Cenovus Energy (CVE) Tops Q1 EPS by 12c

Cenovus Energy (NYSE: CVE) reported Q1 EPS of $0.10, $0.12 better than the analyst estimate of ($0.02).

“With the extensive due diligence we undertook prior to the acquisition of Husky, and our experience since the close of the acquisition, we’re highly confident we’ll deliver at least $1 billion in synergies this year and reach our planned $1.2 billion in annual run-rate synergies by the end of 2021,” said Alex Pourbaix, Cenovus President & Chief Executive Officer. “If the current commodity price environment is sustained, we expect to approach our $10 billion net debt target this year, prior to the benefit of any asset sales.”

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

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