Suncor Energy Reports 2010 First Quarter Results

Suncor Energy Inc. announced first quarter 2010 net earnings of $716 million ($0.46 per common share), compared to a net loss of $189 million ($0.20 per common share) for the first quarter of 2009.

The press release is quoted as saying:

Operating earnings in the first quarter of 2010 were $287 million ($0.18 per common share), compared to $380 million ($0.41 per common share) in the first quarter of 2009. The decreased operating earnings were primarily due to reduced production volumes at its oil sands operations, as the company recovered from the impact of two upgrader fires.

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