les taux d'intérêt et les taux de change; le rendement des actifs et du matériel; la rentabilité des capitaux et les économies de coûts; les lois applicables et les politiques gouvernementales; les niveaux de production futurs; la suffisance des dépenses en immobilisations budgétées pour l'exécution des activités planifiées; la disponibilité et le coût de la main-d'œuvre, des services et des infrastructures; la capacité de tiers à remplir leurs obligations envers Suncor; l'élaboration et l'exécution de projets; et la réception en temps utile des approbations des autorités de réglementation et des tiers.
Les énoncés et les renseignements prospectifs ne sont pas des garanties d'un rendement futur et comportent un certain nombre de risques et d'incertitudes, dont certains sont similaires à ceux qui touchent d'autres sociétés pétrolières et gazières et d'autres sont propres à Suncor. Les résultats réels de Suncor pourraient différer de façon significative de ceux exprimés ou suggérés de manière implicite dans ses énoncés ou renseignements prospectifs. Le lecteur est donc averti de ne pas s'y fier indûment.
La notice annuelle et le rapport annuel aux actionnaires de Suncor, chacun daté du 25 février 2026, le formulaire 40-F, le rapport aux actionnaires pour le premier trimestre de 2026 daté du 5 mai 2026 et les autres documents que Suncor dépose périodiquement auprès des autorités en valeurs mobilières décrivent les risques, incertitudes et hypothèses significatives et les autres facteurs qui pourraient avoir une incidence sur les résultats réels et de tels facteurs sont intégrés par renvoi aux présentes. On peut se procurer ces documents en consultant le site Internet de Suncor à l'adresse suncor.com/fr-CA/FinancialReports ou sur SEDAR+ au sedarplus.ca ou sur EDGAR au sec.gov. Sauf dans les cas où les lois applicables sur les valeurs mobilières l'exigent, Suncor se dégage de toute intention ou obligation de mettre à jour ou de réviser publiquement ses renseignements de nature prospective, que ce soit en raison de nouvelles informations, d'événements futurs ou d'autres circonstances.
Le rapport aux actionnaires pour le premier trimestre de 2026 de Suncor, les états financiers et les notes (non audités) peuvent être téléchargés à partir du profil de la Société au sedarplus.ca ou au sec.gov ou du site Web de Suncor, au suncor.com/fr-CA/FinancialReports.
Pour écouter la webdiffusion portant sur les résultats du premier trimestre de Suncor, veuillez visiter suncor.com/webdiffusions. La webdiffusion sera archivée pendant 90 jours.
Suncor Énergie - la plus importante société énergétique intégrée du Canada
Les activités de Suncor couvrent l'ensemble de la chaîne de valeur énergétique, y compris l'exploitation des sables pétrolifères et les activités in situ, la valorisation, la production extracôtière, le raffinage du pétrole au Canada et aux États-Unis, la commercialisation et la négociation, ainsi que les réseaux nationaux de vente au détail et en gros de Petro-CanadaMC, fournissant une énergie fiable qui alimente la croissance économique et répond aux besoins des clients partout au Canada et à l'échelle mondiale. Fortement axée sur la sécurité, l'excellence opérationnelle et la rentabilité, Suncor s'engage à offrir une performance de premier plan dans le secteur et à créer de la valeur à long terme pour les actionnaires. Les actions ordinaires de Suncor (symbole : SU) sont inscrites à la Bourse de Toronto et à la Bourse de New York.
Pour en savoir plus sur Suncor, visitez notre site Web à suncor.com ou trouvez-nous sur LinkedIn, Instagram et Facebook.
Pour consulter la version originale de ce communiqué de presse, visitez le https://www.newsfilecorp.com/release/296066
Source: Suncor Energy Inc.
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Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and derived from the company's condensed consolidated financial statements which are based on Canadian generally accepted accounting principles (GAAP), specifically International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), and are prepared in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. Production volumes are presented on a working-interest basis, before royalties, except for production values from the company's Libya operations, which are presented on an economic basis. Certain financial measures referred to in this news release (adjusted funds from operations, adjusted operating earnings, free funds flow, and net debt) are not prescribed by Canadian generally accepted accounting principles (GAAP). See the Non-GAAP Financial Measures section of this news release. References to Oil Sands operations exclude Suncor Energy Inc.'s ownership of Fort Hills and interest in Syncrude.
Calgary, Alberta--(Newsfile Corp. - May 5, 2026) - Suncor Energy (TSX: SU) (NYSE: SU)
First Quarter Highlights
Generated over $4.0 billion in adjusted funds from operations and $2.9 billion in free funds flow.
Returned over $1.5 billion to shareholders, with $825 million in share repurchases and over $700 million in dividends.
Record first quarter upstream production of 875,000 barrels per day (bbls/d), 22,000 bbls/d higher than the prior year quarter.
Record first quarter refining throughput of 498,000 bbls/d, 15,000 bbls/d higher than the prior year quarter.
Record quarterly refined product sales of 681,000 bbls/d, 76,000 bbls/d higher than the prior year quarter.
"As showcased at our recent Investor Day, today's Suncor is a results-oriented, high-performance organization focused on meeting our commitments and generating strong and sustainable shareholder returns," said Rich Kruger, President and Chief Executive Officer. "We delivered record first quarter upstream production and refining throughput in addition to an all-time quarterly record for refined product sales."
"We achieved this performance while maintaining a disciplined capital spending program as well as a strong balance sheet, allowing us to increase our monthly share repurchases for the second time in four months," added Troy Little, Chief Financial Officer.
First Quarter Results
Financial Highlights
Q1 Q4 Q1 ($ millions, unless otherwise noted)
202620252025Net earnings
2 100 1 476 1 689Per common share(1) (dollars)
1.77 1.23 1.36Adjusted operating earnings(2)
2 300 1 325 1 629Per common share(1)(2) (dollars)
1.93 1.10 1.31Adjusted funds from operations(2)
4 030 3 218 3 045Per common share(1)(2) (dollars)
3.39 2.68 2.46Cash flow provided by operating activities
2 435 3 921 2 156Per common share(1) (dollars)
2.05 3.27 1.74Capital expenditures(3)
1 076 1 483 1 087Free funds flow(2)
2 913 1 699 1 900Dividend per common share(1) (dollars)
0.60 0.60 0.57Share repurchases per common share(4) (dollars)
0.69 0.65 0.61Returns to shareholders(5)
1 537 1 494 1 455Operating, selling and general expenses
3 778 3 518 3 297Net debt(2)
6 842 6 337 7 559Operating Highlights
Total upstream production (mbbls/d)
875.2909.0853.2Refinery crude oil processed (mbbls/d)
497.8504.2482.7Refinery utilization(6) (%)
97 99 94(1) Presented on a basic per share basis.
(2) Non-GAAP financial measures or contains non-GAAP financial measures. See the Non-GAAP Financial Measures section of this news release.
(3) Excludes capitalized interest.
(4) Calculated as the cost of share repurchases, excluding taxes paid on share repurchases, divided by the weighted average number of shares outstanding.
(5) Includes dividends paid on common shares and repurchases of common shares; excludes taxes paid on common share repurchases.
(6) Effective January 1, 2026, Suncor increased the nameplate capacity of its refining network by 10% from 466,000 bbls/d to 511,000 bbls/d. All prior quarter utilization rates have been restated to reflect this change.
Financial Results
Adjusted Operating Earnings Reconciliation(1)
Q1 Q4 Q1 ($ millions)
202620252025Net earnings
2 100 1 476 1 689Unrealized foreign exchange loss (gain) on U.S. dollar denominated debt
139 (114) (14)Unrealized loss (gain) on risk management activities
92 7 (60)Provision reversal related to equity investments
- (66) -Income tax (recovery) expense on adjusted operating earnings adjustments
(31) 22 14Adjusted operating earnings(1)
2 300 1 325 1 629(1) Non-GAAP financial measure. All reconciling items are presented on a before-tax basis and adjusted for income taxes in the income tax (recovery) expense on adjusted operating earnings adjustments line. See the Non-GAAP Financial Measures section of this news release.
Suncor's adjusted operating earnings increased to $2.300 billion ($1.93 per common share) in the first quarter of 2026, compared to $1.629 billion ($1.31 per common share) in the prior year quarter, primarily due to increased downstream margins and upstream price realizations, and increased upstream and downstream sales volumes, partially offset by increased operating and transportation expenses associated with the higher sales volumes. Adjusted operating earnings were also impacted by a strengthening of benchmark pricing in the current quarter, resulting in a first-in, first-out (FIFO) inventory valuation gain, partially offset by a deferral of intersegment profit.
Net earnings increased to $2.100 billion ($1.77 per common share) in the first quarter of 2026, compared to $1.689 billion ($1.36 per common share) in the prior year quarter. In addition to the factors impacting adjusted operating earnings, net earnings for the first quarter of 2026 and the prior year quarter were impacted by the items shown in the table above.
Adjusted funds from operations increased to $4.030 billion ($3.39 per common share) in the first quarter of 2026, compared to $3.045 billion ($2.46 per common share) in the prior year quarter, and were primarily influenced by the same factors impacting adjusted operating earnings.
Cash flow provided by operating activities, which includes changes in non-cash working capital, was $2.435 billion ($2.05 per common share) in the first quarter of 2026, compared to $2.156 billion ($1.74 per common share) in the prior year quarter.
Operating, selling and general (OS&G) expenses were $3.778 billion in the first quarter of 2026, compared to $3.297 billion in the prior year quarter, with the increase primarily due to increased share-based compensation expense, higher upstream and downstream sales volumes, increased maintenance activities and higher commodity input costs.
Total Oil Sands bitumen production
933.9 992.7 937.3SCO and diesel production
550.8 586.8 567.3Inter-asset transfers and consumption
(31.5) (29.8) (30.7)Upgraded production - net SCO and diesel
519.3 557.0 536.6Bitumen production
364.7 343.5 341.7Inter-asset transfers
(85.2) (55.1) (87.4)Non-upgraded bitumen production
279.5 288.4 254.3Total Oil Sands production
798.8 845.4 790.9Exploration and Production
76.4 63.6 62.3Total upstream production
875.2 909.0 853.2Upstream sales
872.1 905.5 828.4
Downstream
Refinery utilization(1) (%)
97 99 94Refinery crude oil processed
497.8 504.2 482.7Refined product sales
680.9 640.4 604.9Total Oil Sands bitumen production of 933,900 bbls/d was comparable to the prior year quarter of 937,300 bbls/d and featured record quarterly production at Fort Hills. Current quarter bitumen production was also impacted by maintenance at Syncrude and the impact of a third-party natural gas input pipeline curtailment in the region.
The company's net synthetic crude oil (SCO) production was 519,300 bbls/d with upgrader utilization of 96% in the first quarter of 2026, compared to 536,600 bbls/d and 102%, respectively, in the prior year quarter, as record quarterly SCO production at Oil Sands Base was offset by increased maintenance activities at Syncrude.
Non-upgraded bitumen production increased to 279,500 bbls/d in the first quarter of 2026, compared to 254,300 bbls/d in the prior year quarter, primarily due to decreased upgrader availability.
Upstream sales volumes increased to 872,100 bbls/d in the first quarter of 2026, compared to 828,400 bbls/d in the prior year quarter, which was consistent with the increase in upstream production volumes and the impact of a larger build in inventory in the prior year quarter.
Exploration and Production (E&P) production increased to 76,400 bbls/d in the first quarter of 2026, compared to 62,300 bbls/d in the prior year quarter, and featured strong production at all assets.
Refining throughput increased to a first quarter record of 497,800 bbls/d compared to 482,700 bbls/d in the prior year quarter due to incremental capacity additions resulting from debottlenecking activities and sustained strong operating performance through the current quarter. Refinery utilization(1) was 97% in the first quarter of 2026 and reflects the 10% increase in refining network nameplate capacity to 511,000 bbls/d effective January 1, 2026.
Refined product sales increased to a quarterly record of 680,900 bbls/d, compared to 604,900 bbls/d in the prior year quarter, as Suncor capitalized on global export sales opportunities while continuing to deliver more domestic volumes through retail growth and strategic partnerships. Sales volumes reflected higher refinery production in the quarter, partially driven by higher secondary unit utilization.
(1) Effective January 1, 2026, Suncor increased the nameplate capacity of its refining network by 10% from 466,000 bbls/d to 511,000 bbls/d. All prior quarter utilization rates have been restated to reflect this change.
Corporate and Strategy Updates
2026 projected share repurchases increased by over 30%. Subsequent to the quarter, Suncor increased its planned monthly share repurchases from $275 million per month to $350 million per month, projecting total 2026 share repurchases of nearly $4 billion for 2026, an increase of over 30% relative to 2025 share repurchases.
Investor Day was held March 31, outlining Suncor's new three-year commitments. For further details, including the full transcript and presentation visit www.suncor.com.
Investor Day highlights included:
$2 billion increase in free funds flow (at US$65 WTI) by 2028.
US$5 per barrel reduction in corporate WTI breakeven to US$38 per barrel by 2028.
100,000 bbls/d of upstream production growth by 2028.
10% increase in refining network nameplate capacity to 511,000 bbls/d.
Corporate Guidance Updates
Suncor has updated its 2026 corporate guidance ranges, previously released on December 11, 2025, reflecting a 10% increase in refining network nameplate capacity to 511,000 bbls/d, which resulted in refinery utilization guidance changing from 99%-102% to 90%-93%. Refinery throughput guidance remains unchanged at 460,000-475,000 bbls/d.
For further details and advisories regarding Suncor's 2026 corporate guidance, see www.suncor.com/guidance.
Non-GAAP Financial Measures
Certain financial measures in this news release - namely adjusted funds from operations, adjusted operating earnings, free funds flow, net debt, and related per share or per barrel amounts - are not prescribed by GAAP. These non-GAAP financial measures are included because management uses the information to analyze business performance, leverage and liquidity, as applicable, and it may be useful to investors on the same basis. These non-GAAP financial measures do not have any standardized meaning and, therefore, are unlikely to be comparable to similar measures presented by other companies. Therefore, these non-GAAP financial measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Except as otherwise indicated, these non-GAAP financial measures are calculated and disclosed on a consistent basis from period to period. Specific adjusting items may only be relevant in certain periods.
Adjusted Operating Earnings
Adjusted operating earnings is a non-GAAP financial measure that adjusts net earnings for significant items that are not indicative of operating performance. Management uses adjusted operating earnings to evaluate operating performance because management believes it provides better comparability between periods. Adjusted operating earnings are reconciled to net earnings in the news release above.
Adjusted Funds From (Used In) Operations
Adjusted funds from (used in) operations is a non-GAAP financial measure that adjusts a GAAP measure - cash flow provided by operating activities - for changes in non-cash working capital, which management uses to analyze operating performance and liquidity. Changes to non-cash working capital can be impacted by, among other factors, commodity price volatility, the timing of offshore feedstock purchases and payments for commodity and income taxes, the timing of cash flows related to accounts receivable and accounts payable, and changes in inventory, which management believes reduces comparability between periods.
Three months ended March 31Oil SandsExploration and ProductionRefining and
MarketingCorporate and EliminationsIncome TaxesTotal($ millions)202620252026202520262025202620252026202520262025Earnings (loss) before income taxes 1 516 1 675 382 158 1 650 672 (722) (215) - - 2 826 2 290Adjustments for:
Depreciation, depletion and amortization 1 235 1 199 175 171 276 257 45 36 - - 1 731 1 663Accretion 130 124 19 16 4 3 - - - - 153 143Unrealized foreign exchange loss (gain) on U.S. dollar denominated debt - - - - - - 139 (14) - - 139 (14)Change in fair value of financial instruments and trading inventory 141 (68) (8) (6) 56 17 - - - - 189 (57)Gain on disposal of assets - - - - (6) - (7) - -
(13) -Share-based compensation (34) (86) (2) (6) (14) (40) (70) (171) - - (120) (303)Settlement of decommissioning and
restoration liabilities (140) (79) (5) (3) (13) (12) - - - - (158) (94)Other 46 45 1 - 28 5 (15) 15 - - 60 65Current income tax expense - - - - - - - - (777) (648) (777) (648)Adjusted funds from (used in) operations 2 894 2 810 562 330 1 981 902 (630) (349) (777) (648) 4 030 3 045Change in non-cash working capital
(1 595) (889)Cash flow provided by operating activities
2 435 2 156Free Funds Flow (Deficit)
Free funds flow (deficit) is a non-GAAP financial measure that is calculated by taking adjusted funds from operations and subtracting capital expenditures, including capitalized interest. Free funds flow reflects cash available for increasing distributions to shareholders and reducing debt. Management uses free funds flow to measure the capacity of the company to increase returns to shareholders and to grow Suncor's business.
Three months ended March 31Oil SandsExploration and
ProductionRefining and
MarketingCorporate and
EliminationsIncome TaxesTotal($ millions)202620252026202520262025202620252026202520262025Adjusted funds from (used in) operations 2 894 2 810 562 330 1 981 902 (630) (349) (777) (648) 4 030 3 045Capital expenditures including capitalized interest (746) (749) (128) (209) (232) (180) (11) (7) - - (1 117) (1 145)Free funds flow (deficit) 2 148 2 061 434 121 1 749 722 (641) (356) (777) (648) 2 913 1 900Net Debt and Total Debt
Net debt and total debt are non-GAAP financial measures that management uses to analyze the financial condition of the company. Total debt includes short-term debt, current portion of long-term debt and long-term debt (all of which are GAAP measures). Net debt is equal to total debt less cash and cash equivalents (a GAAP measure).
March 31December 31($ millions, except as noted)
20262025Short-term debt
- -Current portion of long-term debt
979 973Long-term debt
9 134 9 014Total debt
10 113 9 987Less: Cash and cash equivalents
3 271 3 650Net debt
6 842 6 337Shareholders' equity
45 776 45 124Total debt plus shareholders' equity
55 889 55 111Total debt to total debt plus shareholders' equity (%)
18.1 18.1Net debt to net debt plus shareholders' equity (%)
13.0 12.3Legal Advisory - Forward-Looking Information
This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as "forward-looking statements") and other information based on Suncor's current expectations, estimates, projections and assumptions that were made by the company in light of information available at the time the statement was made and consider Suncor's experience and its perception of historical trends, including expectations and assumptions concerning: the accuracy of reserves estimates; commodity prices and interest and foreign exchange rates; the performance of assets and equipment; uncertainty related to geopolitical conflict; capital efficiencies and cost savings; applicable laws and government policies; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour, services and infrastructure; the satisfaction by third parties of their obligations to Suncor; the development and execution of projects; and the receipt, in a timely manner, of regulatory and third-party approvals. All statements and information that address expectations or projections about the future, and other statements and information about Suncor's strategy for growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial results, future financing and capital activities, and the expected impact of future commitments are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "will", "estimates", "plans", "scheduled", "intends", "believes", "projects", "indicates", "could", "focus", "vision", "goal", "outlook", "proposed", "target", "objective", "continue", "should", "may", "future", "potential", "opportunity", "would", "priority", "strategy" and similar expressions. Forward-looking statements in this news release include references to: Suncor's strategy, focus, goals and priorities and the expected benefits therefrom, Suncor's 2026 Investor Day targets and the expectation that Suncor will achieve its new three-year targets; and Suncor's projection of nearly $4 billion of share repurchases in 2026, an increase of over 30% relative to 2025 share repurchases. In addition, all other statements and information about Suncor's strategy for growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial results and the expected impact of future commitments are forward-looking statements. Some of the forward-looking statements and information may be identified by words like "expects", "anticipates", "will", "estimates", "plans", "scheduled", "intends", "believes", "projects", "indicates", "could", "focus", "vision", "goal", "outlook", "proposed", "target", "objective", "continue", "should", "may" and similar expressions.
Forward-looking statements are based on Suncor's current expectations, estimates, projections and assumptions that were made by the company in light of its information available at the time the statement was made and consider Suncor's experience and its perception of historical trends, including expectations and assumptions concerning: the accuracy of reserves estimates; commodity prices and interest and foreign exchange rates; the performance of assets and equipment; capital efficiencies and cost savings; applicable laws and government policies; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour, services and infrastructure; the satisfaction by third parties of their obligations to Suncor; the development and execution of projects; and the receipt, in a timely manner, of regulatory and third-party approvals.
Forward-looking statements and information are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Suncor. Suncor's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.
Suncor's Annual Information Form and Annual Report to Shareholders, each dated February 25, 2026, Form 40-F, Suncor's Report to Shareholders for the First Quarter of 2026 dated May 5, 2026, and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available by referring to suncor.com/FinancialReports or on SEDAR+ at sedarplus.ca or EDGAR at sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
To view a full copy of Suncor's first quarter 2026 Report to Shareholders and the financial statements and notes (unaudited), visit Suncor's profile on sedarplus.ca or sec.gov or visit Suncor's website at suncor.com/financialreports.
To listen to the conference call discussing Suncor's first quarter results, visit suncor.com/webcasts. The event will be archived for 90 days.
Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296064
Source: Suncor Energy Inc.
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Suncor Energy facility is seen in Sherwood Park, Alberta, Canada August 21, 2019. REUTERS/Candace Elliott/File Photo Purchase Licensing Rights, opens new tab
CompaniesMay 5 (Reuters) - Canada's Suncor Energy (SU.TO), opens new tab beat Wall Street estimates for first-quarter adjusted profit on Tuesday, driven by higher production and throughput volumes.
The quarter was marked by geopolitical uncertainty and extreme volatility in global oil prices, which have surged more than 87% this year after the U.S.-Israeli war on Iran disrupted supply chains and damaged key energy infrastructure.
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Canadian oil and gas producers have steadily boosted output while lowering costs. Suncor and its peers have outperformed many global rivals amid macro uncertainty due to years of investment, making them North America's lowest-cost operators.
Suncor's upstream quarterly production rose to 875,000 barrels per day (bpd) from 853,000 bpd a year earlier.
Its refinery throughput rose 15,000 bpd to 498,000 bpd during the quarter, with utilization rates of 97%.
The Canadian producer benefited from incremental capacity additions and higher refining network nameplate capacity.
The company lowered its refinery utilization guidance to 90%–93% from 99%–102%, while keeping throughput guidance unchanged at 460,000–475,000 bpd.
Suncor also raised its projected share repurchases by over 30% and expects to buy back $4 billion worth of shares in 2026.
The Calgary, Alberta-based company posted an adjusted profit of C$1.93 ($1.42) per share for the quarter ended March 31, compared with analysts' average estimate of C$1.79 per share, according to data compiled by LSEG.
($1 = 1.3617 Canadian dollars)
Reporting by Anushka Chourasia in Bengaluru; Editing by Tasim Zahid
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Calgary, Alberta--(Newsfile Corp. - 5 mai 2026) - Suncor Énergie (TSX : SU) (NYSE : SU) a tenu aujourd'hui son assemblée générale annuelle des actionnaires à Calgary. Un total de 842 465 674 actions (environ 71,05 % des actions ordinaires en circulation) étaient représentées en personne ou par procuration.
Les actionnaires ont voté comme suit sur les propositions avant l'assemblée :
Les actionnaires ont élu les dix membres suivants au Conseil d'administration (dont neuf sont indépendants), avec les votes afférents aux actions représentées étant en faveur des administrateurs individuels suivants : Ian R. Ashby 98,69 %Russell Girling 92,12 %Jean Paul (JP) Gladu 98,61 %Jennifer R. Kneale 99,16 %Richard M. Kruger 99,02 %Brian P. MacDonald 97,54 %Lorraine Mitchelmore 92,78 % Jane L. Peverett 97,98 %Christopher R. Seasons 98,70 %M. Jacqueline Sheppard 98,28 %Les actionnaires ont désigné KPMG s.r.l. à titre de vérificateurs de Suncor. L'approche de la direction quant à la rémunération de la haute direction dont il est question dans la circulaire de sollicitation de procurations de la direction de Suncor datée du 25 février 2026 a été approuvée par un vote tenu par scrutin de 94,72 % des actions représentées. La résolution demandant que Suncor prépare un rapport afin de détailler la gouvernance de la Société et la surveillance de ses risques liés au climat a été refusée selon un vote tenu par scrutin de 80,39 % contre la proposition des actions représentées, conformément à la recommandation de la direction.Remarque : Les biographies des membres du Conseil d'administration et d'autres détails sur les pratiques de Suncor en matière de gouvernance sont disponibles à suncor.com.
Une version archivée de la webdiffusion de l'assemblée sera disponible pour une période de 90 jours à https://www.suncor.com/fr-ca/investisseurs/evenements-et-presentations.
Suncor Énergie - la plus importante société énergétique intégrée du Canada
Les activités de Suncor couvrent l'ensemble de la chaîne de valeur énergétique, incluant les activités d'exploitation minière et in situ des sables bitumineux, la valorisation, la production extracôtière, le raffinage du pétrole au Canada et aux États-Unis, la commercialisation et les échanges commerciaux, ainsi que les réseaux de ventes au détail et de ventes en gros Petro-CanadaMC à l'échelle nationale - fournissant de l'énergie fiable qui alimente la croissance économique et répond aux besoins des clients partout au Canada et dans le monde. Grâce à un engagement inébranlable envers la sécurité, l'excellence opérationnelle et la rentabilité, Suncor est déterminée à atteindre un rendement parmi les meilleurs de l'industrie et à offrir une valeur à long terme aux actionnaires. Les actions ordinaires de Suncor (symbole : SU) sont inscrites à la Bourse de Toronto et à la Bourse de New York.
Pour plus d'information, visitez suncor.com ou trouvez-nous sur LinkedIn, Instagram et Facebook.
Pour consulter la version originale de ce communiqué de presse, visitez le https://www.newsfilecorp.com/release/296100
Source: Suncor Energy Inc.
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Calgary, Alberta--(Newsfile Corp. - May 5, 2026) - Suncor Energy (TSX: SU) (NYSE: SU) held its Annual General Meeting in Calgary today. A total of 842,465,674 shares (approximately 71.05% of outstanding common shares) were represented in person or by proxy.
Shareholders voted as follows on the matters before the meeting:
Shareholders elected the following ten board members (nine of whom are independent), with shares represented at the meeting voting in favour of individual directors as follows: Ian R. Ashby 98.69%
Russell Girling 92.12%
Jean Paul (JP) Gladu 98.61%
Jennifer R. Kneale 99.16%
Richard M. Kruger 99.02%
Brian P. MacDonald 97.54%
Lorraine Mitchelmore 92.78%
Jane L. Peverett 97.98%
Christopher R. Seasons 98.70%
M. Jacqueline Sheppard 98.28%
Shareholders appointed KPMG LLP as Suncor's auditors. Management's approach to executive compensation (say on pay) disclosed in Suncor's management proxy circular dated February 25, 2026 was approved with 94.72% of shares represented at the meeting voting in favour. The resolution requesting Suncor prepare a report detailing the corporation's governance and oversight of its climate-related risks was denied with 80.39% of shares represented at the meeting voting against the proposal, in line with management's recommendation.Note: the biographies of Board members and further details about Suncor's corporate governance practices are available at suncor.com.
An archive of the meeting webcast will be available for the next 90 days at https://www.suncor.com/en-ca/investors/events-and-presentations.
Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296099
Suncor Energy (SU - Free Report) came out with quarterly earnings of $1.41 per share, missing the Zacks Consensus Estimate of $1.45 per share. This compares to earnings of $0.91 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -2.42%. A quarter ago, it was expected that this energy company would post earnings of $0.77 per share when it actually produced earnings of $0.79, delivering a surprise of +2.6%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Suncor Energy, which belongs to the Zacks Oil and Gas - Integrated - Canadian industry, posted revenues of $10.69 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 19.53%. This compares to year-ago revenues of $8.67 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Suncor Energy shares have added about 54.6% since the beginning of the year versus the S&P 500's gain of 5.2%.
What's Next for Suncor Energy?While Suncor Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Suncor Energy was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.60 on $8.92 billion in revenues for the coming quarter and $6.72 on $39.08 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Integrated - Canadian is currently in the top 2% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Cenovus Energy (CVE - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.
This oil company is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of +75%. The consensus EPS estimate for the quarter has been revised 39.1% higher over the last 30 days to the current level.
Cenovus Energy's revenues are expected to be $9.26 billion, down 0% from the year-ago quarter.
Key Takeaways SU posted record Q1 upstream production of 875,200 bbls/d and refined product sales of 680,900 bbls/d.Suncor's downstream earnings surged on higher crack spreads, refinery output and export demand.SU raised planned 2026 share repurchases to nearly C$4 billion and updated refining capacity guidance. Suncor Energy Inc. (SU - Free Report) reported first-quarter 2026 adjusted operating earnings of $1.41 per share, which missed the Zacks Consensus Estimate of $1.45 by 3%. This underperformance can be attributed to a 16.5% increase in total expenses and higher commodity input costs during the quarter. However, the bottom line increased from the year-ago quarter’s reported figure of 91 cents due to stronger downstream margins, higher upstream price realizations and increased sales volumes.
Calgary-based integrated oil and gas company’s operating revenues of $10.7 billion beat the Zacks Consensus Estimate of $8.9 billion by 19.53%. The top line increased approximately 23.2% year over year, aided by record refined product sales, higher refinery production and stronger benchmark crack spreads.
Suncor delivered a strong operating quarter, with record first-quarter upstream production of 875,200 barrels per day (bbls/d), up from 853,200 bbls/d in the year-ago quarter. Refining throughput also reached a first-quarter record of 497,800 bbls/d, compared with 482,700 bbls/d a year earlier, while refined product sales rose to a quarterly record of 680,900 bbls/d from 604,900 bbls/d in the prior-year period.
Management highlighted that the quarter reflected continued momentum from 2025, supported by record first-quarter upstream output, strong refinery performance and expanded product sales through domestic retail growth and global export opportunities.
Q1 Segmental PerformanceUpstream: Suncor delivered a strong operating quarter, with record first-quarter upstream production of 875,200 bbls/d, up from 853,200 bbls/d in the year-ago quarter. Moreover, the figure beat the consensus estimate of 868,000 bbls/d.
Total Oil Sands production was 798,800 bbls/d, up from 790,900 bbls/d in the year-ago quarter. Total Oil Sands bitumen production was 933,900 bbls/d, broadly comparable with 937,300 bbls/d in the prior-year period, and featured record quarterly production at Fort Hills. However, Syncrude maintenance and a third-party natural gas input pipeline curtailment weighed on production.
Net synthetic crude oil and diesel production declined to 519,300 bbls/d from 536,600 bbls/d a year earlier due to lower Syncrude upgrader availability. Non-upgraded bitumen production increased to 279,500 bbls/d from 254,300 bbls/d, primarily due to decreased upgrader availability.
Oil Sands adjusted operating earnings were C$1.57 billion, down from C$1.62 billion in the prior-year quarter, as higher operating expenses, share-based compensation, commodity input costs and asset advancement expenses more than offset improved price realizations and sales volumes.
Exploration and Production (E&P) production rose to 76,400 bbls/d from 62,300 bbls/d in the year-ago period, driven by strong production across assets. Adjusted operating earnings in the segment increased to C$382 million from C$158 million, primarily due to higher sales volumes and stronger price realizations.
Downstream: The segment was the key driver of the quarter’s strength. Adjusted operating earnings surged to C$1.68 billion from C$667 million in the prior-year quarter, primarily due to a significant FIFO inventory valuation gain, higher benchmark crack spreads and increased refinery production. Refinery utilization was 97%, up from 94% in the prior-year quarter, reflecting Suncor’s increased refining network nameplate capacity of 511,000 bbls/d.
Refined product sales climbed to 680,900 bbls/d, a 12.6% increase from 604,900 bbls/d in the prior-year quarter, supported by global export opportunities, retail growth and strategic partnerships. Moreover, the figure beat the consensus estimate of 594,000 bbls/d. On the earnings call, management noted that Suncor used its export capabilities and trading relationships to capture attractive margins in markets such as the Philippines and Puerto Rico.
SU’s Financial PositionTotal expenses increased 16.5% to C$118 billion from the prior-year quarter. Cost of purchases of crude oil and products increased to C$5.2 billion in the first quarter of 2026, compared with C$4.3 billion in the prior-year quarter. Cost and operating, selling and general increased 14.6% to C$3.8 billion from the prior-year quarter.
Suncor generated C$4.03 billion in adjusted funds from operations, up from C$3.05 billion in the prior-year quarter. Free funds flow increased to C$2.91 billion from C$1.90 billion. The company returned more than C$1.5 billion to its shareholders, including C$825 million in share repurchases and over C$700 million in dividends.
Capital expenditures totaled C$1.08 billion, broadly flat with the year-ago quarter. As of March 31, 2026, Suncor had cash and cash equivalents of C$3.27 billion and long-term debt of C$10.1 billion. Its debt-to-capitalization was 18.1%.
SU’s Guidance and Shareholder ReturnsSuncor updated its 2026 corporate guidance to reflect the 10% increase in refining network nameplate capacity to 511,000 bbls/d. Refinery throughput guidance has remained unchanged at 460,000-475,000 bbls/d, while refinery utilization guidance has been revised to 90-93% due to the larger capacity base.
This Zacks Rank #1 (Strong Buy) company has also increased its planned monthly share repurchases from C$275 million to C$350 million, implying nearly C$4 billion in total 2026 buybacks, more than 30% up from 2025 repurchases. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company expects 2026 corporate guidance to reflect strong operational performance across its integrated energy portfolio. Total upstream production is projected between 840,000 bbls/d and 870,000 bbls/d, supported by Oil Sands output of 785,000-810,000 bbls/d and E&P production of 55,000-60,000 bbls/d.
Refinery throughput is anticipated to range from 460,000 bbls/d to 475,000 bbls/d, with utilization between 90% and 93%, and refined product sales of 600,000-620,000 bbls/d.
Cash operating costs are forecasted to remain competitive, with Oil Sands Operations at $26-$29 per barrel, Fort Hills at $33-$36 and Syncrude at $34-$37, reflecting continued efficiency improvements and disciplined cost management.
The company expects total capital expenditures in 2026 to be between $5.6 billion and $5.8 billion. Of this, approximately $2.6-$2.7 billion will be directed toward economic investment capital, funding projects that enhance efficiency, flexibility and resilience. Key allocations include $425-$475 million for Exploration & Production, $430-$460 million for new In Situ well pads and $1.74-$1.76 billion for other economic investments.
In addition, $3-$3.1 billion will be dedicated to asset sustainment and maintenance capital, supporting the base business and regular upkeep. This includes $2.1-$2.15 billion for Oil Sands, $875-$925 million for Downstream operations and $25 million for Corporate. Notable projects within this budget include West White Rose, Firebag and MacKay River well pads, Fort Hills North Pit, Petro-Canada retail growth and Mildred Lake East.
Important Earnings at a GlanceWhile we have discussed SU’s first-quarter results in detail, let us take a look at three other key reports in this space.
Halliburton Company (HAL - Free Report) , a Houston, TX-based oil and gas equipment and services provider, posted first-quarter 2026 adjusted net income per share of 55 cents, beating the Zacks Consensus Estimate of 49 cents. The outperformance primarily reflects successful cost reduction initiatives. However, the bottom line fell from the year-ago adjusted profit of 60 cents.
Halliburton reported first-quarter capital expenditure of $192 million. As of March 31, 2026, this oil and gas equipment and services company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization ratio of 39.6.
Kinder Morgan Inc. (KMI - Free Report) , a Houston, TX-based oil and gas storage and transportation company,posted first-quarter 2026 adjusted earnings per share of 48 cents, which beat the Zacks Consensus Estimate of 38 cents. The bottom line increased year over year from 34 cents. The strong quarterly results can be primarily attributed to contributions from the Natural Gas Pipelines business segment.
As of March 31, 2026, KMI reported $72 million in cash and cash equivalents. At the quarter's end, its long-term debt amounted to $29.72 billion. KMI’s project backlog was reported at $10.1 billion by the end of the first quarter. The midstream energy major added that natural gas projects comprise approximately 92% of its project backlog, with nearly 60% dedicated to supporting local distribution companies and power generation.
Range Resources Corporation (RRC - Free Report) , a Fort Worth, TX-based oil and gas exploration and production company, posted first-quarter 2026 adjusted earnings of $1.52 per share, which beat the Zacks Consensus Estimate of $1.33. The bottom line also improved from the prior-year level of 96 cents. Strong quarterly results can be attributed to higher gas-equivalent production and increased natural gas price realization.
Drilling and completion expenditure totaled $130 million. An additional $5 million was spent on acreage and $4 million on infrastructure and other investments. At the end of the first quarter, Range Resources reported a total debt of $819.3 million, net of deferred financing costs.
For Immediate ReleasesChicago, IL – May 12, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Cummins (CMI - Free Report) , Suncor Energy (SU - Free Report) , ASE Technology (ASX - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:U.S. President Heads to China: Global Week AheadWhat happens across this Global Week Ahead?
Shuttle diplomacy reaches a peak, in the week to come, as U.S. President Donald Trump heads to China; and his Treasury Secretary visits Japan.Macro data from Anglosphere economies, the U.S. & U.K., and the Eurozone, could sharpen the contours of the Middle East conflict's economic impact.Oil production heavyweight Saudi Aramco, reports Q1 earnings results, against this brittle backdrop.
Next are Reuters’ five world market themes, re-ordered for equity traders—(1) Monday, U.S. Treasury Secretary Bessent visits Japan. Then heads to China.
Japan current account numbers on Wednesday and earnings from the Japanese megabanks out over the week will offer a pulse check on how the country's export-heavy economy is faring as the Iran war drags on.
On Tuesday, the Bank of Japan's April meeting summary will be released after not one but three dissenting voices — giving investors a closer look at how fractured the policy debate has become.
Bond investors will also digest sales of 10-year and 30-year Japanese government bonds, a test of appetite for long-dated debt after suspected official interventions in Tokyo to boost the yen over the last fortnight.
And U.S. Treasury Secretary Scott Bessent will meet Japan's prime minister, central bank governor, and finance minister, when he begins a visit to Japan on Monday, before heading to China.
(2) Across Thursday & Friday, May 14-15, President Trump visits Beijing, China.The U.S. President visits Beijing on May 14-15, his first China visit in eight years.
He will try to lock in the trade truce agreed in October in South Korea, and avoid a rerun of the tit-for-tat tariff battle that he set off on "Liberation Day" in April 2025.
Taiwan could also feature when he meets Chinese President Xi Jinping.
The context is far from calm.
Chinese exports are booming, with the trade surplus at the end of 2025 roughly the size of the Dutch economy, while factory activity has expanded since the start of the Iran war at the end of February, private and official surveys show.
Trade data due this weekend should offer a reality check on whether a protectionist White House has managed to dent Americans' appetite for Chinese-made goods.
(3) On Tuesday, U.S. Consumer Price Index (CPI) data for April comes out.A data-heavy week ahead should give a clearer sense of how much the war-driven spike in energy prices is stoking inflation in the world's largest economy — and whether consumers are losing their appetite to spend.
Tuesday's U.S. April consumer price index is expected to rise +0.6% after March's +0.9% jump, the biggest increase in almost four years, according to a Reuters poll. Pump prices are likely to loom large in the numbers.
Producer price data for April on Wednesday is another inflation checkpoint after the Fed’s last meeting exposed a more hawkish tilt among some policymakers who are increasingly uneasy about price pressures.
Retail sales figures on Thursday should show whether higher gas and other costs are starting to bite into household spending.
(4) On Sunday, the world’s biggest exporter of crude oil reported Q1 results.The world's biggest exporter of crude oil, Saudi Aramco, reported first-quarter results on Sunday. Profits jumped +26% for the quarter, beating expectations, but the continued closure of the Strait of Hormuz would reportedly cause ther global oil market to lose 100 million barrels of oil per week.
The more than two-month-old war in Iran has caused some 20 oil refineries in the region to be damaged or shut down, taking millions of barrels of capacity offline and pushing oil prices sharply higher.
Progress to end the war in the Middle East has been slow.
Clashes between U.S. and Iranian forces in the Gulf in recent days are endangering a month-old ceasefire and shaking hopes for a diplomatic solution.
All this comes as Washington awaits a response from Tehran to its proposal to end the conflict - an outline for a temporary agreement expected to leave many of the most contentious issues unresolved.
(5) On Thursday, U.K. March macroeconomic growth data lands.Investors will parse Britain's March growth data on Thursday for the first official signs of the extent of the economic damage from the Iran war.
The release coincides with the first-quarter figures, though those may flatter to deceive after a punchy February.
Britain looks vulnerable.
The IMF gave it the biggest growth downgrade among big economies for this year, cutting its forecast to +0.8% from +1.3%.
Borrowing costs have jumped more than anywhere else among the Group of Seven advanced economies as higher energy prices feed through.
Any signs of weakening growth would land at an awkward political moment. Local elections have dealt a blow to Prime Minister Keir Starmer's Labor Party, raising doubts about his leadership.
Markets will also watch for revisions in the second read-out of Eurozone growth first quarter on Wednesday, which had come in at a meagre +0.1%.
Zacks #1 Rank (STRONG BUY) StocksNext are three Zacks #1 (STRONG BUY) large-cap stocks, benefitting last week, from fresh covering analyst earnings upgrades.
(1) Cummins: This is a $683 a share stock, with a market cap of $94.2B.
It is found in Zacks Automotive – Internal Combustion Engine industry. The stock holds a Zacks Value score of D, a Zacks Growth score of B, and a Zacks Momentum score of A.
F12M P/E: 24.5.
Cummins Inc. is a leading global designer, manufacturer and distributor of diesel and natural gas engines and powertrain-related component products.
Powertrain components include fuel systems, turbochargers, transmissions, batteries and electrified power systems, among others.
Headquartered in Columbus, IN, the company offers products to original equipment manufacturers (OEMs), distributors and dealers through a network of roughly 650 company-owned and independent distributor facilities in over 19,000 dealer locations in more than 190 countries and territories.
The acquisition of Meritor in 2022 has enhanced CMI’s position as a top provider of integrated powertrain solutions for both internal combustion and electric vehicles. This deal expanded Cummins’ components business, opening up new growth avenues.
Cummins has the following five operating segments:
The Engine segment (24.1% of consolidated net sales in 2025) produces diesel and natural gas-based engines for on-highway and industrial markets. The engines are used in heavy and medium-duty trucks, buses, recreational vehicles, and various industrial applications in the construction, mining, agriculture, marine, oil and gas, rail, defense and agricultural markets.
The Distribution segment(36.8%) is the company’s primary sales, service and support channel. It operates through a worldwide network of wholly owned, joint venture and independent distribution locations that offer a varied range of products and services, including power generation systems, high-horsepower engines, and heavy-duty and medium-duty engines.
The Components segment (25.7%) has five businesses, namely, Emission solutions, Turbo technologies, Electronics and fuel systems, and Automated transmissions.
The Power Systems segment (12.2%) sells power generators, diesel and natural gas high-horsepower engines, and AC generator or alternator products for internal consumption and external generator set assemblers. The unit houses the Power Generation, Industrial and Generator Technologies product lines.
The Accelera segment(1.2%) designs, manufactures, sells, and supports hydrogen production systems, as well as electrified power systems, ranging from fully electric to hybrid, along with innovative components and sub-systems.
(2) Suncor Energy: This is a $64 a Canadian oil & gas stock, with a market cap of $75.4B.
This company is found in the Zacks Oil & Gas Integrated – Canadian industry. The stock holds a Zacks Value score of B, a Zacks Growth score of B, and a Zacks Momentum score of C.
F12M P/E: 9.5.
Suncor Energy, Inc. is a premier integrated energy company.
The company's operations include oil sands development and upgrading, conventional and offshore crude oil and gas production, petroleum refining, and product marketing. Suncor is one of the largest owners of oil sands in the world.
The company has gained new oil sands properties to supplement its existing operations in northern Alberta.
Suncor's business can be divided into three main segments: Oil Sands, Exploration and Production, and Refining and Marketing.
Oil Sands segment mines and upgrades oil sands in Canada's Alberta province to produce refinery-ready synthetic crude oil.
Exploration and Productionincludes offshore operations off the east coast of Canada and in the North Sea, and onshore operations in Libya and Syria.
The company also owns oilfields in Sirte Basin in Libya and stakes in Elba gas development in Syria.
Refined products from refineries are marketed through Sunoco and Petro-Canada branded retail outlets.
(3) ASE Technology: This is a cheap $33 a share semi electronics stock, with a market cap of $74.1B.
It is found in the Zacks Electronics-Semiconductor industry. The stock holds a Zacks Value score of D, a Zacks Growth score of A, and a Zacks Momentum score of B.
F12M P/E: 31.8.
ASE Technology Holding Co Ltd. is a provider of semiconductor manufacturing services in assembly and testing.
The company develops and offers complete turnkey solutions covering front-end engineering testing, wafer probing and final testing as well as IC packaging, materials and electronic manufacturing services.
It operates primarily in Taiwan, China, South Korea, Japan, Singapore, Malaysia, Mexico, United States and Europe.
ASE Technology Holding Co Ltd, formerly known as ASE Industrial Holding Co., is based in Kaohsiung, Taiwan.
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Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Previewreports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
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Income investors in the Franklin International Low Volatility High Dividend Index ETF (NYSEARCA:LVHI) get paid well to sit through a quieter ride than most equity funds. LVHI screens developed-market ex-US stocks for above-average dividend yield and below-average price and earnings volatility, then weights them to dampen single-country and single-stock risk. The fund is having a strong year, with shares around $41 after a 32% total move over the past year. The question is whether the cash flows funding those distributions are as durable as the “low volatility” label implies.
How LVHI Produces Income LVHI is a passive index fund, so its distributions are a pass-through of dividends paid by roughly 100 international stocks, net of expenses and foreign withholding. There are no options premiums, leverage, or synthetic exposure. The index tilts toward Europe, Canada, the UK, and Australia, with heavy representation from energy, materials, financials, and utilities. The dividend is only as safe as the underlying payers, and four names matter most: Shell, Canadian Natural Resources, Suncor, and Rio Tinto.
Currency risk runs through everything. LVHI distributes in US dollars, but holdings pay in pounds, euros, and Canadian dollars. With the Canadian dollar trading near 73 cents, a stronger US dollar would compress reported yields even if underlying payouts grow in local terms.
Energy Holdings Driving the Payout Shell (NYSE:SHEL | SHEL Price Prediction) raised its Q1 2026 dividend to $0.3906 per share after adjusted earnings more than doubled to $6.92 billion versus Q4. Free cash flow of $2.93 billion covers the dividend, but net debt climbed to $52.6 billion and the pending $13.6 billion ARC Resources deal may force Shell to pause the newly announced $3 billion buyback. The base dividend looks safe, while buyback flexibility is the variable that may flex.
Canadian Natural Resources (NYSE:CNQ) is the cleanest income story. Management lifted the quarterly payout 6% to C$0.625, extending a 26-year streak of annual increases with a 20% historical CAGR. Q1 free cash flow fell sharply to $875 million, but adjusted earnings of $2.45 billion were flat year-over-year and oil sands operating costs of US$17 per barrel are the lowest in the industry. CEO Scott Stauth’s capital allocation policy, with 60% of free cash flow going to buybacks at current debt levels, means the base dividend is the last line item to be cut.
Suncor Energy (NYSE:SU) hiked its dividend 5% to $0.60 per share alongside record upstream production of 909,000 barrels per day. Free cash flow fell 51% year-over-year to $1.7 billion, which is the watch item, but WTI trading near $110 and in the 98th percentile of its 12-month range gives Suncor room to fund the higher payout while executing a $3.3 billion buyback this year.
The Variable Payer Rio Tinto (NYSE:RIO) is the holding LVHI investors should understand differently. Rio targets a 40%-60% payout ratio and sits at the top of that range for the tenth straight year, meaning the dividend tracks earnings directly. FY2025 underlying earnings of $10.9 billion funded a $4.02 full-year payout, but the H2 2025 final dropped to $1.48 from $1.77 the year prior. Net debt tripled to $14.4 billion after the $7.6 billion Arcadium lithium deal, and a 50% US aluminium tariff plus the Mongolian tax dispute at Oyu Tolgoi are real overhangs. The dividend will be paid, but the size will float with commodity prices.
Total Return and the Verdict The income case for LVHI rests on high dividends paired with capital appreciation: a 111% five-year price return alongside ongoing distributions, and a 11% year-to-date gain that shows the “low volatility” label is earning its keep. Three of the four energy and mining anchors carry clearly sustainable base dividends backed by genuine free cash flow. Rio is the asterisk: holders should expect the distribution to vary 15% to 25% in either direction based on commodity prices. For a developed-markets income sleeve, that is an honest tradeoff. Investors who need a level monthly check should pair LVHI with a bond fund; those who want international yield with built-in volatility dampening are getting exactly what the index promises.
