Suncor Energy Q3 Profit Rises - Quick Facts

(RTTNews) - Suncor Energy Inc. (SU, SU.TO) reported third quarter operating earnings of C$1.426 billion or C$0.95 per common share, up from C$1.292 billion or C$0.84 per common share in the prior year.

Strong operating earnings included a record for the Oil Sands segment which was driven by record production, strong reliability and favourable pricing for western Canadian crude oil, the company stated.

On average, fourteen analysts polled by Thomson Reuters expected the company to report earnings of C$0.87 per share for the quarter. Analysts' estimates typically exclude special items.

Net earnings were C$1.694 billion or C$1.13 per common share, compared with C$1.544 billion or C$1.01 per common share last year, and were impacted by the same factors that affected operating earnings. Cash flow from operations was C$2.528 billion or C$1.69 per common share, compared to C$2.743 billion or C$1.79 per common share in the previous year.

Suncor's total upstream production rose to an average of 595,000 boe/d in the third quarter from 535,300 boe/d in the previous year.

Production volumes for Oil Sands operations increased 16% to a record quarterly average of 396,400 bbls/d in the third quarter, compared to 341,300 bbls/d in the year-ago quarter.

Suncor continued to deliver value to shareholders through C$299 million in dividends or C$0.20 per common share and share repurchases of C$426 million in the third quarter of 2013.