Ovintiv's Q3 Earnings Beat Estimates, Revenues Down 12% Y/Y

Ovintiv Inc. (OVV) reported third-quarter 2024 adjusted earnings per share of $1.85, which beat the Zacks Consensus Estimate of$1.09. The beat can be attributed to better-than-expected total production, which exceeded the consensus mark by 3% and a 17.4% year-over-year reduction in expenses. Additionally, the bottom line increased from the year-ago level of $1.74.The Denver, CO-based oil and gas exploration and production company’s total revenues of$2.3 billion decreased 12.3% from the year-ago quarter’s ...