Suncor Energy Reports Higher 1Q Profit on Increased Oil Production

Dow Jones05-06 05:33

By Elias Schisgall

Suncor Energy reported a higher profit as oil production and refining rose during the first quarter.

The Canadian oilsands producer on Tuesday reported a profit of 2.1 billion Canadian dollars (US$1.54 billion), or C$1.77 a share. That compares with a profit of C$1.69 billion, or C$1.36 a share, a year earlier.

Stripping out certain one-time items, the company reported adjusted earnings of C$1.93 a share. Analysts polled by FactSet were expecting C$1.74 a share. Adjusted funds from operations were C$3.39 a share.

The company produced 875,000 barrels a day during the quarter, 22,000 barrels more than a year earlier. Refining throughput rose by 15,000 barrels a day to 498,000 barrels daily.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

May 05, 2026 17:33 ET (21:33 GMT)

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