Canadian Oil Sands misses EPS estimates, CEO Coutu retires

|About: Canadian Oil Sands Ltd. (COSWF)|By:, SA News Editor

Canadian Oil Sands (COSWF.OB), the largest partner in the Syncrude Canada oil sands mine, posts Q2 earnings that missed expectations and announces the retirement of CEO Marcel Coutu.

Q2 EPS was $0.45 vs. $0.53 consensus but more than double the $0.21 from a year ago; sales were $921M, up from $740M.

Reduces 2013 production outlook for the second time this year, to 100M-104M barrels.

Coutu has been at the helm of Syncrude since Aug. 2001.