Suncor Shares Rise After 4Q Earnings Beat Expectations

Dow Jones02-05

By Robb M. Stewart

Suncor's shares advanced Wednesday after the Canadian oilsands producer's earnings for the latest quarter beat expectations, buoyed by record output and refining throughput.

The shares climbed as much as 3.6% on the Toronto Stock Exchange, and before midday were 1.5% higher at C$73.95. That widened the gain over the last three months to 33%.

Net earnings came in at 1.48 billion Canadian dollars (US$1.08 billion), or C$1.23 a share, for the fourth quarter of last year. That was up from C$818 million, or C$0.65 a share, in the same period the year before.

Adjusted operating earnings, a measure the company says better reflects its underlying performance by stripping out one-time items, declined to C$1.33 billion, or C$1.10 a share, but beat the C$1.04 a share mean estimate of analysts polled by FactSet.

Funds from operations on an adjusted basis came in at C$2.68 a share, topping the C$2.60 consensus forecast.

Revenue and other income totaled C$12.3 billion, 1.7% below the C$12.5 billion recorded a year earlier.

"Suncor's record fourth quarter contributed to another record-breaking year, which also saw the company achieve its 2024 investor day targets a full year early," President and Chief Executive Rich Kruger said.

The Calgary, Alberta, energy company in 2024 laid out three-year targets that included lifting free funds flow by C$3.3 billion a year, as well as increasing upstream production 100,000 barrels a day and reducing annual capital expenditures to C$5.7 billion.

Suncor generated C$12.8 billion in adjusted funds from operations and C$6.9 billion in free funds flow in 2025.

It produced 909,000 barrels daily in last three months of the year, 34,000 a day higher than in the prior-year quarter, while refining throughput was up 18,000 barrels a day to 504,000.

The company said it aims to buy back C$3.3 billion of its shares in the new year. It expects that 100% of excess funds will be returned to shareholders, which it said was highlighted by a 10% increase in stock buybacks to C$275 million a month as of last December.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

February 04, 2026 12:17 ET (17:17 GMT)

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Suncor Shares Rise After 4Q Earnings Beat Expectations

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