Analyst Consensus ?
ConsensusBuy31 ratings
Bullish2374.2%
Neutral825.8%
Bearish00.0%
Suncor Energy Inc. · SU · FY2026 Q2 · Calendar Q3 2026
Suncor pairs record Q2 cash generation with higher buybacks
Suncor’s Q2 discussion supports a case that integrated operations, turnaround efficiencies and export flexibility can underpin cash generation and shareholder returns. The case still depends on execution through weather and turnaround risks, commodity conditions and the durability of downstream margins.
Why did SU fall 2.5% after beating EPS estimates in FY2026 Q2?
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Reported After market closeNYSEEnergy
$85.06B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.27
Consensus $2.14
EPS surprise
+6.1%
Reported versus consensus
Reported revenue
$12.34B
Consensus $11.68B
Revenue surprise
+5.7%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-2.5%
Event window
SPY move
-0.2%
Same window
Abnormal move
-2.3%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
+8.9%
Up to 20 sessions
SUSPY benchmark
Ask FN2 about SU FY2026 Q2
Choose a question to continue your research
Why did SU fall 2.5% after beating EPS estimates in FY2026 Q2?What changed in SU's guidance and outlook in FY2026 Q2?Give me the bull and bear case for SU after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Compared with the prior-quarter analysis, management’s current discussion emphasized resilience to severe weather, reduced turnaround costs and durations, record jet-fuel exports, and an increase in the monthly buyback program to $500 million. The prior analysis had cited a $275 million monthly buyback pace in early 2026.
Guidance delta
Management maintained guidance; the supplied analysis does not identify a change to the outlook.
Key takeaways
- AFFO and cash flow reached all-time highs, according to the supplied call analysis.
- Management described strong downstream margin capture and integrated trading and export flexibility.
- The monthly buyback program increased to $500 million.
- Turnaround costs and durations declined, while management described measures to address weather-related production impacts.
Management priorities
- Optimize turnarounds and extend plant cycles.
- Expand jet-fuel exports and global product sales.
- Use the integrated model to route crude and products flexibly.
- Maintain shareholder returns through buybacks and dividends.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$72.04Current
$26.26Low
$56.3Average
$106High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 5, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Apr 1, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 1, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Jan 20, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Jul 12, 2024 |
| TD Securities | Hold | Hold | Maintain | May 22, 2024 |
| Morgan Stanley | Overweight | Overweight | Maintain | Mar 28, 2024 |
| Wells Fargo | Overweight | Equal Weight | Upgrade | Aug 23, 2023 |
| National Bank Financial Inc | Outperform | Outperform | Maintain | Jun 29, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Jun 9, 2022 |
| CIBC | Outperform | Outperform | Maintain | Oct 26, 2020 |
| Evercore ISI Group | In Line | Outperform | Downgrade | Apr 3, 2019 |
| Macquarie | Outperform | Neutral | Upgrade | Feb 7, 2019 |
| GARP Research | Buy | Neutral | Upgrade | Oct 22, 2018 |
| Mizuho | Buy | Buy | Maintain | Jul 24, 2018 |
| UBS | Buy | Buy | Maintain | Mar 7, 2018 |
| Edward Jones | Buy | Hold | Upgrade | Nov 21, 2017 |
| National Bank Financial | Outperform | Outperform | Maintain | Jun 27, 2017 |
| Desjardins | Buy | Hold | Upgrade | Dec 1, 2016 |
| Bank of America | Buy | Buy | Maintain | Aug 19, 2016 |
| Citigroup | Buy | Neutral | Upgrade | Jun 23, 2016 |
| Nomura | Buy | Buy | Maintain | Apr 22, 2015 |
| GMP Securities | Hold | Hold | Maintain | Apr 14, 2015 |
| Deutsche Bank | Neutral | Neutral | Maintain | Jan 22, 2015 |
| B of A Securities | Neutral | Buy | Downgrade | Dec 11, 2014 |
| AltaCorp Capital | Outperform | Outperform | Maintain | Sep 16, 2014 |
| FirstEnergy Capital | Outperform | Market Perform | Upgrade | Mar 27, 2014 |
| ISI Group | Buy | Buy | Maintain | Nov 12, 2013 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Oct 24, 2013 |
| Stifel | Hold | Buy | Downgrade | Oct 24, 2013 |
| Global Hunter Securities | Buy | Buy | Maintain | Jun 6, 2013 |
| BMO Capital | Outperform | Market Perform | Upgrade | Apr 23, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $72.04. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Devin McDermott | $106 | $68.53 | +47.1% | Aug 19, 2026 |
| Goldman Sachs | Neil Mehta | $72 | $65.47 | -0.1% | Jun 5, 2026 |
| Goldman Sachs | Analyst unavailable | $54 | $49.87 | -25.0% | Jan 23, 2026 |
| RBC Capital | Analyst unavailable | $70 | $45.77 | -2.8% | Jan 9, 2026 |
| Goldman Sachs | Analyst unavailable | $48 | $44.36 | -33.4% | Jan 2, 2026 |
| BMO Capital | Randy Ollenberger | $65 | $39.67 | -9.8% | Nov 13, 2024 |
| BMO Capital | Randy Ollenberger | $62 | $40.69 | -13.9% | May 22, 2024 |
| Goldman Sachs | Analyst unavailable | $43 | $37.82 | -40.3% | May 20, 2022 |
| Morgan Stanley | Michelle Weaver | $45 | $37.22 | -37.5% | May 4, 2022 |
| Tudor Pickering | Matt Murphy CFA | $33.42 | $28.91 | -53.6% | Feb 3, 2022 |
| Morgan Stanley | Devin McDermott | $36.6 | $27.32 | -49.2% | Jan 25, 2022 |
| Bank of America Securities | Doug Leggate | $35.01 | $26.33 | -51.4% | Jan 10, 2022 |
| Goldman Sachs | Neil Mehta | $22.28 | $22.6 | -69.1% | Oct 19, 2021 |
| Evercore ISI | Stephen Richardson | $26.26 | $18.98 | -63.5% | Jul 30, 2021 |
Track every rating change on SU the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationSuncor Energy Inc. operates as a fully integrated energy enterprise. Its primary focus involves the development of hydrocarbon resources, particularly within Canada's Athabasca oil sands region. Globally, the company undertakes the exploration, acquisition, development, production, transportation, refining, and marketing of crude oil. Domestically, it distributes petroleum and petrochemical products, predominantly under the Petro-Canada brand. Suncor's operations are divided into several key segments: The Oil Sands division extracts bitumen through both mining and in-situ techniques, converting it into refinery feedstock and diesel, or blending it for direct market sale.…
Historical context
All SU earningsEnergy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CVE Cenovus Energy Inc. | FY2026 Q3 · Calendar Q4 2026 | +17.0% | -7.6% | Cenovus set a production record as refining margins reached highs |
| OVV Ovintiv Inc. | FY2026 Q3 · Calendar Q4 2026 | -2.0% | -5.1% | Ovintiv Holds 2026 Output Guidance as Logan Deal Expands Montney Inventory |
| ET Energy Transfer LP | FY2026 Q3 · Calendar Q4 2026 | — | -0.9% | Energy Transfer lifts EBITDA outlook as expansion and Vaquero deal add growth plans |
Latest beats and misses
Who reports nextBeat on EPS
- PFGCFY2027 Q1 · November 4, 2026+3.9% EPS+13.5% move
- MDLNFY2026 Q3 · November 4, 2026+28.2% EPS+18.4% move
- NVOFY2026 Q3 · November 4, 2026+21.8% EPS+5.0% move
- CRLFY2026 Q3 · November 4, 2026+4.0% EPS-7.3% move
- CVEFY2026 Q3 · November 4, 2026+17.0% EPS-7.6% move
- KHCFY2026 Q3 · November 4, 2026+25.1% EPS+3.8% move
Missed on EPS
- UTHRFY2026 Q3 · November 4, 2026-5.0% EPS+1.2% move
- TRMBFY2026 Q3 · November 4, 2026-0.2% EPS-17.3% move
- OCFY2026 Q3 · November 4, 2026-20.5% EPS+8.5% move
- OHIFY2026 Q3 · November 3, 2026-42.5% EPS+3.5% move
- MOSFY2026 Q3 · November 3, 2026-1656.0% EPS+17.4% move
- OVVFY2026 Q3 · November 3, 2026-2.0% EPS-5.1% move
Get the SU recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-05T18:19:27.826575+00:00
- FN2 earnings calendar · 2026-09-09T01:23:14.388487+00:00
- Polygon adjusted daily market bars · 2026-11-05T04:50:41.477140+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-05T04:50:41.474499+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-05. For educational purposes only; not investment advice.