Suncor Energy (SU) Q1 Earnings and Revenues Beat Estimates

Core Insights - Suncor Energy reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of$ 0.86 per share, but down from $1.05 per share a year ago, indicating a 13.3% year-over-year decline [1] - The company achieved revenues of$ 8.67 billion for the quarter, surpassing the Zacks Consensus Estimate by 3.95%, but down from $9.29 billion year-over-year, reflecting a 6.7% decrease [2] - Suncor Energy has consistently outperformed consensus EPS estimates over the last four quarters, with an earnings surprise of 5.81% this quarter and 8.54% in the previous quarter [1][2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is$ 0.64, with projected revenues of $7.83 billion, while the estimate for the current fiscal year is$ 3.40 on revenues of $33.34 billion [7] - The trend of estimate revisions for Suncor Energy is mixed, leading to a Zacks Rank of 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Oil and Gas - Integrated - Canadian industry, to which Suncor Energy belongs, is currently ranked in the top 22% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]