Suncor operating profit falls 25 pct, misses analyst expectations

Wed Jul 31, 2013 10:19pm EDT
 
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July 31 (Reuters) - Suncor Energy Inc, Canada's largest oil and gas company, said late on Wednesday its second-quarter operating profit fell 25 percent, missing analyst expectations by a penny.

Net income for the quarter was C$680 million ($661.45 million), or 45 Canadian cents per share, up from C$324 million, or 21 Canadian cents, in the second-quarter of 2012.

Operating profit, which excludes most one-time items, fell 25 percent to C$934 million, or 62 Canadian cents per share, down from C$1.25 billion, or 80 Canadian cents a share, in the year-prior quarter.

The result missed the average analyst forecast of the measure of 63 Canadian cents per share according to Thomson Reuters I/B/E/S.