CALGARY, Alberta (AP) _ Suncor Energy Inc. (SU) on Tuesday reported a first-quarter loss of $2.63 billion, after reporting a profit in the same period a year earlier.
The Calgary, Alberta-based company said it had a loss of $1.72 per share. Losses, adjusted for non-recurring costs, came to 15 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The energy company posted revenue of $5.78 billion in the period.
Suncor Energy shares have decreased 49% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.57, a decrease of 48% in the last 12 months.