Yahoo Finance Suncor Energy First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag
Suncor Energy (TSE:SU) First Quarter 2024 Results
Key Financial Results
Revenue: CA$12.4b (up 3.9% from 1Q 2023).
Net income: CA$1.61b (down 22% from 1Q 2023).
Profit margin: 13% (down from 17% in 1Q 2023). The decrease in margin was driven by higher expenses.
EPS: CA$1.25 (down from CA$1.54 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Suncor Energy EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 6.4%.
Looking ahead, revenue is expected to decline by 1.0% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 5.6%.
Performance of the Canadian Oil and Gas industry.
The company's shares are up 4.8% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Suncor Energy has 2 warning signs (and 1 which doesn't sit too well with us) we think you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
