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1 Frozen Housing Market, 2 Very Different Earnings Stories
Suncor Energy (NYSE:SU) reported record third-quarter adjusted funds from operations of $6.7 billion and free funds flow of $5.2 billion, as strong production and refining helped the company capitalize on favorable commodity markets.
The company also raised its dividend by 10% and increased monthly share buybacks to CAD 750 million beginning in October. President and Chief Financial Officer Peter Zebedee said Suncor is on track for record annual shareholder returns in 2026.
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3 Energy Stocks Boosting Dividends as the Sector Widens Its 2026 Performance Lead
Chief Executive Officer Rich Kruger said Suncor completed major maintenance for the year and positioned itself for a strong finish. The company has also agreed to sell three offshore East Coast interests, while maintaining its financial improvement targets for 2028.
Production and refining performance
Upstream production averaged 853,000 barrels per day in the third quarter, up 92,000 barrels per day from a rain-affected second quarter. Kruger said it was Suncor's second-highest third-quarter production, despite a 47-day coker turnaround at Syncrude that was completed i...