SU Stock Recent News

Suncor Energy (SU) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Calgary, Alberta--(Newsfile Corp. - October 3, 2024) - Suncor Energy Inc. (TSX: SU) (NYSE: SU) ("Suncor") announced today the early tender results for its tender offers to purchase for cash certain of its outstanding series of notes (the "Tender Offers"). Suncor also announced that it has increased the previously announced Pool 1 Maximum Amount (as defined below) from C$700,000,000 aggregate purchase price, excluding accrued and unpaid interest, to C$1,000,000,000 aggregate principal amount and the Pool 2 Maximum Amount (as defined below) from C$100,000,000 aggregate purchase price, excluding accrued and unpaid interest, to C$100,000,000 aggregate principal amount.

SU pleads guilty to safety breach after a 2019 incident on Terra Nova vessel, resulting in fines and a mandated review of its safety protocols.

Calgary, Alberta--(Newsfile Corp. - September 19, 2024) - Suncor Energy Inc. (TSX: SU) (NYSE: SU) ("Suncor") announced today the commencement of tender offers to purchase for cash certain of its outstanding series of notes listed in the table below (collectively, the "Notes") for an aggregate purchase price, excluding accrued and unpaid interest, of up to C$800 million (collectively, the "Tender Offers"). Title of Security (1) CUSIP/ISIN Principal Amount Outstanding Maximum Amount (2) Acceptance Priority Level (3) Par Call Date (4) Maturity Date Reference Security Bloomberg Reference Page Fixed Spread (5)(6) Pool 1 Tender Offers 6.50% Notes due 2038 867229AE6 / US867229AE68 US$954,042,000 C$700,000,000 1 N/A June 15, 2038 3.875% UST due August 15, 2034 FIT1 135 6.80% Notes due 2038(7) 71644EAJ1 / US71644EAJ10 US$881,081,000 2 N/A May 15, 2038 3.875% UST due August 15, 2034 FIT1 140 Pool 2 Tender Offers 3.10% Series 6 Medium Term Notes due 2029 86721ZAP4 / CA86721ZAP41 C$78,743,000 C$10

Despite current oil price pressure, Suncor's integrated business model and cost efficiencies position it well for long-term success and substantial returns. Suncor is aggressively returning capital to shareholders through dividends and buybacks, supported by robust free cash flow and debt reduction. The company trades at an attractive valuation, offering a deep-value opportunity with significant upside potential as oil prices stabilize.

Suncor Energy (SU) anticipates production in the range of 770,000-810,000 boe/d and capital expenditures in the band of C$6.3-C$6.5 billion for 2024.

Suncor Energy's cost-cutting plan aims to lower breakeven costs by US$10, driven by operational efficiencies and strategic investments. Suncor is projecting a 24% compound annual growth rate in free cash flow per share from 2024 to 2026, driven by operational improvements and cost savings. The second quarter of 2024 showcased strong operational execution, with record upstream production and impressive turnaround efficiency.

Suncor Energy shares have risen 28% in the past year, driven by strong capital returns and low-cost oil sands operations, as well as efficiency gains. Suncor reported solid Q2 earnings, beating expectations and benefiting from increased commodity prices and strong cost controls. Suncor's integrated business model, strong balance sheet, and increased buybacks make it an attractive investment with potential for share price growth.

Canada's Suncor Energy could exceed its 2024 guidance on oil production and refinery throughput, the company said on Wednesday after reporting better-than-expected second quarter profits.

Suncor Energy (SU) came out with quarterly earnings of $0.93 per share, beating the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $0.71 per share a year ago.