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Suncor Energy Inc
XMUN:SM3

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Suncor Energy Inc
XMUN:SM3
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Price: 59.69 EUR -1.08% Market Closed
Market Cap: €76.7B

Suncor Energy Inc
Investor Relations

Suncor Energy is a Canadian energy company that makes, processes, and sells oil-based fuel and related products. Its core business starts with oil sands production in Alberta, where it extracts bitumen and turns it into crude oil. It also owns refineries that convert that crude into gasoline, diesel, jet fuel, and other petroleum products for everyday use. The company sells to a mix of customers, including wholesale fuel buyers, industrial and commercial users, and drivers who buy fuel at its branded retail stations. It also earns money from logistics and marketing activities that move product through pipelines, terminals, and supply chains. This gives Suncor a role across several steps of the energy chain rather than only at the wellhead. What makes Suncor different is that it is integrated from production to refining to retail. That structure can help it capture value at more than one stage of the business and gives it more control over where its crude goes and how it is sold. For investors, it is best understood as a large North American fuel supplier whose fortunes are tied to oil prices, refining demand, and the steady need for transportation fuels.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
May 6, 2026
AI Summary
Q1 2026

Results: Suncor said first quarter performance kept the momentum from 2025, with record or near-record operating results across upstream, refining, and sales.

Cash Flow: Adjusted funds from operations were $4 billion, up $1 billion, and free funds flow was $2.9 billion, up $1 billion year-over-year.

Returns: The company returned $1.5 billion to shareholders in the quarter and lifted buybacks to $350 million per month on April 1.

Operations: Upstream production hit 875,000 barrels a day, refinery throughput reached 498,000 barrels a day, and product sales rose to 681,000 barrels a day, all first-quarter records.

Downstream Edge: Management emphasized unusually strong downstream margin capture of 99%, helped by export sales, logistics flexibility, and trading strength.

Outlook: Executives said the Investor Day plan remains on track, including more upstream growth, lower breakeven, and higher free funds flow over the next three years.

Questions: Analysts focused on downstream sales growth, Fort Hills unit costs, Firebag turnaround execution, marketing repeatability, and how Suncor thinks about shareholder returns and commodity volatility.

Key Financials
Upstream production
875,000 barrels a day
Fort Hills production
187,000 barrels a day
E&P production
76,000 barrels a day
Firebag production
247,000 barrels a day
Upgrader utilization
96%
Refining throughput
498,000 barrels a day
Refining utilization
107%
Product sales
681,000 barrels a day
Petro-Canada retail volumes
up 9% year-over-year
Adjusted funds from operations
$4 billion
Free funds flow
$2.9 billion
Capital returned to shareholders
$1.5 billion
Buybacks
$825 million
Dividends
$712 million
Working capital build
$1.7 billion
Net debt change
up $500 million versus Q4 2025
Net debt to cash flow guardrail
1x at $50 WTI
Fort Hills North Pit 2 first ore
first quarter of 2027
Firebag sidetrack wells planned
20
2024 Investor Day upstream production growth delivered
114,000 barrels a day
2024 Investor Day refining capacity increase
10%
Corporate breakeven reduction delivered
$10 a barrel
Incremental annual free funds flow delivered
more than $3.3 billion per year
New 3-year upstream production growth target
100,000 barrels a day
Additional enterprise breakeven reduction target
$5 a barrel
Additional free funds flow target
$2 billion a year
2P reserves
7 billion barrels
Reserve life
25-year reserve life
Contingent resources
30 billion barrels
High-quality in situ resource base
11 billion barrels
Average capital cost
about $30,000 per flowing barrel
Cash flow per barrel advantage
roughly 2x mining's current level
Buyback increase date
April 1
March WTI move
50% higher than January
Earnings Call Recording
Other Earnings Calls

Management

Mr. Richard M. Kruger
President, CEO & Director

Richard M. Kruger is a well-regarded executive in the energy sector, known for his robust leadership and operational expertise. He was appointed as the President and CEO of Suncor Energy Inc., one of Canada's largest integrated energy companies, effective April 3, 2023. Before joining Suncor, Kruger held several key positions in the industry. He is best known for his tenure at Imperial Oil, where he served as Chairman, President, and CEO from 2013 to 2019. At Imperial Oil, he was instrumental in leading strategic initiatives and fostering operational improvements. His career also includes extensive experience with ExxonMobil, where he held various senior roles, amassing over three decades of experience in multiple facets of the global energy industry. Kruger is recognized for his deep understanding of the oil and gas sector, particularly in operations, safety, and sustainability. His leadership style emphasizes performance-driven management, stakeholder engagement, and strategic planning to ensure the long-term success and stability of the organizations he leads. His return to the helm at Suncor marks a significant chapter in the company's ongoing efforts to enhance its competitive position in the market.

Ms. Shelley Powell
Senior VP of Operational Improvement & Support Services

Shelley Powell is a notable executive in the energy industry, holding a prominent position at Suncor Energy Inc., which is one of Canada's leading integrated energy companies. With a career spanning over two decades in the energy sector, she has accumulated extensive experience in operations and leadership roles. At Suncor, Powell has been instrumental in advancing strategic initiatives that align with the company’s goals of sustainable energy production and environmental stewardship. She has a background in chemical engineering, which has supported her in various technical and managerial roles within the company. Known for her ability to drive operational excellence and safety, Powell has consistently been a key player in Suncor's efforts to enhance efficiency and innovation across its operations. Beyond her technical expertise, she is recognized for her leadership style, which emphasizes collaboration, diversity, and inclusion within the workforce. Throughout her tenure at Suncor, Powell has championed several initiatives aimed at improving workplace culture and fostering an environment that supports employee development and engagement. Her contributions to Suncor and the broader energy industry underscore her status as a respected leader who is committed to advancing both her company's strategic objectives and the industry's evolution towards more sustainable practices.

Mr. Peter D. Zebedee
Executive Vice President of Oil Sands

Peter D. Zebedee is a prominent executive known for his significant contributions to the energy sector, particularly through his work with Suncor Energy Inc., a leading Canadian integrated energy company. With a strong background in engineering and operations management, Zebedee's career has been marked by leadership roles across various facets of the oil and gas industry. Prior to his role at Suncor, Zebedee garnered extensive experience at Shell, where he honed his skills in project management and operations. His expertise encompasses strategic planning, operational excellence, and safety management, which have been pivotal in overseeing large-scale operations and driving efficiency improvements. At Suncor, Zebedee has been instrumental in overseeing operational activities and strategic initiatives as an executive officer. His leadership is characterized by a focus on innovation, sustainability, and technology integration, reflecting his commitment to advancing the company's competitive edge and environmental stewardship in the energy sector. With a strong educational background in engineering, Zebedee is recognized for his pragmatic approach to industry challenges, ensuring the alignment of operational strategies with Suncor’s broader corporate objectives. He continues to play a key role in steering Suncor Energy towards a sustainable and profitable future amidst an evolving global energy landscape.

Mr. David Oldreive
Executive Vice President of Downstream
No Bio Available
Troy Little
Vice President of IR

Troy Little is not an executive officer at Suncor Energy Inc. Information specific to an individual by that name in a prominent executive role at Suncor Energy is not available. If you require information about a different individual or another aspect of Suncor Energy, please provide further details.

Ms. Jacqueline S. Moore
General Counsel & Corporate Secretary
No Bio Available
Mr. Kent Ferguson
Senior Vice President of Strategy, Sustainability & Corporate Development
No Bio Available
Mr. Arnel Lamco Santos
Senior Vice President of Refining & Logistics
No Bio Available

Contacts

Address
ALBERTA
Calgary
150 - 6th Avenue S.W., P.O.Box 2844
Contacts
+14032968000.0
www.suncor.com
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