Suncor Energy's adjusted earnings decline 34 per cent year-over-year

Suncor Energy says it earned $2.05 billion in the first quarter of 2023, down from $2.95 billion in the same quarter of 2022.

The Calgary-based energy giant's net earnings included a $302-million gain on the sale of the company's wind and solar assets, which the company recently sold to Canadian Utilities Ltd. for $730 million.

On an adjusted basis, Suncor says its operating earnings for the first quarter were $1.81 billion, or $1.36 per common share, a 34-per-cent decrease year-over-year.