Suncor Energy reports first quarter 2026 results
Press Release
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn $), and derived from the company’s condensed consolidated financial statements which are based on Canadian generally accepted accounting principles (GAAP), specifically International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), and are prepared in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. Production volumes are presented on a working-interest basis, before royalties, except for production values from the company’s Libya operations, which are presented on an economic basis. Certain financial measures referred to in this news release (adjusted funds from operations, adjusted operating earnings, free funds flow, and net debt) are not prescribed by Canadian generally accepted accounting principles (GAAP). See the Non-GAAP Financial Measures section of this news release. References to Oil Sands operations exclude Suncor Energy Inc.’s ownership of Fort Hills and interest in Syncrude.
Calgary, Alberta (May, 5, 2026) Suncor Energy (TSX: SU) (NYSE: SU)
First Quarter Highlights
⦁ Generated over $4.0 billion in adjusted funds from operations and $2.9 billion in free funds flow.
⦁ Returned over $1.5 billion to shareholders, with $825 million in share repurchases and over $700 million in dividends.
⦁ Record first quarter upstream production of 875,000 barrels per day (bbls/d), 22,000 bbls/d higher than the prior year quarter.
⦁ Record first quarter refining throughput of 498,000 bbls/d, 15,000 bbls/d higher than the prior year quarter.
⦁ Record quarterly refined product sales of 681,000 bbls/d, 76,000 bbls/d higher than the prior year quarter.
“As showcased at our recent Investor Day, today’s Suncor is a results-oriented, high-performance organization focused on meeting our commitments and generating strong and sustainable shareholder returns,” said Rich Kruger, President and Chief Executive Officer. “We delivered record first quarter upstream production and refining throughput in addition to an all-time quarterly record for refined product sales.”
“We achieved this performance while maintaining a disciplined capital spending program as well as a strong balance sheet, allowing us to increase our monthly share repurchases for the second time in four months,” added Troy Little, Chief Financial Officer.
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