CALGARY — Suncor Energy Inc. says its second-quarter earnings were down from last year, largely on lower oil prices, as it also revised down its expected capital spending for the year.
The oilsands producer says it had a net income of $1.13 billion for the quarter ending June 30, down from $1.57 billion in the same quarter last year.
The lower profit came despite record second-quarter production and refinery throughput after completing major maintenance work.
Suncor says adjusted operating earnings worked out to $873 million, down from $1.63 billion in the same quarter last year.
Adjusted earnings were 71 cents per share, down from $1.27 last year, while the mean analyst estimate was for 69 cents per share, according to LSEG Data & Analytics.
The company says it has reduced its expected capital spending for the year by $400 million to between $5.7 billion and $5.9 billion.
This report by The Canadian Press was first published Aug. 6, 2025.
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