Suncor Energy Inc (LTS:0QY9)

CHF 0.0 (0%) Market Cap: 60.39 Bil Enterprise Value: 60.39 Bil PE Ratio: 10.48 PB Ratio: 1.38 GF Score: 89/100

Q4 2024 Suncor Energy Inc Earnings Call Transcript

Feb 06, 2025 / 02:30PM GMT

Transcript

Key Points

Positve

Suncor Energy Inc (SU) achieved its safest year ever in 2024, with a significant reduction in lost time injuries and recordable incidents.
Upstream production reached a record high of 828,000 barrels per day, surpassing previous records and exceeding guidance.
Refining throughput and utilization were at their highest levels ever, with all major assets operating above 100% utilization in Q4 2024.
The company achieved a $7 per barrel reduction in its corporate breakeven, exceeding its target for 2024.
Suncor Energy Inc (SU) returned $5.7 billion in cash to shareholders through dividends and share buybacks, reflecting strong financial performance and commitment to shareholder returns.

Negative

Crude oil prices weakened during Q4 2024, impacting overall revenue potential.
Refining margins decreased due to weaker gasoline cracks, affecting downstream profitability.
Natural gas prices increased, which could impact operational costs for Suncor Energy Inc (SU).
The company faces a heavy planned maintenance year in 2025, which could affect production and financial performance.
There is uncertainty regarding the impact of potential tariffs on Suncor Energy Inc (SU)'s operations and market access.

Operator

Good day, and thank you for standing by. Welcome to the Suncor Energy fourth-quarter 2024 financial results call. (Operator Instructions)

Please, be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Suncor Energy's Senior Vice President of External Affairs, Mr. Troy Little. Please go ahead.

Troy Little

Suncor Energy Inc - Senior Vice President - External Affairs

Thank you, operator, and good morning. Welcome to Suncor Energy's fourth-quarter earnings call. Please note that today's comments contain forward-looking information.

Financial results may differ materially from the expected results because of various risk factors and assumptions that are described in our fourth quarter earnings release, as well as in our annual information form, both of which are available on SEDAR, EDGAR, and our website, suncor.com.

Certain financial measures referred to in these comments are not prescribed by Canadian generally accepted accounting principles. For a description of these

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