Suncor's earnings point to recovery in Canada's energy sector [Wealth Professional (Canada)]
Suncor Energy Inc. (SU)
Last suncor energy inc. earnings: 2/5 07:15 pm
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Source: Wealth Professional
Suncor Energy Inc.'s latest earnings report indicates a promising shift in Canada's energy sector, according to David Szybunka, portfolio manager and managing director of the Canoe Energy Team. BNN Bloomberg reported that Suncor's shares rose by five percent on Wednesday following a strong premarket announcement that surpassed expectations. The company not only hit its $8bn debt target ahead of schedule but also announced a dividend increase, contributing to its 27 percent stock gain year-to-date. Szybunka sees room for continued growth based on Suncor's current financial performance “They hit their $8bn debt target sooner than the street was anticipating, now they're handing back 100 per cent of free cash flow to shareholders… all of this overall is just a really good print,” Szybunka said, emphasizing the positive impact of Suncor's financial strides. Szybunka observed an improvement in investor sentiment across the oil sector, even as news of an emissions cap for oil and
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SU
Earnings
- 11/12/24 - Beat
SU
Sec Filings
- 11/13/24 - Form 6-K
- 11/13/24 - Form 6-K
- 11/13/24 - Form 6-K
- SU's page on the SEC website