Suncor Energy Inc. says it earned $2.02 billion in its third quarter, up from $1.54 billion a year earlier.
The Calgary-based oil giant says its earnings work out to $1.59 per common share, up from $1.19 during the same quarter last year.
Adjusted operating earnings were $1.88 billion, or $1.48 per common share, down from $1.98 billion or $1.52.
The company says the decrease in adjusted operating earnings was primarily due to lower realized crude oil prices and refined product realizations.
Get weekly money news
Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.
Suncor says its upstream production for the quarter totalled approximately 828,600 barrels of oil equivalent per day, up from approximately 690,500 barrels per day in the prior year’s quarter.
The company says its refinery crude throughput increased to 488,000 barrels per day and its refinery utilization was 105 per cent, compared with 463,200 barrels per day and 99 per cent in the prior year’s quarter.
© 2024 The Canadian Press