Suncor Power Inc has declared a quarterly dividend of CAD 0.6 ($0.4) per share, elevated about 5 p.c from the prior three-month interval on the again of improved operational efficiency.
The Canadian oil sands-focused producer and refiner achieved its highest quarterly volumes in bitumen manufacturing at 958,300 barrels per day (bpd), refinery throughput at 491,700 bpd and refined product gross sales at 646,800 bpd within the July-September 2025 interval.
“The board’s confidence in our improved operational efficiency and stable monetary basis underpins its determination to boost the quarterly dividend, reflecting our ongoing dedication to creating worth for shareholders”, Suncor stated in a press release on its web site.
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Suncor reported CAD 1.79 billion in third-quarter web revenue adjusted for nonrecurring objects, up from CAD 873 million for the prior three months however down from CAD 1.88 billion for a similar interval final 12 months.
Its adjusted earnings per share of CAD 1.34 ($1) beat the Zacks Consensus Estimate of $0.85.
Web earnings was CAD 1.62 billion. That was up from CAD 1.13 billion for Q2 however down from CAD 2.02 billion for Q3 2024 as upstream worth realizations dropped.
Money circulation from working actions was CAD 3.79 billion, up from CAD 2.92 billion for Q2 however down from CAD 4.26 billion for Q3 2024. After adjustment for adjustments in non-cash working capital, the determine turns into CAD 3.83 billion, up each quarter-on-quarter and year-on-year.
Upstream output averaged 870,000 bpd, up from 808,100 bpd in Q2 and 828,600 in Q3 2024. Suncor stated the Q3 2025 determine is its highest third-quarter upstream manufacturing.
The rise in oil sands bitumen manufacturing was pushed by document quarterly manufacturing at Fort Hills and document third-quarter manufacturing at Firebag.
Suncor’s web artificial crude manufacturing additionally set a third-quarter document at 544,100 bpd, having benefited from “glorious upgrader reliability and improved planning and execution of upkeep actions, together with the early completion of the Upgrader 1 coke drum alternative venture”, the corporate stated.
“The mix of the brand new coke drums and reliability enhancements have enabled Suncor to increase the Upgrader 1 turnaround interval from 5 to 6 years, with decreased upkeep required between turnarounds”, Suncor stated.
“At Fort Hills, main separation cell outages are being prolonged from six-month intervals to annual intervals. Within the downstream, upkeep interval extensions are anticipated on the refineries on account of current upkeep actions and technique.
“These adjustments translate into decrease prices, increased utilization charges and extra manufacturing between turnarounds”.
Non-oil sands manufacturing accounted for 57,800 bpd, down from 59,700 bpd in Q2 however up from 52,600 in Q3 2024; the year-over-year enhance was on account of the next contribution from the Hebron discipline and the Q1 restart of the White Rose discipline, each off Canada’s East Coast.
Upstream gross sales averaged 887,200 bpd, up each sequentially and by prior-year comparability.
Refined product gross sales elevated “on account of increased refinery manufacturing, funding in retail development and by leveraging strategic partnerships, the corporate’s in depth home gross sales community and export channels”, Suncor stated.
It stated in Q3 it had paid over CAD 1.4 billion to shareholders, consisting of CAD 750 million in share repurchases and CAD 700 million in dividends.
Money and money equivalents stood at CAD 2.94 billion on the finish of Q3, whereas the present portion of long-term debt was CAD 1.48 billion.
Suncor bumped up its full-year steering. It now expects to supply 845,000-855,000 bpd from upstream belongings and promote 610,000-620,000 bpd of refined merchandise.
To contact the writer, e mail jov.onsat@rigzone.com
