May 25, 2018 - 7:20 AM EDT
Print Email Article Font Down Font Up Charts

Free Post Earnings Research Report: Suncor's Operating Earnings Surged 22%

Stock Monitor: Barnwell Industries Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 25, 2018 / If you want access to our free earnings report on Suncor Energy Inc. (NYSE: SU) (''Suncor''), all you need to do is sign up now by clicking the following link Suncor reported its first quarter fiscal 2018 operating and financial results on May 01, 2018. The energy Company beat earnings estimates. (Unless otherwise noted, all financial figures are presented in Canadian dollars.) Register today and get access to over 1,000 Free Research Reports by joining our site below: is currently working on the research report for Barnwell Industries, Inc. (NYSE American: BRN), which also belongs to the Basic Materials sector as the Company Suncor Energy. Do not miss out and become a member today for free to access this upcoming report at: is focused on giving you timely information and the inside line on companies that matter to you. This morning, Suncor Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

Earnings Highlights and Summary

For the three months ended March 31, 2018, Suncor's operating revenues, net of royalties, totaled $8.75 billion compared to $7.81 billion in Q1 2017.

For Q1 2018, Suncor's net earnings were $789 million, or $0.48 per common share, compared to $1.35 billion, or $0.81 per common share, in Q1 2017. The Company's net earnings for the reported quarter included a $329 million unrealized after-tax foreign exchange loss on the revaluation of US dollar denominated debt and a non-cash after-tax gain associated with the exchange of the Company's mineral landholdings in northeast British Columbia with Canbriam Energy Inc. of $133 million.

Suncor recorded Q1 2018 operating earnings of $985 million, or $0.60 per common share, compared to $812 million, or $0.49 per common share, in Q1 2017. The y-o-y increase was a result of improved crude oil pricing and increased refining margins, refinery utilization of 98%, and strong In Situ production. The Company's earnings surpassed Wall Street's estimates of $0.52 per share.

Suncor's funds from operations (FFO) were $2.16 billion, or $1.32 per common share, compared to $2.02 billion, or $1.21 per common share, in Q1 2017.

Operating Results

Suncor's total upstream production was 689,400 Barrels of oil equivalent per day (boe/d) in Q1 2018 compared to 725,100 boe/d in Q1 2017. The Company's Oil Sands operations production was 404,800 barrels per day (bbls/d) in the reported quarter compared to 448,500 bbls/d in the prior year's same quarter, and upgrader utilization in Q1 2018 declined to 80%, compared to 95% in Q1 2017. The decrease in production and upgrader utilization was a result of lower production from Oil Sands Base due to a weather-related outage.

For Q1 2018, Suncor's Oil Sands operations cash operating costs per barrel increased to $26.85 in Q1 2018 from $22.55 in Q1 2017, primarily due to weather-related outage which led to lower production and an increase in unplanned maintenance costs.

Suncor's share of Syncrude production was 142,300 bbls/d in Q1 2018 compared to 142,100 bbls/d in Q1 2017. The reported quarter was impacted by constrained capacity on a bitumen feed line and an upgrader turnaround originally scheduled for Q2 2018.

Syncrude cash operating costs per barrel were $50.75 in Q1 2018, reflecting an increase from $45.15 in the prior year's same quarter, due to higher operating costs associated with advanced planned upgrader maintenance, unplanned maintenance to address the line constraint and an increase in preventive maintenance to improve long-term reliability.

Suncor's production volumes in Exploration and Production (E&P) were 117,700 boe/d in Q1 2018 compared to 134,500 boe/d in Q1 2017. The decrease was primarily due to natural declines in the United Kingdom and East Coast Canada, partially offset by the accelerated ramp up of production at Hebron, which averaged 8,200 bbls/d in the reported quarter.

Suncor's refinery crude throughput in R&M was 453,500 bbls/d in Q1 2018, which is the highest ever for a first quarter, compared to 429,900 bbls/d in the prior year's same quarter. The increase was due to strong reliability at all the Company's refineries. Average refinery utilization was 98% in Q1 2018 compared to 93% in Q1 2017.

Cash Matters

Cash flow provided by operating activities, which includes changes in non‑cash working capital, was $724 million for Q1 2018, compared to $1.63 billion for Q1 2017. In the reported quarter, total capital and exploration expenditures were $1.21 billion (excluding capitalized interest) compared to $1.21 billion in the prior year's same period, with increased sustaining capital expenditures offsetting the decrease in growth capital associated with the commissioning of the Company's major growth projects, Fort Hills and Hebron.

Stock Performance Snapshot

May 24, 2018 - At Thursday's closing bell, Suncor Energy's stock slightly declined 0.59%, ending the trading session at $40.43.

Volume traded for the day: 2.81 million shares.

Stock performance in the last month - up 5.56%; previous three-month period - up 17.39%; past twelve-month period - up 26.98%; and year-to-date - up 10.10%

After yesterday's close, Suncor Energy's market cap was at $66.81 billion.

Price to Earnings (P/E) ratio was at 22.01.

The stock has a dividend yield of 2.77%.

The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry.


Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.


The non-sponsored content contained herein has been prepared by a writer (the ''Author'') and is fact checked and reviewed by a third-party research service company (the ''Reviewer'') represented by a credentialed financial analyst. For further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charterholder (the ''Sponsor''), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.


A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit


For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: [email protected]

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors

Source: ACCESSWIRE Investor Awareness (May 25, 2018 - 7:20 AM EDT)

News by QuoteMedia

Legal Notice