Cenovus Energy (CVE) Reports Q4 Miss on Revenues

Cenovus Energy (NYSE: CVE) reported Q4 EPS of $, versus $0.09 reported last year. Revenue for the quarter came in at $3.4 billion versus the consensus estimate of $3.82 billion.

Key 2017 highlights

• Increased free funds flow by 216% compared with 2016
• Increased cash from operating activities and adjusted funds flow by 255% and 105%, respectively, compared with 2016
• Recorded net earnings of $3.4 billion versus a net loss of $545 million in 2016
• Repaid and retired the company’s $3.6 billion bridge credit facility
• Doubled proved bitumen reserves to approximately 4.8 billion barrels
• Reduced general and administrative (G&A) costs by 44% per barrel of oil equivalent (BOE) and oil sands operating costs by 6% per barrel from 2016

For earnings history and earnings-related data on Cenovus Energy (CVE) click here.

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