Cenovus Energy (CVE) Tops Q1 Earnings Estimates

Core Viewpoint - Cenovus Energy reported quarterly earnings of $0.32 per share, exceeding the Zacks Consensus Estimate of $0.29 per share, but down from $0.46 per share a year ago, indicating a mixed performance in earnings despite a positive surprise this quarter [1][2]. Financial Performance - The company posted revenues of $9.26 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 2.18% and down from $9.94 billion year-over-year [2]. - Over the last four quarters, Cenovus has surpassed consensus EPS estimates only once, while topping revenue estimates two times [2]. Stock Performance - Cenovus shares have declined approximately 22.4% since the beginning of the year, contrasting with the S&P 500's decline of 4.3% [3]. - The current Zacks Rank for Cenovus is 3 (Hold), indicating expected performance in line with the market in the near future [6]. Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $9.21 billion, and for the current fiscal year, it is $1.41 on revenues of $37.83 billion [7]. - The outlook for the industry, specifically the Oil and Gas - Integrated - Canadian sector, is currently in the top 24% of Zacks industries, suggesting a favorable environment for performance [8].