RE: Net Profit up ~$.65 share Q2/Q1 to $2.75 /share FPE=~4I would never brag though more than a month ago I predicted Suncor would earn $2.75 / share after doing a 10 minute calculation.
One handy thing I just figured out from reading the report was we should be using the "New York Harbour ULSD 2-1-1 Crack Spread" quote to calculate revenues not the 3-2-1.
BTW the 2-1-1 spread is still $51.75 USD today vs RBOB 3-2-1 which is $29.58. https://www.cmegroup.com/markets/energy/refined-products/ny-harbor-heating-oil-crack-spread-calendar-swap.html https://www.cmegroup.com/markets/energy/refined-products/rbob-crack-spread-swap-futures.html Anyways I'm here in Suncor for the long term. Today’s results were killer. Suncor is earning $6.52 TTM. The PE is 6.05. I expect us to go lower because that seems to be what Suncor does. Still they just earned $6.52 in the last 12 months! Think of SHOP. Their PE is 310 because "someday" investors imagine they will earn $6.52 /share. BTW shop is trading at $52.75 based on those imagination earnings. I simply don't get it. I could never sleep owning something like that. With Suncor that future is already here.