Ovintiv(US:OVV)2024-11-08 18:02Financial Performance - 3Q24 diluted earnings per share were $1.92[10] - 3Q24 diluted cash flow per share was $3.70[11] - 3Q24 free cash flow was $440 million[11] - The 3Q24 free cash flow yield was 17%[12] - 60% of 2Q24 free cash flow was returned to shareholders in 3Q24[20] - Debt reduction in 3Q24 amounted to $210 million[23] Shareholder Returns - Approximately $2.7 billion has been returned to shareholders, including ~$850 million in base dividends and ~$1.85 billion in buybacks[17] - Over 40 million shares have been repurchased since 3Q21[17, 21] - $181 million in buybacks are expected in 4Q24[17] - The 3Q24 cash return yield was 9%[19] Operational Performance & Guidance - 3Q24 oil & condensate production was 212 Mbbls/d, exceeding guidance of 204-208 Mbbls/d[16] - 3Q24 total production was 593 MBOE/d, exceeding guidance of 565-580 MBOE/d[16] - Capital expenditure for 3Q24 was $538 million, below the guidance midpoint of $530-$570 million[16] - Full year 2024 capital expenditure is projected to be ~$2300 million[39, 42] - Updated full year 2024 total production guidance is 583-587 MBOE/d[40]