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Suncor Energy to Report Q1 Earnings: What's in Store for the Stock?
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Key Takeaways
SU to post Q1 results on May 5; EPS seen at $1.45, up 59% YoY, with revenues at $8.94B.
Suncor benefits from high crude prices, weak CAD and steady upstream production growth.
SU faces margin pressure from rising costs, maintenance issues and seasonal refining swings.
Suncor Energy Inc. (SU - Free Report) is set to report first-quarter 2026 earnings on May 5, after the closing bell. The Zacks Consensus Estimate for earnings is pegged at $1.45 per share and the same for revenues is pinned at $8.94 billion.
Let us delve into the factors that might have influenced SU’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.
Highlights of SU’s Q4 Earnings & Surprise History
In the fourth quarter, this Alberta-based integrated oil and gas company’s earnings beat the consensus mark. SU reported adjusted operating earnings of 79 cents per share, which beat the Zacks Consensus Estimate of 77 cents. This was primarily due to strong production growth in its upstream segment. The company’s operating revenues of $8.8 billion beat the Zacks Consensus Estimate by 4%. SU’s earnings beat the consensus estimate in each of the trailing four quarters, delivering an average surprise of 9.07%.
The Zacks Consensus Estimate for first-quarter 2026 earnings has remained unchanged in the past seven days. The estimated figure indicates a 59.34% year-over-year bottom-line increase. Moreover, the Zacks Consensus Estimate for revenues indicates an increase of 3.10% from the year-ago period’s level.
Factors to Consider Ahead of SU’s Q1 Release
Suncor Energy generally makes money primarily by producing, refining, and selling oil and petroleum products. The company extracts crude oil from Canada’s oil sands, upgrades it to higher-value products like gasoline, diesel and jet fuel in refineries and sells these products through retail networks (like Petro-Canada) and wholesale markets. Additionally, the company earns revenues from trading oil, investing in renewable energy projects and selling byproducts like asphalt, lubricants and petrochemicals. Essentially, the company turns raw energy resources into products people and businesses need, capturing value at multiple stages.
On the positive side, SU’s revenues are likely to have improved in the quarter to be reported. The Zacks Consensus Estimate for first-quarter revenues is expected to increase from the year-ago quarter’s $8.67 billion. SU is expected to have benefited from the high crude price environment in first-quarter 2026, as elevated oil prices are expected to have increased revenue per barrel sold. The Canadian dollar has remained weak against the U.S. dollar, so USD-denominated sales are likely to have converted to higher Canadian dollar revenues, supporting stronger earnings.
Production levels are expected to have remained steady, providing consistent output, while refining margins are likely to have been boosted by seasonal demand for heating fuels, further enhancing profitability. We also expect a 1.8% increase in total upstream production per day in the first quarter of 2026 compared with the same quarter last year.
Despite these favorable conditions, certain headwinds are likely to have tempered Suncor’s earnings. Operational disruptions or unplanned maintenance are expected to have reduced production volumes at times. Rising input costs, including labor, energy and maintenance, are likely to have pressured profit margins. Seasonal fluctuations in refining demand losses are also expected to have created some uncertainty in the company’s first-quarter performance.
What Does Our Model Predict for SU?
The proven Zacks model does not conclusively predict an earnings beat for Suncor Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. However, that is not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP of SU: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company, is 0.00%.
SU’s Zacks Rank: SU currently carries a Zacks Rank #1.
Stocks to Consider
Here are some firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this season.
Notably, the Zacks Consensus Estimate for APA’s 2026 earnings per share indicates 27.06% year-over-year growth. Valued at around $13.66 billion, APA’s shares have risen 159.4% in a year.
Magnolia Oil & Gas Corp (MGY - Free Report) has an Earnings ESP of +5.38% and a Zacks Rank #1. The firm is scheduled to release earnings on May 6.
Notably, the Zacks Consensus Estimate for MGY’s 2026 earnings per share indicates 46.93% year-over-year growth. Valued at around $5.47 billion, MGY’s shares have risen 47.3% in a year.
Permian Resources Corporation (PR - Free Report) has an Earnings ESP of +4.73% and a Zacks Rank #1. The firm is scheduled to release earnings on May 6.
Notably, the Zacks Consensus Estimate for PR’s 2026 earnings per share indicates 34.27% year-over-year growth. Valued at around $17.49 billion, PR’s shares have risen 83.4% in a year.
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Suncor Energy to Report Q1 Earnings: What's in Store for the Stock?
Key Takeaways
Suncor Energy Inc. (SU - Free Report) is set to report first-quarter 2026 earnings on May 5, after the closing bell. The Zacks Consensus Estimate for earnings is pegged at $1.45 per share and the same for revenues is pinned at $8.94 billion.
Let us delve into the factors that might have influenced SU’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.
Highlights of SU’s Q4 Earnings & Surprise History
In the fourth quarter, this Alberta-based integrated oil and gas company’s earnings beat the consensus mark. SU reported adjusted operating earnings of 79 cents per share, which beat the Zacks Consensus Estimate of 77 cents. This was primarily due to strong production growth in its upstream segment. The company’s operating revenues of $8.8 billion beat the Zacks Consensus Estimate by 4%. SU’s earnings beat the consensus estimate in each of the trailing four quarters, delivering an average surprise of 9.07%.
This is depicted in the graph below:
Suncor Energy Inc. Price and EPS Surprise
Suncor Energy Inc. price-eps-surprise | Suncor Energy Inc. Quote
Trend in SU’s Estimate Revision
The Zacks Consensus Estimate for first-quarter 2026 earnings has remained unchanged in the past seven days. The estimated figure indicates a 59.34% year-over-year bottom-line increase. Moreover, the Zacks Consensus Estimate for revenues indicates an increase of 3.10% from the year-ago period’s level.
Factors to Consider Ahead of SU’s Q1 Release
Suncor Energy generally makes money primarily by producing, refining, and selling oil and petroleum products. The company extracts crude oil from Canada’s oil sands, upgrades it to higher-value products like gasoline, diesel and jet fuel in refineries and sells these products through retail networks (like Petro-Canada) and wholesale markets. Additionally, the company earns revenues from trading oil, investing in renewable energy projects and selling byproducts like asphalt, lubricants and petrochemicals. Essentially, the company turns raw energy resources into products people and businesses need, capturing value at multiple stages.
On the positive side, SU’s revenues are likely to have improved in the quarter to be reported. The Zacks Consensus Estimate for first-quarter revenues is expected to increase from the year-ago quarter’s $8.67 billion. SU is expected to have benefited from the high crude price environment in first-quarter 2026, as elevated oil prices are expected to have increased revenue per barrel sold. The Canadian dollar has remained weak against the U.S. dollar, so USD-denominated sales are likely to have converted to higher Canadian dollar revenues, supporting stronger earnings.
Production levels are expected to have remained steady, providing consistent output, while refining margins are likely to have been boosted by seasonal demand for heating fuels, further enhancing profitability. We also expect a 1.8% increase in total upstream production per day in the first quarter of 2026 compared with the same quarter last year.
Despite these favorable conditions, certain headwinds are likely to have tempered Suncor’s earnings. Operational disruptions or unplanned maintenance are expected to have reduced production volumes at times. Rising input costs, including labor, energy and maintenance, are likely to have pressured profit margins. Seasonal fluctuations in refining demand losses are also expected to have created some uncertainty in the company’s first-quarter performance.
What Does Our Model Predict for SU?
The proven Zacks model does not conclusively predict an earnings beat for Suncor Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. However, that is not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP of SU: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company, is 0.00%.
SU’s Zacks Rank: SU currently carries a Zacks Rank #1.
Stocks to Consider
Here are some firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this season.
APA (APA - Free Report) is scheduled to release earnings on May 6. The firm has an Earnings ESP of +5.15% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Notably, the Zacks Consensus Estimate for APA’s 2026 earnings per share indicates 27.06% year-over-year growth. Valued at around $13.66 billion, APA’s shares have risen 159.4% in a year.
Magnolia Oil & Gas Corp (MGY - Free Report) has an Earnings ESP of +5.38% and a Zacks Rank #1. The firm is scheduled to release earnings on May 6.
Notably, the Zacks Consensus Estimate for MGY’s 2026 earnings per share indicates 46.93% year-over-year growth. Valued at around $5.47 billion, MGY’s shares have risen 47.3% in a year.
Permian Resources Corporation (PR - Free Report) has an Earnings ESP of +4.73% and a Zacks Rank #1. The firm is scheduled to release earnings on May 6.
Notably, the Zacks Consensus Estimate for PR’s 2026 earnings per share indicates 34.27% year-over-year growth. Valued at around $17.49 billion, PR’s shares have risen 83.4% in a year.