Q3 eps will be revised upward Last week i did a calculation of Q3 results vs Q2 using very,very low conservative numbers for
production and retail sales.
All $ in CDN$
At that time 3-2-1 spread were $47.21 now $42.47
2-1-1 spreads were $53.05 now $48.52
WTI $109.99 now $118.66
On the upstream i used 640,000 bbls/day and with that, SU were to make 26 cents more in
Q3 than in Q2.NOW THE 26 CENTS IS UP TO 29 CENTS
On the downstream i used 410,000 bbls/day and with that,SU were to make 22 cents more.NOW THE 22 CENTS IS DOWN TO 20 CENTS
So even though spreads are down, the increase in WTI more than make the drop in spreads(1 cents more in total profitability).
That the beauty of Suncor in this kind of environment.
Yahoo EPS estimates of 8 analysts does make any sense at all.
These numbers will be revised upward.Right now,they show $1.17 for Q3
In Q2, net earningss were $1.44 and operating earnings came in at 96 cents
My conservative calculations give me operating earnings in the area of $1.50.