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Suncor Energy (SU) Reports Q2 Earnings: What Key Metrics Have to Say
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Suncor Energy (SU - Free Report) reported $8.72 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 31.3%. EPS of $0.71 for the same period compares to $2.12 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $7.89 billion, representing a surprise of +10.53%. The company delivered an EPS surprise of +20.34%, with the consensus EPS estimate being $0.59.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Suncor Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production volumes per day - Total Oil Sands production: 679.1 MBBL/D compared to the 675.73 MBBL/D average estimate based on six analysts.
Sales Volumes per day - Total Oil Sands operations: 675.1 MBBL/D compared to the 675.73 MBBL/D average estimate based on six analysts.
Total Production volumes per day: 814.3 MBOE/D versus 732.03 MBOE/D estimated by four analysts on average.
Sales Volumes per day - Oil Sands operations - Upgraded (SCO and Diesel): 511.5 MBBL/D versus the three-analyst average estimate of 480.47 MBBL/D.
Sales Volumes per day - Oil Sands operations - non-upgraded bitumen: 163.6 MBBL/D versus the three-analyst average estimate of 195.25 MBBL/D.
Production Volumes per day - Total Fort Hills bitumen production: 110.2 MBBL/D versus the three-analyst average estimate of 105.18 MBBL/D.
Production Volumes per day - Total Syncrude production: 171.5 MBBL/D compared to the 165.69 MBBL/D average estimate based on three analysts.
Production volumes per day - E&P Canada: 45.9 MBBL/D versus the three-analyst average estimate of 42.13 MBBL/D.
Production volumes per day - E&P International: 16.9 MBOE/D compared to the 17.4 MBOE/D average estimate based on three analysts.
Production Volumes per day - Oil Sands operations - non-upgraded bitumen: 174.1 MBBL/D versus the three-analyst average estimate of 195.25 MBBL/D.
Production volumes per day - Exploration and Production: 62.8 MBOE/D compared to the 59.63 MBOE/D average estimate based on three analysts.
Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel): 505 MBBL/D versus 480.47 MBBL/D estimated by three analysts on average.
Shares of Suncor Energy have returned +9.9% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Suncor Energy (SU) Reports Q2 Earnings: What Key Metrics Have to Say
Suncor Energy (SU - Free Report) reported $8.72 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 31.3%. EPS of $0.71 for the same period compares to $2.12 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $7.89 billion, representing a surprise of +10.53%. The company delivered an EPS surprise of +20.34%, with the consensus EPS estimate being $0.59.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Suncor Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Production volumes per day - Total Oil Sands production: 679.1 MBBL/D compared to the 675.73 MBBL/D average estimate based on six analysts.
- Sales Volumes per day - Total Oil Sands operations: 675.1 MBBL/D compared to the 675.73 MBBL/D average estimate based on six analysts.
- Total Production volumes per day: 814.3 MBOE/D versus 732.03 MBOE/D estimated by four analysts on average.
- Sales Volumes per day - Oil Sands operations - Upgraded (SCO and Diesel): 511.5 MBBL/D versus the three-analyst average estimate of 480.47 MBBL/D.
- Sales Volumes per day - Oil Sands operations - non-upgraded bitumen: 163.6 MBBL/D versus the three-analyst average estimate of 195.25 MBBL/D.
- Production Volumes per day - Total Fort Hills bitumen production: 110.2 MBBL/D versus the three-analyst average estimate of 105.18 MBBL/D.
- Production Volumes per day - Total Syncrude production: 171.5 MBBL/D compared to the 165.69 MBBL/D average estimate based on three analysts.
- Production volumes per day - E&P Canada: 45.9 MBBL/D versus the three-analyst average estimate of 42.13 MBBL/D.
- Production volumes per day - E&P International: 16.9 MBOE/D compared to the 17.4 MBOE/D average estimate based on three analysts.
- Production Volumes per day - Oil Sands operations - non-upgraded bitumen: 174.1 MBBL/D versus the three-analyst average estimate of 195.25 MBBL/D.
- Production volumes per day - Exploration and Production: 62.8 MBOE/D compared to the 59.63 MBOE/D average estimate based on three analysts.
- Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel): 505 MBBL/D versus 480.47 MBBL/D estimated by three analysts on average.
View all Key Company Metrics for Suncor Energy here>>>Shares of Suncor Energy have returned +9.9% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.