Welcome to our dedicated page for Suncor Energy news (Ticker: SU), a resource for investors and traders seeking the latest updates and insights on Suncor Energy stock.
Suncor Energy Inc. (symbol: SU) is a premier Canadian integrated energy company headquartered in Calgary, Alberta. Suncor is best known for its strong position in the Canadian oil sands, where it engages in extensive development, production, and upgrading activities. Beyond its core oil sands operations, Suncor has diverse business interests including offshore oil production, North American natural gas production, and petroleum refining in both Canada and the U.S. The company’s extensive Petro-Canada™ retail and wholesale distribution network includes Canada's Electric Highway™, a coast-to-coast network of fast-charging electric vehicle stations.
Suncor is a leader in the energy sector, consistently investing in innovative technologies to enhance efficiency and sustainability. The company is actively advancing its transition to a low-emissions future through significant investments in power and renewable fuels. Suncor also conducts energy trading activities primarily focused on the marketing and trading of crude oil, natural gas, byproducts, refined products, and power.
Suncor’s operations are organized into three main segments: Oil Sands, Exploration and Production, and Refining and Marketing. These segments allow the company to have a broad and balanced portfolio, ensuring robust performance across various market conditions. Financially, Suncor continues to perform strongly, with recent achievements including record-high quarterly oil sands production and exceptional downstream performance with refining utilization at 98%.
The company is committed to safety, operational reliability, and the well-being of the communities where it operates. It has a long-standing partnership with Indigenous communities and recently signed a Memorandum of Understanding with Fort McKay First Nation on a significant oil sands lease development opportunity. Suncor also announced a renewed Normal Course Issuer Bid to purchase up to 128.7 million common shares, reflecting confidence in its long-term strategy and shareholder value.
As of the latest updates, Suncor's fourth quarter and annual results for 2023 highlighted strong performance and strategic growth initiatives. The company’s President and CEO, Rich Kruger, emphasized the focus on safety, reliability, and profitability, setting a robust foundation for continued success in 2024. Suncor's shares are listed on the Toronto Stock Exchange and the New York Stock Exchange, providing ample opportunities for investors to participate in its growth.
For more detailed information and the latest news, visit Suncor's official website.
Suncor Energy (TSX: SU) (NYSE: SU) reported strong Q4 2024 results with several operational records. The company generated $3.5 billion in adjusted funds from operations and $1.9 billion in free funds flow. Notable achievements include record upstream production of 875,000 barrels per day, near-record refining throughput of 486,200 bbls/d, and record refined product sales of 613,300 bbls/d.
The company returned $1.7 billion to shareholders through $1 billion in share repurchases and $700 million in dividends. For the full year 2024, Suncor achieved $13.8 billion in adjusted funds from operations and returned $5.7 billion to shareholders. The company increased its quarterly dividend by 5% to $0.57 per share and reduced debt by $1.1 billion.
Q4 net earnings were $818 million ($0.65 per share), compared to $2.82 billion ($2.18 per share) in Q4 2023. The company has shifted to 100% return of excess funds to shareholders via share repurchases after achieving its $8 billion net debt target.
Suncor Energy (TSX: SU) (NYSE: SU) has announced its quarterly dividend payment of $0.57 per share on common shares. The dividend will be payable on March 25, 2025, to shareholders of record as of March 4, 2025.
As Canada's leading integrated energy company, Suncor operates across various sectors including oil sands development, offshore oil production, petroleum refining in Canada and the U.S., and the Petro-Canada retail network. The company is actively working on transitioning to a lower-emissions future through investments in renewable energy and emissions reduction projects while maintaining its core energy trading activities.
Suncor Energy (TSX: SU) (NYSE: SU) has announced it will release its fourth quarter 2024 financial results on February 5, 2025, before 5:00 p.m. MT. The company will host a webcast on February 6, 2025, at 7:30 a.m. MT to review the results.
The webcast will feature President and CEO Rich Kruger and CFO Kris Smith, with a Q&A session with analysts following management's remarks. Troy Little, Senior Vice President of External Affairs, will host the call.
Suncor, Canada's leading integrated energy company, operates in oil sands development, offshore oil production, petroleum refining, and retail distribution through Petro-Canada. The company is actively working on transitioning to lower emissions through investments in renewable projects while maintaining its core energy trading activities.
Suncor Energy (TSX: SU) (NYSE: SU) reported record operational results for Q4 and full-year 2024. The company achieved record quarterly upstream production of 874,000 bbls/d, up 66,000 bbls/d from Q4 2023, and record annual production of 827,000 bbls/d, exceeding guidance by 17,000 bbls/d.
Downstream operations also excelled with record quarterly refining throughput of 487,000 bbls/d and record annual throughput of 465,000 bbls/d, surpassing guidance by 20,000 bbls/d. Notable achievements include record annual upgrader utilization of 98% and refining utilization of 100%. The company reached its $8 billion net debt target nine months ahead of schedule from its May 2024 three-year plan.
Suncor Energy (TSX: SU) (NYSE: SU) has released its 2025 corporate guidance, projecting upstream production of 810,000 to 840,000 bbls/d and refining utilization of 93% to 97%. The guidance includes major investments in the Upgrader 1 coke drums replacement at Base Plant, Mildred Lake West Mine Extension, West White Rose projects, and Petro-Canada retail network improvements.
The company's 2025 capital program ranges from C$6.1-6.3 billion, with 45% allocated to economic investments. Key operational metrics include Oil Sands operations cash operating costs of C$26-29/bbl, Fort Hills costs of C$33-36/bbl, and Syncrude costs of C$34-37/bbl. The guidance assumes WTI crude price at US$75/bbl and an exchange rate of US$0.74/C$.
Suncor Energy (TSX: SU) (NYSE: SU) has issued an update regarding the impact of the Canadian Union of Postal Workers national strike on the distribution of their quarterly documents. In compliance with Alberta Securities Commission's Blanket Order 51-516, Suncor will resume mailing documents once postal service returns to normal. In the meantime, shareholders can access these documents digitally through suncor.com/FinancialReports, SEDAR+, or EDGAR. Shareholders who previously requested paper copies can arrange alternate delivery through Computershare.
Suncor Energy reported strong Q3 2024 results with $3.8 billion in adjusted funds from operations and $2.2 billion in free funds flow. The company achieved record-breaking performance with highest-ever refining throughput of 488,000 bbls/d and 105% utilization. Upstream production reached 829,000 bbls/d with 99% upgrader utilization. Suncor returned $1.5 billion to shareholders through $800 million in share repurchases and $700 million in dividends. The company hit its $8.0 billion net debt target and increased quarterly dividend by 5% to $0.57 per share.
Suncor Energy (TSX: SU) (NYSE: SU) has announced a quarterly dividend increase of approximately 5% to $0.57 per common share. The dividend will be paid on December 24, 2024 to shareholders of record as of December 3, 2024. CEO Rich Kruger attributed this increase to sustained operational improvements, enhanced free funds flow, and successful share buybacks. The company highlighted its commitment to increasing shareholder returns through this dividend boost, supported by improving operating performance and a stronger financial position.
Suncor Energy (TSX: SU) (NYSE: SU) has announced the release date for its third quarter 2024 financial results. The results will be published on November 12, 2024 before 5:00 p.m. MT (7:00 p.m. ET). A webcast to review the results will be held on November 13, 2024 at 7:30 a.m. MT (9:30 a.m. ET).
The webcast will feature Rich Kruger, President and CEO, and Kris Smith, CFO, with Troy Little, Senior VP of External Affairs, hosting the call. Analysts can register to participate in the Q&A session. Suncor Energy, Canada's leading integrated energy company, operates in oil sands development, offshore oil production, petroleum refining, and retail distribution through Petro-Canada.
Suncor Energy announced the pricing of its tender offers to purchase up to C$1 billion of its 6.50% and 6.80% Notes due 2038 (Pool 1 Notes), and up to C$100 million of its other notes (Pool 2 Notes). The tender offers aim to retire long-term debt and strengthen the balance sheet. The early tender date was October 2, 2024, and the early settlement date is October 7, 2024. The tender offers will expire on October 18, 2024. Suncor will use cash on hand to fund the purchases. The company expects to accept all validly tendered Pool 1 Notes and some Pool 2 Notes on a prorated basis. The total consideration includes accrued and unpaid interest. Notes accepted will be retired and canceled.
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