Suncor(US:SU) Newsfileยท2025-05-06 21:05Core Insights - Suncor Energy reported strong first quarter financial and operational performance, maintaining momentum from 2024, with a focus on safe, reliable, and cost-effective operations [3][5] - The company achieved record upstream production and refining throughput, demonstrating effective asset utilization [5][11] Financial Highlights - Net earnings for Q1 2025 were Cdn$1.689 billion, or Cdn$1.36 per common share, compared to Cdn$1.610 billion, or Cdn$1.25 per common share in Q1 2024 [4][8] - Adjusted operating earnings were Cdn$1.629 billion, or Cdn$1.31 per common share, down from Cdn$1.817 billion, or Cdn$1.41 per common share in the prior year [8][10] - Adjusted funds from operations totaled Cdn$3.045 billion, or Cdn$2.46 per common share, compared to Cdn$3.169 billion, or Cdn$2.46 per common share in Q1 2024 [8][10] - Free funds flow was Cdn$1.9 billion, reflecting strong cash generation capabilities [5][18] Operational Highlights - Total upstream production reached 853,200 barrels per day (bbls/d), with Oil Sands bitumen production at 937,300 bbls/d, marking the highest first quarter in company history [5][11] - Refinery utilization was at 104%, with refining throughput of 482,700 bbls/d, also a record for the first quarter [5][11] - Refined product sales reached 604,900 bbls/d, the highest for a first quarter [5][11] Shareholder Returns - The company returned Cdn$1.5 billion to shareholders, including Cdn$750 million in share repurchases and Cdn$705 million in dividends [5][10] - Dividend per common share remained stable at Cdn$0.57 [4][10] Corporate Updates - Production at White Rose resumed in Q1 2025, with expectations to return to normal levels in Q2 2025 [12] - There were no changes to the 2025 corporate guidance previously issued [13]