Suncor (SU) Misses Q4 Earnings Estimates On Crude Weakness
Zacks Investment Research | Feb 05, 2019 08:38PM ET
Suncor Energy (NYSE:SU) recently announced fourth-quarter 2018 earnings, wherein it delivered a comprehensive miss, breaking its impressive record of not missing earnings estimates in the trailing five quarters. The weaker-than-expected results can be attributed to weakness in oil prices and widening Canadian differentials, which impacted the upstream segment of the company to a large extent.
Suncor’s operating earnings per share came in at 27 cents, lagging the Zacks Consensus Estimate of 38 cents. The bottom line also deteriorated from the prior-year earnings of 75 cents per share.
Quarterly operating revenues of the Canadian integrated giant totaled $6,506 million, lagging the Zacks Consensus Estimate of $8,130 million. Moreover, the top line decreased from $8,569 million in the year-ago quarter.
Suncor Energy Inc. Price, Consensus and EPS Surprise
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