Overview

• Suncor achieved a quarterly production record of 808,000 barrels per day while hitting a record refining throughput of 442,000 barrels daily in Q2.
• The company generated C$2.7 billion in funds from operations and C$1.0 billion in free cash flow, posting a net result of $820 million and returning over $1.0 billion to shareholders.
• Adjusted operating profits fell to C$873 million from C$1.626 billion in Q2 2024 as lower oil prices weighed on margins.
• Turnaround projects delivered cost savings and early completion, with base plant coke drums replaced 24 days ahead of schedule at C$165 million under budget and the Mildred Lake West mine extension beginning output C$100 million below its budget.
• Management cut full-year capital spending guidance to C$5.7–5.9 billion and expanded its autonomous truck fleet to 120 units, targeting 150 or more by year-end to boost efficiency and safety.