BTEGF - Suncor reports Q4 results - posts a nice quarter

Suncor (NYSE:SU) reported Q4 results after the close, posting the Company's best "funds from operation" per share result ever. With shares trading ~25% below all time highs, this result should be enough to keep prices moving higher:  Adjusted operating earnings of 89c compared favorably to SA consensus of 75c, though Wall Street reduced expectations by lowering estimates 14% in the weeks preceding earnings. Having been bumped 100% last quarter, the dividend remains unchanged this quarter, while the 5% share buyback was renewed. With both trains at Fort Hills back online, the Company is planning to operate the asset at 90% utilization in 2022, Buzzard Phase 2 adds 12kb/d later in the year. Net debt fell to $16.1b, returning to pre-pandemic levels, though the company continues to target a $12-$15b balance, before diverting additional cash flow to growth projects or shareholder returns. Management tweaked operating assumptions, and now sees WTI averaging $80/b

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Suncor reports Q4 results - posts a nice quarter