Suncor Energy achieved a net profit of CAD1.13 bn ($0.83 bn) in the second quarter of 2025, while confirming its ability to generate robust cash flow, with CAD2.69 bn ($1.98 bn) in adjusted funds from operations. These results are based on a rigorous management strategy and financial choices geared towards performance.
Industrial production and financial discipline policy
The company recorded upstream production at a record level of 808,000 barrels per day, compared to 770,600 barrels per day for the same period in 2024. Refinery throughput also reached an unprecedented level of 442,000 barrels per day, with a utilisation rate of 95%. This industrial dynamism resulted from the early completion of major technical shutdowns, notably the replacement of the Upgrader 1 coke drum.
Refined product sales stood at 600,500 barrels per day, benefiting from increased refinery throughput and optimised industrial organisation. Increased production and proactive management of operations enabled revenue generation to grow across all segments.
Investment management and shareholder value creation
Capital and exploration expenditures amounted to CAD1.65 bn ($1.21 bn) in the second quarter, a decrease of 16% compared to the previous year. The company revised downward its annual investment spending forecast for 2025, now expected between CAD5.7 and CAD5.9 bn ($4.19–$4.34 bn).
The focus on shareholder returns resulted in CAD1.45 bn ($1.07 bn) returned via dividends and share buybacks. The dividend per share was 0.57 CAD and share repurchases reached 0.61 CAD per share, demonstrating the group’s commitment to delivering direct value in the financial market.
Cost structure and financial positioning
Operating, selling and administrative expenses remained stable at CAD3.16 bn ($2.33 bn), with increased procurement costs offset by a decrease in stock-based compensation. In the exploration and production segment, the ramp-up of Firebag and the resumption of White Rose contributed to operational performance.
Net debt stood at CAD7.67 bn ($5.64 bn), down from last year, supported by effective cash management. The early launch of the MLX-W (Mildred Lake Mine Extension West) project strengthens Suncor Energy’s capacity to secure future production while maintaining the group’s financial stability.
For management, anticipation and efficient execution of industrial projects remain key levers behind the results achieved in the second quarter.
