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Wall St Engine
@wallstengine
Fast, accurate, consistent stock market news, earnings highlights & more. By Brillinsight. Not financial advice.
ๅŠ ๅ…ฅ March 2022
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CENOVUS $CVE Q3โ€™26 EARNINGS HIGHLIGHTS ๐Ÿ”น Revenue: C$16.00B (Est. C$16.68B) ๐Ÿ”ด; +6% YoY ๐Ÿ”น EPS: C$1.83 (Est. C$1.69) ๐ŸŸข; +154% YoY ๐Ÿ”น Net Earnings: C$3.36B (Est. C$3.08B) ๐ŸŸข; +161% YoY Operations: ๐Ÿ”น Upstream Production: 1,024 MBOE/d ๐Ÿ”น Downstream Throughput: 437.2 Mbbls/d; -38% YoY ๐Ÿ”น Crude Unit Utilization: 92% Segment Net Revenue: ๐Ÿ”น Oil Sands Production: 833 MBOE/d ๐Ÿ”น Conventional Production: 120.1 MBOE/d ๐Ÿ”น Offshore Production: 70.4 MBOE/d Other Q3 Metrics: ๐Ÿ”น Adjusted Funds Flow: C$5.02B; +104% YoY ๐Ÿ”น Free Funds Flow: C$3.57B; +172% YoY ๐Ÿ”น Operating Margin: C$6.33B; +114% YoY Announcements: ๐Ÿ”น Athabasca Acquisition: ~45 MBOE/d; 1.3B BOE reserves ๐Ÿ”น Athabasca Transaction: C$5.7B implied enterprise value Capital Return: ๐Ÿ”น Shareholder Returns: C$1.90B ๐Ÿ”น Repurchases: C$1.50B ๐Ÿ”น Dividends: C$403M; C$0.22/share Comments: ๐Ÿ”ธ โ€œWe exceeded one million BOE per day of production in the quarter for the first time ever. This milestone was achieved in only our seventeenth year operating as an independent company. Our asset performance continues to unlock significant value across our portfolio.โ€ ๐Ÿ”ธ โ€œAs we close the year, our focus remains on consistent execution, safe operations and leveraging the competitive advantages created by our people, asset base and integrated business model.โ€
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