Financial Performance - Revenues for Q4 2024 were $12,813 million, a decrease of 2.4% compared to Q4 2023's $13,134 million[3] - Net earnings for Q4 2024 were $146 million, down 80.4% from $743 million in Q4 2023[3] - The company reported a comprehensive income of $898 million for Q4 2024, compared to $497 million in Q4 2023, marking an increase of 80.8%[3] - The basic net earnings per share for 2024 were $1.68, down from $2.15 in 2023, a decrease of 21.8%[3] - Net earnings for Q4 2024 were $146 million, a decrease of 80% from $743 million in Q4 2023[13] - Total revenues for Q4 2024 increased to $7,326 million, up 6.3% from $6,895 million in Q4 2023[21] - Total external sales for the twelve months ended December 31, 2024, increased to $57,726 million, up 4.5% from $55,474 million in 2023[26] - Segment income for the twelve months ended December 31, 2024, was $5,863 million, a decrease of 7.0% from $6,300 million in 2023[26] Assets and Liabilities - Total assets increased to $56,539 million in 2024, up from $53,915 million in 2023, representing a growth of 4.8%[7] - Total liabilities increased to $26,770 million in 2024, compared to $25,203 million in 2023, reflecting a rise of 6.2%[7] - The company’s inventories increased to $4,496 million in 2024, up from $4,030 million in 2023, reflecting an increase of 11.6%[7] - The company’s total current tax expense for 2024 was $1,403 million, an increase from $1,181 million in 2023[65] - The total non-current assets as of December 31, 2024, amounted to $44,452 million, up from $43,058 million in 2023, indicating a growth of 3.2%[34] - Total current liabilities rose to $7,362 million as of December 31, 2024, compared to $6,210 million in 2023[137] Cash Flow and Investments - Cash and cash equivalents rose to $3,093 million, an increase of 39% from $2,227 million in 2023[7] - Cash from operating activities for the twelve months ended December 31, 2024, was $9,235 million, an increase of 25% compared to $7,388 million in 2023[13] - Capital investment for the twelve months ended December 31, 2024, was $5,015 million, an increase of 16.6% from $4,298 million in 2023[13] - Capital expenditures for Q4 2024 totaled $1,481 million, compared to $1,172 million in Q4 2023, marking a 26.3% increase[36] - The company reported a net finance cost of $514 million for the twelve months ended December 31, 2024, slightly down from $538 million in 2023[46] Debt and Equity - The company’s long-term debt increased to $7,342 million in 2024 from $7,108 million in 2023, a growth of 3.3%[7] - Long-term debt rose to $7,534 million in 2024 from $7,108 million in 2023, an increase of 6%[79] - Net debt decreased to $4,614 million as of December 31, 2024, down from $5,060 million in 2023, a reduction of 8.8%[85] - The net debt to adjusted EBITDA ratio remained stable at 0.5 times for both 2024 and 2023[85] - The company repurchased and canceled 55.9 million common shares in 2024 at an average price of $25.38 per share, totaling $1.4 billion, which reduced paid-in surplus by $966 million[96] Operational Metrics - Operating expenses for Q4 2024 were $1,627 million, slightly up from $1,563 million in Q4 2023, indicating a rise of 4.1%[3] - Operating margin for the total upstream segment increased to $2,670 million in Q4 2024, compared to $2,455 million in Q4 2023, reflecting a 8.8% growth[21] - The operating margin for the upstream segment for the twelve months ended December 31, 2024, was $11,121 million, up 12.7% from $9,870 million in 2023[24] Foreign Exchange and Risk Management - The company reported a foreign exchange gain of $462 million for the twelve months ended December 31, 2024, compared to a loss of $67 million in 2023[26] - The company had foreign exchange contracts with a notional value of $250 million as of December 31, 2024, compared to $nil in 2023[124] - The unrealized loss on risk management for the twelve months ended December 31, 2024, was $12 million, a significant improvement from a loss of $52 million in 2023[122] Commitments and Future Outlook - As of December 31, 2024, total commitments amount to $27.28 billion, with significant future payments in transportation and storage commitments totaling $24.26 billion[140] - The company has $1.8 billion related to transportation and storage commitments with HMLP, and outstanding letters of credit totaling $355 million[141] - The forward commodity prices for West Texas Intermediate (WTI) crude oil are projected to increase to $79.22 per barrel by 2029, with an average annual increase of 2% thereafter[53]

Group 1: Earnings Performance - Cenovus Energy reported quarterly earnings of $0.05 per share, missing the Zacks Consensus Estimate of $0.18 per share, and down from $0.29 per share a year ago, representing an earnings surprise of -72.22% [1] - The company posted revenues of $8.4 billion for the quarter ended December 2024, missing the Zacks Consensus Estimate by 15.98%, compared to year-ago revenues of $9.65 billion [2] - Over the last four quarters, Cenovus has surpassed consensus EPS estimates only once [2] Group 2: Stock Performance and Outlook - Cenovus shares have increased by approximately 3.2% since the beginning of the year, while the S&P 500 has gained 4.5% [3] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for investors [4] - The current consensus EPS estimate for the coming quarter is $0.33 on revenues of $9.66 billion, and for the current fiscal year, it is $1.49 on revenues of $38.36 billion [7] Group 3: Industry Context - The Oil and Gas - Integrated - Canadian industry, to which Cenovus belongs, is currently in the top 22% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5] - The current estimate revisions trend for Cenovus is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]

Financial Performance - Cenovus Energy Inc. reported over $2.0 billion in cash from operating activities for Q4 2024, down from $2.5 billion in Q3 2024 [14][22] - Adjusted funds flow for Q4 2024 was $1.6 billion, a decrease from $2.0 billion in the previous quarter [14][22] - The company generated $123 million in free funds flow in Q4 2024, compared to $614 million in Q3 2024 [14][22] - Net earnings for Q4 2024 were $146 million, significantly lower than $820 million in Q3 2024 [14][22] Production and Operations - Total upstream production reached 816,000 barrels of oil equivalent per day (BOE/d) in Q4 2024, a 6% increase from the previous quarter [6][9] - Oil Sands production set a new quarterly record at 628,500 BOE/d [6][9] - Total downstream throughput increased to 666,700 barrels per day (bbls/d), up from 642,900 bbl/d in Q3 2024 [11][12] Revenue and Margins - Total revenues for Q4 2024 were $12.8 billion, down from $13.8 billion in Q3 2024, primarily due to lower commodity prices [7][21] - The total operating margin was $2.3 billion, slightly lower than $2.4 billion in the previous quarter [8][21] - Upstream operating margin remained stable at $2.7 billion, while the downstream segment experienced a shortfall of $396 million due to weak refining crack spreads [8][21] Shareholder Returns - The company returned $706 million to shareholders in Q4 2024, including $108 million through share purchases and $348 million in dividends [32][22] - For the full year 2024, Cenovus returned $3.2 billion to shareholders [32][22] Growth Projects - Cenovus achieved significant milestones in its major upstream growth projects, including the mechanical completion of the Narrows Lake pipeline and the West White Rose project [17][18] - The optimization project at Foster Creek is 64% complete and on schedule for startup in 2026 [17][18] Reserves - At the end of 2024, Cenovus's total proved reserves were approximately 5.7 billion BOE, with a proved reserves life index of about 19 years [27][27]

The upcoming report from Cenovus Energy (CVE) is expected to reveal quarterly earnings of $0.18 per share, indicating a decline of 37.9% compared to the year-ago period. Analysts forecast revenues of $9.99 billion, representing an increase of 3.6% year over year.The current level reflects an upward revision of 15.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this perio ...

Analysts on Wall Street project that Cenovus Energy (CVE) will announce quarterly earnings of $0.18 per share in its forthcoming report, representing a decline of 37.9% year over year. Revenues are projected to reach $9.99 billion, increasing 3.6% from the same quarter last year.Over the last 30 days, there has been an upward revision of 15.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecas ...

Wall Street analysts expect Cenovus Energy (CVE) to post quarterly earnings of $0.18 per share in its upcoming report, which indicates a year-over-year decline of 37.9%. Revenues are expected to be $9.99 billion, up 3.6% from the year-ago quarter.Over the last 30 days, there has been an upward revision of 15.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timefr ...

CALGARY, Alberta, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its fourth-quarter and full-year 2024 results on Thursday, February 20, 2025. The news release will provide consolidated fourth-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com. Conference call: 9 a.m. MT (11 a.m. ET) To join the conference call, please dial 1-800-206-4400 (toll-free in North America) or 1-289-514-5005 to ...

Cenovus Energy (CVE) closed the most recent trading day at $15.50, moving +1.97% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.03% for the day. On the other hand, the Dow registered a gain of 0.28%, and the technology-centric Nasdaq decreased by 0.36%.Shares of the oil company witnessed a loss of 0.52% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.76% and the S&P 500's gain of 4.19%.The upcoming earnings relea ...

Cenovus Energy (CVE) closed the latest trading day at $15.06, indicating a +0.53% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.39%. At the same time, the Dow added 0.71%, and the tech-heavy Nasdaq gained 0.2%.Heading into today, shares of the oil company had lost 3.91% over the past month, lagging the Oils-Energy sector's gain of 1.79% and the S&P 500's gain of 1.7% in that time.The investment community will be paying close attention to the e ...

Company Performance - Cenovus Energy (NYSE: CVE) demonstrated strong performance despite volatility in gas and oil prices, attributed to its integrated upstream and downstream operations which help mitigate risks [1] Analyst Background - The analyst specializes in the industrial sector, valuing companies with a strong history of operational excellence and investor focus [1] - The analyst's investment philosophy has been beneficial over the years, and they aim to share insights on potential investment opportunities [1] Disclosure - The analyst holds a beneficial long position in Cenovus Energy (CVE) through stock ownership, options, or other derivatives [2] - The article reflects the analyst's personal opinions and is not compensated by any company mentioned [2]