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Suncor Energy Swings to 1Q Profit

05/03/2021 | 06:16pm

By Kimberly Chin

Suncor Energy Inc. swung to a profit in the first quarter as the company had higher funds from operations.

The Canadian energy company posted a profit of 821 million Canadian dollars ($668.6 million), compared with a loss of C$3.53 billion in the year-ago quarter. Earnings were C$0.54 a share, compared with C$2.31 a share a year earlier.

Funds from operations were C$2.11 billion, up from C$1 billion a year earlier. On a per-share basis, FFO was C$1.39 a share, up from C$0.08 a share a year ago. FFO included a C$126 million, or C$0.08 a share restructuring charge, the company said.

Write to Kimberly Chin at

(END) Dow Jones Newswires

05-03-21 2016ET

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