Referenced Stocks

Suncor Operating Earnings Lift Off As it Ramps Up Production Volumes

By Midnight Trader,  July 25, 2012, 07:03:29 AM EDT

Suncor Energy Inc. ( SU ) recorded stronger operating earnings of $1.258 billion ($0.81 per common share), compared to $980 million ($0.62 per common share) in the second quarter of 2011. The increase in operating earnings compared to the second quarter of 2011 was due primarily to increased production volumes in its upstream businesses, combined with increased refinery margins and throughputs in the downstream, partially offset by lower upstream price realizations.

Net earnings were $333 million ($0.21 per common share) during the quarter, compared to net earnings of $562 million ($0.36 per common share) in the previous year.

Cash flow from operations was $2.344 billion ($1.51 per common share) in the quarter, compared to $1.982 billion ($1.26 per common share) last year.

SU shares lost 2% yesterday, reaching $29.16.




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.


This article appears in: Investing, Commodities

Referenced Stocks: SU



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