Suncor reports highest-ever Q1 production and refinery throughput
CALGARY — Oilsands giant Suncor Energy Inc. says said it had its strongest-ever first-quarter performance in its production, refining and refined product sales segments.
It says production was 853,000 barrels of oil per day, refining throughput was 483,000 per day and refined product sales were 605,000 barrels per day.
Net earnings for the first three months of 2025 were $1.69 billion, up from $1.61 billion during the same 2024 period.
That amounted to $1.36 per share versus $1.25 per share.
Gross revenues were $13.33 billion, compared to $13.31 billion a year earlier.
Adjusted operating earnings, a measure Suncor says provides a better comparison between quarters, were $1.63 billion, down from $1.82 billion, which it says was due to lower crude oil sales.
"Our strong first quarter financial and operating performance maintained the momentum established in 2024, as we remain laser-focused on continuing to deliver safe, reliable, and cost-effective operations," CEO Rich Kruger said in a news release Tuesday.
"Our focus on the fundamentals, integrated business model, and continually improving cost structure enable us to deliver free funds flow and shareholder value despite the current volatile business environment."
This report by The Canadian Press was first published May 6, 2025.
Companies in this story: (TSX: SU)
Lauren Krugel, The Canadian Press
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