RE:Suncor year end Report Card / Total return of 42.85% IMO, suncor worker death count fall within the norm of the industry, overblown. Of course, any death should not happen in workplace and must be minimized.
SU had 12 worker death since 2014 (9 years), that's 1.333 per year/16992 worker count as of 2021, that's 1 in 12,744 death rate per year
Ontario mining statistic showed 2 death in 2021 from 24,971 workers. that's 1 in 12,485 death rate per year
Mining-health-safety-infographic-2021-WSN-2022-06-01.pdf (workplacesafetynorth.ca)
BC statistics from all sector showed 161 death from 2.5 million workers, that's 1 in 15,528 death rate per year. This look better than SU and Ontario Mining workplace death statistic but remember BC worker count is from all sectors, including rather low risk non-mining sectors like tourism, high tech and film/tv.
Work-related deaths: Data for planning health and safety in B.C. | Tableau Public
Clemxb7 wrote: The good, the bad and the unfortunate:
The good:
- Paid back a lot of debt – net debt should be under $11 billion. The current cash position should be good enough to possibly pay cash for the remaining stake in Fort Hills to own 100%. Suncor should have paid off 30%-35% of the net debt from January 1. It’s boring but very much a business improver.
- Bought back significant amount of shares: 7% as of November and possibly more in December. Buying back shares grows the value of each remaining share by 7.5% (1/.93) YTD.
- YTD capital gain of: 30.33% ($41.25/$31.65)
- Total return of 30.33% + 7.5% + 5.0% = 42.85%
- Bought a bigger stake in Fort hills at a good price which will increase production and reserves and likely now have the cash to buy 100%.
- Got rid of Little. I think a CEO is a lot like an NHL coach. Some can get more out of an organization than others. I really don’t think the new guy seems too bad (see list of goods).
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The bad:
- The worker death! I have worked in the industry for many years and I am shocked at how many deaths that have occurred at Suncor sites. This is something they should be able to address. They have to get a grip on this.
- Missed targets. For instance management keeps promising to aggressively buy back shares though that has been a bit uneven and sporadic.
- “Investor Day” Instead of talking about the good at Suncor they had to defend owning Petrocan and go into boring safety related detail.
The unfortunate:
- Having Elliot come in and propose selling Petrocan like it was easy as pie to get zillions. The way I see Petrocan it is neutral: neither an advantage nor disadvantage. It was unfortunate that Suncor got put into a position of having to defend owning something that was previously uncontroversial. Some investors seemed to flee when when it became know they wouldn't sell.