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Suncor Energy Q4 operating loss $26 million

Staff writer |
Suncor Energy reported its fourth quarter 2015 results. Operating loss was $26 million ($0.02 per common share).

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For 12 months free cash flow was $139 million.
This included a FIFO loss of $77 million, and cash flow from operations of $1.294 billion ($0.90 per common share) reflecting the lower crude oil price environment, compared to operating earnings of $386 million ($0.27 per common share), including a FIFO loss of $372 million, and cash flow from operations of $1.492 billion ($1.03 per common share), in the prior year quarter.

Highlights in the fourth quarter of 2015 included a favourable downstream pricing environment, increased production from Oil Sands operations, and lower operating costs.

For the twelve months ended December 31, 2015, free cash flow was $139 million, compared to $2.097 billion for the twelve months ended December 31, 2014.

A net loss of $2.007 billion ($1.38 per common share) was recorded in the fourth quarter of 2015, compared with net earnings of $84 million ($0.06 per common share) in the prior year quarter.

Net loss for the fourth quarter of 2015 was impacted by the same factors influencing the operating loss and included $1.599 billion of non-cash impairment charges and an unrealized after-tax foreign exchange loss of $382 million on the revaluation of U.S. dollar denominated debt.

Net earnings in the prior year quarter included the impact of an unrealized after-tax foreign exchange loss of $302 million.

Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$).


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