Suncor reports decline in third-quarter profits, record production
By The Canadian Press
Published: November 04, 2025 at 5:41PM EST
The Suncor Energy Centre picture in downtown Calgary, Alta., Friday, Sept. 16, 2022.THE CANADIAN PRESS/Jeff McIntosh
CALGARY — Oilsands giant Suncor Energy Inc. has reported a decline in third-quarter profits amid weak oil prices, while production and refinery throughput hit new records.
Net earnings were $1.62 billion during the three months ended Sept. 30, down from $2.02 billion a year earlier.
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The profit amounted to $1.34 per share compared to $1.59 per share.
Operating revenues net of royalties were $6.17 billion, down from $6.32 billion during the same 2024 quarter.
Total upstream production in the quarter was 870,000 barrels of oil equivalent per day, up from 828,600 boe/d.
Suncor’s refineries processed 491,700 barrels per day, an increase from 487,600 barrels in the year-ago quarter.
“Our people continue to deliver shareholder value with a culture that every barrel and every dollar matters,” CEO Rich Kruger said in a news release Tuesday.
“Underpinned by our integrated business model, we are elevating overall performance and generating higher, more reliable and more ratable free cash flow with less volatility and dependence on the external business environment.”
Also Tuesday, Suncor announced it will raise its quarterly dividend by five per cent to 60 cents per share.
This report by The Canadian Press was first published Nov. 4, 2025.
Lauren Krugel, The Canadian Press |
