Suncor Energy

Suncor Energy, Inc. (SU - Snapshot Report), a Zacks Rank #1 (Strong Buy), is scheduled to release results for the second quarter this Thursday, July 24, 2008. The company's first quarter demonstrated solid year-over-year earnings growth, and the second quarter is projected to post significant growth as well.

Company Description

Suncor extracts and upgrades oil sands into high-quality refinery-ready crude oil products and diesel fuel. The company also explores for, develops and produces natural gas. Suncor’s downstream operations market the company’s refined products to industrial, commercial and retail customers. Additionally, the company works to responsibly develop hydrocarbon resources, Suncor is also investing in clean, renewable energy sources.

Delivered Solid Growth and Projected to do the Same Again

The company's first quarter earnings per share of 76 cents, after a two for one share split, demonstrated solid year-over-year earnings growth. The second quarter is projected to post significant growth as well in comparison to last year’s second quarter.

Forecasts of 74 cents per share for the second quarter are above the two months ago expectations of 71 cents. Full-year estimates of $3.77 per share top last month’s projections of 3.71. The most accurate expectations, of 81 cents for the next quarter and $4.07 for the year, are much more bullish.

Report Date is Near

Suncor Energy is scheduled to release results for the second quarter this Thursday, July 24, 2008.

Income

The company declared a quarterly dividend of 10 cents per common share in late April. The dividend was paid out on June 25, 2008. Suncor is yielding 0.4%.