Suncor EnergyNYSE: SU

SU expects its total capital expenditures for 2024 to be between C$6.30 billion and C$6.50 billion.

Suncor Energy showcases operational efficiency, impressive cost controls, and strong shareholder returns, making it a standout in the energy sector with significant upside potential. The company boasts record-breaking refining throughput, a 26-year reserve profile, and mostly zero decline rates, providing stability and growth potential. Suncor's strategy of combining dividend growth with substantial buybacks enhances per-share value while maintaining financial flexibility.

Suncor Energy's much better-than-expected third-quarter results cement the revival of Canada's second-largest oil producer, two years after its previous CEO resigned following a string of worker fatalities and operational mishaps.

Suncor Energy Inc. (NYSE:SU ) Q3 2024 Earnings Conference Call November 13, 2024 9:30 AM ET Company Participants Troy Little – Senior Vice President, External Affairs Rich Kruger – President and Chief Executive Officer Kris Smith – Chief Financial Officer Shelley Powell – Senior Vice President, Operational Improvement and Support Services Dave Oldreive – Executive Vice President, Downstream Peter Zebedee – Executive Vice President, Oil Sands Conference Call Participants Dennis Fong – CIBC Greg Pardy – RBC Neil Mehta – Goldman Sachs Menno Hulshof – TD Securities Manav Gupta – UBS Roger Read – Wells Fargo Securities Doug Leggate – Bank of America Operator Good day, and welcome to the Suncor Energy Third Quarter 2024 Financial Results Call. At this time all participants are in a listen-only mode.

Suncor Energy (SU) came out with quarterly earnings of $1.08 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $1.13 per share a year ago.

Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and derived from the company's condensed consolidated financial statements which are based on Canadian generally accepted accounting principles (GAAP), specifically International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), and are prepared in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. Production volumes are presented on a working-interest basis, before royalties, except for production values from the company's Libya operations, which are presented on an economic basis.

All financial figures are in Canadian dollars. Calgary, Alberta--(Newsfile Corp. - November 12, 2024) - Suncor Energy's (TSX: SU) (NYSE: SU) Board of Directors has approved a quarterly dividend of $0.57 per common share, representing an approximate increase of 5% over the prior quarterly dividend.

Suncor Energy (SU) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Elliot Investment almost doubles its holding in SU, reflecting optimism in the company's strategic turnaround.