-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下： SU公佈的調整後營業利潤為23億加元，年增41%，主要得益於下游利潤率的提高、上游價格的上漲以及銷量的增長。調整後的營運資金成長32%至40.3億加元，自由現金流飆升53%至29.1億加元。上游產量達87.52萬桶/日（成長2.6%），煉油加工量為49.78萬桶/日，利用率為97%。公司透過股票回購和分紅向股東返還了15.4億加元，同時管理層將每月股票回購額提高了27%至3.5億加元，預計2026年股票回購總額將接近40億加元，比2025年的水平增長30%以上。投資者日概述了三年目標，包括2028年自由資金流增加20億加元，企業WTI損益平衡點降低5美元/桶至38美元/桶，以及上游產量增加10萬桶/日。我們仍看好其高效的一體化佈局，因為原油價格下跌應能使其產能利用率恢復至接近100%，從而受益於更高的處理能力和更優的價格環境。
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