Suncor(SU) Newsfile·2025-02-05 22:00Core Insights - Suncor Energy Inc. reported strong performance in Q4 2024, achieving record production levels and operational efficiency, setting the stage for continued success in 2025 [3][6][7] Financial Highlights - Net earnings for Q4 2024 were Cdn$818 million, down from Cdn$2.820 billion in Q4 2023 [5][12] - Adjusted operating earnings were Cdn$1.566 billion, compared to Cdn$1.635 billion in the prior year [12] - Adjusted funds from operations totaled Cdn$3.493 billion, down from Cdn$4.034 billion year-over-year [12][13] - Free funds flow reached Cdn$1.923 billion in Q4 2024 [8] Operational Performance - Record upstream production of 875,000 barrels per day (bbls/d) in Q4 2024, compared to 808,100 bbls/d in Q4 2023 [6][17] - Refinery utilization was at 104%, with throughput of 486,200 bbls/d, up from 455,900 bbls/d in the prior year [17] - Refined product sales reached a record 613,300 bbls/d, exceeding the previous record of 575,500 bbls/d [17] Shareholder Returns - Suncor returned Cdn$1.7 billion to shareholders in Q4 2024, including Cdn$1 billion in share repurchases and Cdn$700 million in dividends [6][24] - The quarterly dividend was increased by approximately 5% to Cdn$0.57 per share [24] Debt and Financial Position - Net debt decreased to Cdn$6.861 billion from Cdn$9.852 billion year-over-year [36] - Total debt was reported at Cdn$10.345 billion, down from Cdn$11.581 billion [36] Corporate Strategy - The company has committed to returning 100% of excess funds to shareholders following the achievement of its Cdn$8 billion net debt target [24][21] - Suncor is focused on maintaining high performance and operational reliability to achieve free cash flow targets and enhance shareholder value [3][6]