This morning's news features a flurry of corporate earnings, including a record-breaking performance from Suncor. Lightspeed Commerce ends its strategic review and chooses to remain public. A new poll reveals strong Canadian support for export taxes on oil as a response to US trade actions. The Canadian business community faces a serious threat from tariffs, with many companies reconfiguring their supply chains and moving production out of China. Ford Motor Co. warns of falling profits due to lower vehicle prices, sluggish EV demand, and higher costs.
Here are five things you need to know this morningThere are a slew of quarterly results to digest from TSX -listed firms this morning, perhaps none more notable than oil producer Suncor , where, better than the $1.17 expected. Cash flow rose to $5.08 billion from $3.4 billion and upstream production rose to 875,000 barrels per day, a record. We also have numbers from Sherritt to pore over, where adjusted EBITDA swung to a gain of $15.4 million, reversing last year’s negative $7 million.
. The launch of the review in late 2024 prompted speculation the company may go private, but chair Patrick Pichette said the review process made it clear that the best way forward for the company to maximize value is to proceed as a public entity and implement its turnaround plan. The company also posted quarterly results this morning, numbers that showed a loss of US$26.6 million for the three months up to the end of December. That’s less than the $40.
new poll out this morning from Nanos Research Group, which found that 82 per cent of respondents supported the idea . Even in oil-rich provinces like Alberta and Saskatchewan, support for such a move was as high as 72 per cent. Canada ships about 4 million barrels a day of crude oil to the U.S., all of which is subject to a 10 per cent tariff starting next month, according to U.S. President Donald Trump. A further 79 per cent of those polled said they supported Ottawa’s plan to slap retaliatory tariffs on U.S. imports, if necessary, even though that would raise consumer prices.
TSX EARNINGS SUNCOR LIGHTSPEED TRADE WAR TARIFFS FORD
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