Financial Data and Key Metrics Changes - In Q4 2025, Suncor achieved upstream production of 909,000 barrels per day, marking the best quarter in the company's history, which is 34,000 barrels per day higher than the previous best in Q4 2024 [4][5] - Full-year upstream production reached 860,000 barrels per day, exceeding the previous best by 32,000 barrels per day and 20,000 barrels per day above the high end of original guidance [5] - The company reported refining throughput of 504,000 barrels per day in Q4 2025, also the best quarter ever, and a full-year throughput of 480,000 barrels per day, which is 15,000 barrels per day higher than the previous best [6][7] - Capital expenditures for the full year were CAD 5.66 billion, down CAD 510 million from 2024 and CAD 540 million below original guidance, indicating improved cost management [9][12] - Net debt decreased to CAD 6.3 billion, the lowest level in over a decade, demonstrating strong financial resilience [16][12] Business Line Data and Key Metrics Changes - Upstream production growth over the last two years totaled 114,000 barrels per day, achieved without costly acquisitions or major capital projects, indicating effective internal growth strategies [5][12] - Refining utilization reached 108% for the quarter and 103% for the full year, both record levels, with all four refineries operating at 100% or higher for two consecutive quarters [6][7] - Product sales in Q4 were 640,000 barrels per day, the best fourth quarter ever, and full-year sales reached 623,000 barrels per day, exceeding previous highs by 23,000 barrels per day [7][8] Market Data and Key Metrics Changes - The company noted a year-on-year decrease in WTI prices by 15%, with adjusted funds from operations (AFFO) down 8% and free funds flow down 6% [13] - Despite lower oil prices, Suncor maintained a stable dividend and increased share buybacks, demonstrating resilience in a fluctuating market [14][18] Company Strategy and Development Direction - Suncor's strategy focuses on continuous improvement, operational excellence, and maintaining a low-cost production model, which has transformed it from a high-cost to a low-cost producer [13][12] - The company plans to detail a new value improvement plan on March 31, focusing on both short-term (next 3 years) and long-term (next 15 years) strategies, particularly in bitumen supply and development options [15][12] - Suncor aims to return 100% of excess funds to shareholders through buybacks after achieving net debt targets, emphasizing shareholder value [12][14] Management's Comments on Operating Environment and Future Outlook - Management highlighted that 2025 was the safest year in the company's history, with a 70% reduction in injuries and incidents compared to 2022, reflecting a strong safety culture [4] - The management expressed confidence in achieving operational targets ahead of schedule, with significant improvements in production and financial metrics [12][13] - The company remains optimistic about its ability to navigate market fluctuations and maintain profitability, leveraging its integrated business model [11][79] Other Important Information - Suncor has repurchased 163 million shares over the past three years, representing more than 12% of its float, at an average price of CAD 50 per share [14] - The company has implemented a rigorous capital stewardship approach, including detailed readiness reviews before spending and comprehensive post-execution evaluations [9][12] Q&A Session Summary Question: Changes in company culture and succession planning - Management emphasized the importance of leadership development and succession planning, focusing on functional excellence and a continuous pipeline of leadership candidates [25][26] Question: Performance of mining operations - Management noted improvements in mining operations due to better maintenance of haul roads and the implementation of technology to enhance performance in varying weather conditions [28][29] Question: Backlog of field-driven optimization opportunities - Management indicated a proactive approach to optimization, continuously identifying and addressing opportunities rather than maintaining a backlog [36][38] Question: Refining market sustainability - Management discussed the advantages of the Canadian refining market, including product pricing based on import parity and locally advantaged crude prices, contributing to sustained profitability [56][58] Question: Buyback guidance and conditions for reconsideration - Management reiterated the commitment to share buybacks, emphasizing the importance of a strong balance sheet and reduced breakeven costs as enablers of this strategy [50][51] Question: Impact of weather on production - Management stated that despite adverse weather conditions, production levels were maintained, showcasing the company's operational resilience [53] Question: Refining macro outlook for 2026 - Management expressed confidence in the refining market, highlighting strong diesel margins and the company's ability to adapt to market conditions [85][87]

Financial Data and Key Metrics Changes - The company reported net income of $18.6 million or $0.69 per diluted share, with adjusted net income of $19.7 million or $0.73 per diluted share after excluding one-time costs [8][10] - Return on Assets (ROA) was 1.01% and Return on Equity (ROE) was 12.89%, indicating disciplined execution [8] - Net interest income increased by 2.5% to $61.3 million, and net interest margin expanded by 5 basis points to 3.49% [8][9] Business Line Data and Key Metrics Changes - Loans increased by $77 million, while deposits grew by $33 million, bringing total deposits to $6.6 billion [6][7] - The Hawaii loan portfolio saw growth in commercial, commercial mortgage, and construction loans, offset by declines in residential mortgage and home equity [6][19] - Average yields on total loans increased by 5 basis points to 5.01% compared to the prior quarter [6] Market Data and Key Metrics Changes - The company anticipates full-year loan growth in the low single-digit percentage range for 2025, with a healthy loan pipeline [6][7] - Deposit growth is expected to remain flat year-over-year in the fourth quarter due to known outflows, but optimism for low single-digit growth in 2026 remains [25][26] Company Strategy and Development Direction - The company focuses on optimizing bottom-line returns while maintaining high liquidity and prudent capital levels [5] - A strategic partnership with Kyoto Shinkin Bank was announced to enhance growth prospects for small and mid-sized customers [4] - The company aims to enhance products, build a strong team, strengthen the balance sheet, and grow the business prudently [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of Hawaii's economy despite softness in tourism due to U.S. trade policies [3] - The company is cautiously optimistic about future loan growth, particularly in Hawaii, as interest rates are expected to moderate [19][44] - Management emphasized a commitment to disciplined growth and long-term value creation for shareholders [7][12] Other Important Information - The board increased the fourth-quarter dividend by 3.7% to $0.28 per share, payable on December 15 [11] - The company plans to redeem $55 million of subordinated debt at par on November 1 [11][12] - Total risk-based capital was reported at 15.7%, with a target Common Equity Tier 1 (CET1) ratio of 11% to 12% [14][12] Q&A Session Summary Question: What drove the declines in loans in Hawaii and future growth confidence? - Management noted that declines were primarily in residential mortgage and home equity due to the interest rate environment, but there is a healthy loan pipeline and optimism for future growth [19] Question: Insights on expense management and investments? - Management highlighted ongoing investments in technology and people to drive efficiency and support strategic execution [22][24] Question: Competitive landscape for deposits and ability to reduce costs? - Management expressed cautious optimism for deposit growth, anticipating challenges in the fourth quarter but expecting low single-digit growth in 2026 [25][26] Question: Margin guidance and interest-bearing deposit costs? - Management confirmed that the spot rate on total deposits was 100 basis points, with expectations for net interest margin expansion [29] Question: Update on mainland loan growth and SNIC exposure? - Growth was noted in industrial and multifamily sectors, with total SNIC exposure around $526 million [32][34] Question: Capital management and potential for capital return? - Management indicated a proactive approach to capital return while prioritizing loan growth and share repurchases based on market conditions [42][44] Question: Opportunities with the new Japanese bank partner? - Management expressed excitement about the partnership with Kyoto Shinkin Bank, aiming to facilitate economic opportunities between Hawaii and the Kyoto region [46]

Core Viewpoint - Earth Science Tech, Inc. has achieved significant growth and operational optimization in the fiscal year ending March 31, 2025, with a focus on value creation through strategic acquisitions and management of its subsidiaries [1][2]. Financial Performance - The company is projected to achieve a net income of $3.6 million, representing a 340% increase year-over-year [3]. - Projected revenue for the fiscal year is expected to surpass $32 million, indicating a 175% increase compared to the previous year [3]. - Earnings per share (EPS) are projected to be $0.01, reflecting strong profitability across the company's operations [3]. Financial Position - Total assets are projected to increase to $7.2 million, marking an 85% growth from the prior fiscal year [4]. - This growth is attributed to both the intrinsic expansion of subsidiaries and strategic capital deployment [4]. Strategic Progress - The fiscal year was characterized by a focus on optimizing operational frameworks to support sustainable growth [5]. - Enhanced governance and cross-subsidiary synergies have been established to drive long-term value [5]. Highlights of FY Ending March 31, 2025 - The Board of Directors expanded to 7 members, including 2 independent members [6]. - The company has qualified for listing on the new OTCID market starting July 2025 [6]. - Employee count increased to 76, up from 42 a year ago, indicating growth in operational capacity [6]. - The company repurchased a total of 20,834,214 common shares under its repurchase program, costing $1,830,617.71 [6]. - Subsidiaries like RxCompoundStore and Peaks Curative have shown significant revenue growth and expansion in product offerings [6]. Future Outlook - The company aims to identify promising ventures and strengthen operational foundations while pursuing innovation for measurable value [7]. - A healthy balance sheet and proven management provide confidence as the company enters the new fiscal year [7].