Suncor Energy (SU) swung from a loss to a profit in the second quarter thanks to improved oil prices. The Calgary-based integrated energy company specializes in the production of synthetic crude from oil sands. Funds from operations increased from C$488 million to C$2.362 billion in the quarter ended June 30. Meanwhile, net earnings amounted to C$868 million (C$0.58 per share) in Q2 2021, up from a loss of C$614 million (C$0.40 per share) in Q2 2020. Operating earnings came in at C$722 million (C$0.48 per share), compared with a loss of C$1.35 billion (C$0.88 per share) a year ago, missing estimates by C$0.01.
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Suncor Energy (NYSE:SU)
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