A month has gone by since the last earnings report for Suncor Energy (SU) . Shares have lost about 3.3% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Suncor Energy due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Suncor Energy Q1 Earnings & Revenues Beat Sunco ...

Suncor Energy Inc. (SU) is facing a significant legal challenge as environmental groups filed a notice to sue the company under the U.S. Clean Air Act. The lawsuit, initiated by Earthjustice, a non-profit environmental law organization, accused Suncor of more than 1,000 air pollution violations at its Commerce City, CO, refinery. This legal action aims to hold Suncor accountable for its repeated offenses and seek civil penalties to prevent future violations. Suncor, based in Calgary, Canada, had been under ...

Canadian energy major Suncor Energy (SU) has unveiled a comprehensive business update, underscoring its commitment to shareholder value through accelerated stock buybacks and strategic debt reduction. This move has bolstered investor confidence, reflected in a notable surge in the company's share price. The transformation, driven in part by activist investor Elliott Investment Management, signals a new chapter for Suncor as it aims to enhance efficiency and production. Share Buyback Boost & Debt Reduction I ...

Driving operating leverage Impact: $175M/yr cost savings SUNCOR ENERGY 7 Annual mobile maintenance spend | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-----------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | Business Update | | | | | | 1 Winning proposition Driving improvement – Upstream – Downstream – Corporate Maximizing returns Closing comments Agenda 2 3 4 Rich Kruger Chief Executive Officer 40+ years experience SUNC ...

Suncor Energy, Inc. (NYSE:SU) 2024 Business Update Call May 21, 2024 9:30 AM ET Company Participants Troy Little - VP, IR Rich Kruger - President, CEO & Director Peter Zebedee - EVP, Oil Sands Dave Oldreive - EVP, Downstream Kris Smith - CFO Shelley Powell - SVP, Operational Improvement & Support Services Conference Call Participants Dennis Fong - CIBC Capital Markets Greg Pardy - RBC Capital Markets Neil Mehta - Goldman Sachs Roger Read - Wells Fargo Securities Menno Hulshof - TD Cowen John Royall - JPMorg ...

Financial Data and Key Metrics Changes - The company aims for an additional free funds flow improvement of $3.3 billion per year by the end of 2026, which will reduce the WTI breakeven by $10 per barrel [7][14] - A revised net debt target for 100% free funds payout has been increased to $8 billion, reflecting confidence in the plan and financial resiliency [7][38] - The company expects to deliver more than $40 billion of adjusted funds from operations from 2024 to 2026 in a $75 WTI business environment [36][45] Business Line Data and Key Metrics Changes - Upstream operations are expected to increase production by over 100,000 barrels a day while holding controllable costs flat, reducing operating costs per barrel by 8% over the next three years [17][24] - Downstream operations are projected to contribute to 25% of the $10 per barrel improvement, focusing on cost reduction and increasing refining throughput [26][28] - The retail business is on track to deliver $200 million in margin growth by 2026, with plans to enhance the Petro-Canada retail network [32][33] Market Data and Key Metrics Changes - The company has achieved record volumes in both upstream and downstream operations, moving to the head of the class in reliability [12][15] - The transition to autonomous mining is expected to deliver $175 million per year in cost savings, with plans for full autonomy at the base plant by year-end [22][23] Company Strategy and Development Direction - The company’s strategy focuses on creating value through an integrated upstream and downstream asset base, leveraging large-scale, long-life Oil Sands resources [8][9] - The management emphasizes a commitment to operational excellence, cost reduction, and maximizing the value of existing assets [16][26] - The company plans to increase share buybacks to 75% of free funds starting in the second quarter, with a goal of reaching 100% once net debt is near $8 billion [7][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a $10 per barrel reduction in breakeven costs, with approximately $3 per barrel already achieved [14][15] - The leadership team highlighted the importance of operational improvements and cost efficiencies to navigate inflation and other headwinds [51][62] - The company is focused on maintaining a strong balance sheet while delivering substantial returns to shareholders through dividends and buybacks [38][45] Other Important Information - The company has made significant reductions in above-field costs, resulting in about $450 million in cost reductions [35] - The transition to autonomous operations is a key lever for delivering safer, more reliable, and cost-effective operations [22][23] Q&A Session Summary Question: How do cost improvements offset headwinds from increased haul distance and inflation? - Management clarified that the improvement plans account for headwinds, ensuring net improvements are presented [50][51] Question: What is the production capacity at Firebag, considering recent improvements? - Management indicated that Firebag has significant resource potential, with ongoing efforts to optimize production through debottlenecking [53][56] Question: What is the plan for Fort Hills to achieve optimal performance? - Management outlined a focus on transitioning mining operations and improving efficiency through the deployment of ultra-class haul trucks [71]

All financial numbers in this article are in Canadian dollars unless noted otherwise. Oil and gas prices are always in US$. Introduction XtockImages Essentially, there are two reasons why Canada's role in the global energy sector is essential: Canada has a lot of reserves. In fact, as reported by the aforementioned Reuters article, it holds the world's third-largest bitumen reserves. This means producers do not need to be afraid to run out of high-quality reserves anytime soon. Most major Canadian producers ...

Company Participants Greg Pardy - RBC Capital Markets Roger Read - Wells Fargo Securities Manav Gupta - UBS Menno Hulshof - TD Cowen Patrick O'Rourke - ATB Capital Markets Dennis Fong - CIBC Capital Markets John Royall - JPMorgan Chase & Co. I would now like to hand the conference over to your speaker, Mr. Troy Little, Vice President of Investor Relations. You may begin, sir. Certain financial measures referred to in these comments are not prescribed by Canadian Generally Accepted Accounting Principles. For ...

Investor Information Disciplined investment and cost management 2 Upgrading capacity 556 mbpd FFF Q4 YTD $7.5B Strong balance sheet and industry leading cash returns1 AFFO SUNCOR ENERGY Long-life, competitively advantaged assets Deliver superior long-term shareholder value Net debt to AFFO Q4 2023 TTM 1.0x AFFO Q4 YTD $13.3B 1 See Slide Notes and Advisories $15 $0 (C$ billion) Strong balance sheet Investment grade credit rating SUNCOR ENERGY Disciplined capital allocation1 Calculating % available for share ...

Suncor Energy Inc. (NYSE:SU) Q4 2023 Earnings Conference Call February 22, 2024 9:30 AM ET Company Participants Troy Little - Vice President, Investor Relations Rich Kruger - President and Chief Executive Officer Kris Smith - Chief Financial Officer Peter Zebedee - Executive Vice President, Oil Sands Dave Oldreive - Executive Vice President, Downstream Shelley Powell - Senior Vice President, Operational Improvement & Support Services Conference Call Participants Greg Pardy - RBC Capital Markets Dennis Fong ...