Suncor Energy's Q1 Earnings Slip, Achieves Record Production

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Suncor Energy Inc. ( SU ) reported first quarter 2013 net earnings of $1.094 billion, or $0.72 per common share, compared with net earnings of $1.446 billion, or $0.93 per common share, for the first quarter of 2012. Analysts expected earnings per share of $0.74. The company achieved record quarterly production of 357,800 barrels per day and a 9% decrease in cash operating costs per barrel in Oil Sands operations.

The company also increased its quarterly dividend to $0.20 per common share, from the previous level of $0.13 per common share and allowed for the repurchase of up to an additional $2 billion of common shares.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: SU

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