Canada's Suncor Q4 net earnings rise, projects C$3.3 bln in share repurchases for 2026

Suncor Energy (Canada)

03/02/2026 22:26

Overview

Canada energy firm's Q4 net earnings rose, driven by record quarterly upstream production and refining throughput

Adjusted operating earnings for Q4 decreased due to lower upstream price realizations net of decreased royalties

Company returned C$1.5 bln to shareholders via dividends and share repurchases

Suncor increases quarterly dividend by 5% to C$0.60 per share

Outlook

Suncor projects C$3.3 bln in share repurchases for 2026

No changes to 2026 corporate guidance ranges previously released on December 11, 2025.

Result Drivers

RECORD PRODUCTION - Suncor achieved record upstream production of 909,000 bbls/d, driven by strong mining performance and high upgrader reliability

HIGH REFINERY UTILIZATION - Record refining throughput of 504,000 bbls/d with refineries operating at 108% utilization, attributed to strong operating performance

INCREASED SALES VOLUMES - Refined product sales rose to a record 640,400 bbls/d, supported by higher refinery production and retail growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EPS
C$1.23
Q4 Net earnings
C$1.48 bln
Q4 Adjusted FFO Per Share
C$2.68
Q4 Adjusted Operating Earnings
C$1.33 bln
Q4 Net Debt
C$6.34 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"

Wall Street's median 12-month price target for Suncor Energy Inc (Canada) is C$70.00, about 2.8% below its February 2 closing price of C$71.98

The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release: ID:nNFC5CTzgx

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)