Suncor Energy (SU-$30.05) is a long way from achieving the significant synergies envisioned from its all-stock C$19.63 billion acquisition of Petro-Canada last August: Net debt increased to 4.8 times cash flow from operations at year-end 2009, from 1.8 times in 2008. Return on employed capital, excluding major projects in progress (such as its Firebag bitumen in-situ mining operations) plummeted to 2.6 percent, from 22.5 percent in the prior year.
Can Suncor control operating costs and get its debt paid down towards the $10 billion range by the end of 2010? Continue Reading ….
Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.
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