Suncor Energy Inc T.SU

Suncor loses $609M in Q3

[HighOctane89]

LMAO , WHAT A DISASTER !!!!!   How do you lose money when every other company posts record profits ????  No special dividends just the usual arrogant delivery of another garbage quarter . Well this does make every other producer look good although I wonder how Elliott Management people will feel about it

[Luckyguy777]

Loss is due to a revalue of assets based on the price they just paid for a larger % of the same asset.  It is a non-cash loss and likely should have been booked long ago if this is the current price.  Either that or maybe they got a steal of a deal from Tech that wanted to get rid of some assets. If they just bought an asset at a good deal it sucks to have to show a loss but them are

[HighOctane89]

Well Lucky , it may only be a paper loss but you watch , tomorrow the $609M loss will be the headline . There is no love for O&G in Toronto and SU is the red-headed stepchild as the TSE looks at it . Nobody will be talking about production , 100% refinery utilization , FCF or debt reduction . All you will hear is SU posted a loss , that is a reality you can bank on . It's made me make some

[Luckyguy777]

Don't get me wrong.  I don't like it (that the had to recognize an unrealized loss) but I will sit and collect the dividends.  I believe in the exceptional metrics of the sector and if others want to short this and buy other companies that don't have positive cash flow they are empowered to do it. Let's see how that works out when interest rates are going thru the roof

[Hightowntrader]

Hey Trudope, what % are you planning to tax our "Windfall losses"?