Post by
Form001 on Feb 02, 2022 6:33pm
Strong results, better net profits
Suncor's net earnings were $1.553 billion ($1.07 per common share) in the fourth quarter of 2021, compared to a net loss of $168 million ($0.11 per common share) in the prior year quarter.
Subsequent to the fourth quarter of 2021, the TSX accepted a notice filed by Suncor to renew its NCIB to purchase the company's common shares through the facilities of the TSX, New York Stock Exchange and/or alternative trading systems. The notice provides that, beginning February 8, 2022, and ending February 7, 2023, Suncor may purchase for cancellation up to 71,650,000 common shares, which is equal to approximately 5% of Suncor's issued and outstanding common shares as at the date hereof. As at January 31, 2022, Suncor had 1,435,748,494 common shares issued and outstanding.
Comment by
Form001 on Feb 02, 2022 6:39pm
Net profits consensus was .94, they beat.
Comment by
Tommy123 on Feb 02, 2022 6:47pm
This post has been removed in accordance with Community Policy
Comment by
thegreattimario on Feb 02, 2022 6:52pm
Let the market punish them. Long term it only benifits them as they are repurchasing shares at a discount compared to their peers.