In its upcoming report, Suncor Energy (SU) is predicted by Wall Street analysts to post quarterly earnings of $1.45 per share, reflecting an increase of 59.3% compared to the same period last year. Revenues are forecasted to be $8.94 billion, representing a year-over-year increase of 3.1%.
The consensus EPS estimate for the quarter has been revised 31.1% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Suncor Energy metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Total upstream production per day' will reach N/A. Compared to the current estimate, the company reported N/A in the same quarter of the previous year.
Analysts' assessment points toward 'Total refined product sales per day' reaching 593.73 thousands of barrels of oil. Compared to the present estimate, the company reported 604.90 thousands of barrels of oil in the same quarter last year.
The collective assessment of analysts points to an estimated 'Sales Volumes per day - Total Oil Sands operations' of 803.82 thousands of barrels of oil. Compared to the current estimate, the company reported 773.40 thousands of barrels of oil in the same quarter of the previous year.
Analysts expect 'Crude oil processed per day - Eastern North America' to come in at 230.47 thousands of barrels of oil. Compared to the present estimate, the company reported 236.90 thousands of barrels of oil in the same quarter last year.
The combined assessment of analysts suggests that 'Crude oil processed per day - Western North America' will likely reach 242.54 thousands of barrels of oil. The estimate compares to the year-ago value of 245.80 thousands of barrels of oil.
Analysts forecast 'Crude oil processed per day - Total' to reach 473.01 thousands of barrels of oil. The estimate compares to the year-ago value of 482.70 thousands of barrels of oil.
It is projected by analysts that the 'Production Volumes per day - Oil Sands operations - non-upgraded bitumen' will reach 266.84 thousands of barrels of oil. The estimate compares to the year-ago value of 254.30 thousands of barrels of oil.
The average prediction of analysts places 'Production Volumes per day - Oil Sands Operations - Upgraded (SCO and Diesel)' at 536.98 thousands of barrels of oil. The estimate compares to the year-ago value of 536.60 thousands of barrels of oil.
According to the collective judgment of analysts, 'Sales Volumes per day - Oil Sands operations - Upgraded (SCO and Diesel)' should come in at 536.98 thousands of barrels of oil. Compared to the present estimate, the company reported 528.50 thousands of barrels of oil in the same quarter last year.
Based on the collective assessment of analysts, 'Sales Volumes per day - Oil Sands operations - non-upgraded bitumen' should arrive at 266.84 thousands of barrels of oil. Compared to the present estimate, the company reported 244.90 thousands of barrels of oil in the same quarter last year.
The consensus estimate for 'Production Volumes per day - Total Fort Hills bitumen production' stands at 182.36 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 176.40 thousands of barrels of oil.
The consensus among analysts is that 'Production Volumes per day - Total Syncrude production' will reach 197.37 thousands of barrels of oil. Compared to the present estimate, the company reported 206.00 thousands of barrels of oil in the same quarter last year.
View all Key Company Metrics for Suncor Energy here>>>Shares of Suncor Energy have experienced a change of +3.3% in the past month compared to the +12.2% move of the Zacks S&P 500 composite. With a Zacks Rank #1 (Strong Buy), SU is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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