Canada's Suncor Q4 net earnings rise, projects C$3.3 bln in share repurchases for 2026

Overview

• Canada energy firm's Q4 net earnings rose, driven by record quarterly upstream production and refining throughput

• Adjusted operating earnings for Q4 decreased due to lower upstream price realizations net of decreased royalties

• Company returned C$1.5 bln to shareholders via dividends and share repurchases

• Suncor increases quarterly dividend by 5% to C$0.60 per share

Outlook

• Suncor projects C$3.3 bln in share repurchases for 2026

• No changes to 2026 corporate guidance ranges previously released on December 11, 2025.

Result Drivers

• RECORD PRODUCTION - Suncor achieved record upstream production of 909,000 bbls/d, driven by strong mining performance and high upgrader reliability

• HIGH REFINERY UTILIZATION - Record refining throughput of 504,000 bbls/d with refineries operating at 108% utilization, attributed to strong operating performance

• INCREASED SALES VOLUMES - Refined product sales rose to a record 640,400 bbls/d, supported by higher refinery production and retail growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"

• Wall Street's median 12-month price target for Suncor Energy Inc (Canada) is C$70.00, about 2.8% below its February 2 closing price of C$71.98

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release: ID:nNFC5CTzgx

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