Canada's Suncor Energy Q1 operating profit beats expectations

Mon Apr 29, 2013 10:37pm EDT
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April 29 (Reuters) - Suncor Energy Inc's first quarter operating profit beat analyst expectations, boosted by higher oil sands production and better profitability in refining and marketing.

Canada's largest oil and gas company's first quarter operating profit was C$1.367 billion ($1.35 billion), or C$0.90 per share, compared with C$1.318 billion, or C$0.84 per share, in the year-ago period.

The result beat the average analyst forecasts of 75 Canadian cents per share, according to Thomson Reuters I/B/E/S.

Quarterly net profit was C$1.094 billion, or C$0.72 per share, compared with a profit of C$1.446 billion, or C$0.93 per share, a year ago.