Cenovus Energy Inc. (CVE) reported fourth-quarter 2023 adjusted earnings per share of 29 cents, which beat the Zacks Consensus Estimate of 25 cents. The bottom line is in line with the year-ago quarter’s 29 cents.Total quarterly revenues of $9.65 billion missed the Zacks Consensus Estimate of $9.73 billion. The top line also declined from the year-ago quarter’s $10.36 billion.Strong quarterly earnings can be primarily attributed to higher contributions from the Oil Sands unit and lower expenses.Operational ...

bjdlzx Cenovus Energy Inc. (NYSE:CVE) just announced that they reduced debt by more than C$900 million. At the current pace of debt retirements, management should achieve net debt of C$4 billion early in the second quarter. Even if they reduce net debt in the future by half that pace, the amount of free cash flow available to shareholders will go from 50% to 100% within the next fiscal year. At least some of that will go to more dividends in the future. That "some more" could amount to a rather generous ...

Exhibit 99.2 Cenovus Energy Inc. Interim Consolidated Financial Statements (unaudited) For the Periods Ended December 31, 2023 (Canadian Dollars) CONSOLIDATED FINANCIAL STATEMENTS (unaudited) CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (UNAUDITED) 3 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) 4 CONSOLIDATED BALANCE SHEETS (UNAUDITED) 5 CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) 6 CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) 7 NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMEN ...

财务数据和关键指标变化 - 公司在第四季度实现了约21亿加元的调整后现金流 [28] - 公司在2023年全年实现了近90亿加元的调整后现金流 [34] - 公司在第四季度将净债务降低了9亿加元至51亿加元,实现了大幅减债 [29] - 公司在2023年全年通过基本股息、股票回购和赎回普通股认股权证等方式向股东分配了超过28亿加元 [34] 各条业务线数据和关键指标变化 上游业务 - 公司上游业务在第四季度实现了约25亿加元的营业利润,主要受益于产量增加和单位运营成本下降,但受到原油价格下降和重质油价差扩大的影响 [16] - 公司油砂和热采资产在2023年表现出色,进入2024年后将继续执行资本计划,支持未来两年的有机增长 [17] - 公司常规业务第四季度产量保持稳定在12.4万桶油当量/天,亚太地区天然气产量增加约20% [18][19] - 公司大西洋地区的特鲁诺亚FPSO在11月底恢复生产,12月份贡献了约4,000桶/天的产量 [19][20] 下游业务 - 公司加拿大炼油厂第四季度的原油利用率为91%,劳埃德明斯特炼油厂和炼油厂表现出色 [22] - 公司美国炼油厂在第四季度表现稳定,但受到芝加哥裂解价差大幅下降的影响,导致美国炼油业务的营业利润下降,同时也带来了约4.5亿加元的FIFO成本压力 [27] - 公司预计随着季节性影响的减弱和产品库存的再平衡,以及炼厂进入检修季,芝加哥炼厂价差将逐步恢复正常水平 [27] 各个市场数据和关键指标变化 - 随着TMX管线的投产,公司预计轻重质油价差将会收窄,这是一项重要的基础设施,为西加拿大盆地和公司提供了额外的出口渠道 [17] - 公司亚太业务全年实现约10亿加元的营业利润,表现出色和可预测性 [19] 公司战略和发展方向及行业竞争 - 公司将继续专注于实现40亿加元的净债务目标,推进高回报的上游增长项目,并持续提升下游业务的盈利能力 [35] - 实现净债务目标后,公司将把100%的剩余自由现金流返还给股东 [29][36] - 公司认为保持适度的资产负债率对于公司的抗风险能力和灵活性很重要 [130][132] - 公司正在与联邦和省政府就碳捕集和封存项目的财政支持进行谈判,以推动这些大型项目的实施 [142][143][156][158] 管理层对经营环境和未来前景的评论 - 公司在2023年取得了多项重要成就,包括两个炼厂的重启、西白玫瑰项目的推进,以及安全和可靠的上游运营 [30][12] - 公司预计2024年将继续专注于实现净债务目标,推进高回报的上游增长项目,并持续提升下游业务的盈利能力 [35] - 管理层对公司的上游业务和下游业务在2024年的表现持乐观态度 [21][22][23][24][27] - 管理层认为,公司目前的资产组合和战略方向是正确的,不需要进一步的资产剥离 [129][131] 问答环节重要的提问和回答 问题1 **Dennis Fong提问** 询问公司在下游业务方面的成本结构优化和运营改善措施 [39] **Keith Chiasson回答** 公司将专注于提高下游资产的可靠性和利用率,并充分利用Toledo和Lima炼厂的协同效应 [42][43][44][45] 问题2 **Menno Hulshof提问** 询问公司在溶剂辅助SAGD技术方面的进展和计划 [65] **Keith Chiasson回答** 公司长期以来一直在试验各种溶剂回收技术,但目前仍然专注于使用蒸汽的SAGD技术,因为这对公司的资源和经济性更有优势,未来会视情况考虑部署溶剂技术 [67][68] 问题3 **Greg Pardy提问** 询问公司上游业务的最新运营情况和产量水平 [71] **Keith Chiasson回答** 公司上游业务在第四季度和2024年初保持强劲增长势头,各个资产的产量和运营表现良好 [75][76][77][78]

业绩总结 - Cenovus在2024年的生产预期为790 MBOE/d，其中包括油砂产量为600 Mbbls/d[2] - 2023年第四季度，Cenovus的经营活动现金流为29.46亿美元，调整后的资金流为20.62亿美元[5] - 公司计划在2024年投资约15 - 20亿美元用于优化油砂项目，包括Sunrise和Narrows Lake[18] - 公司的长期目标是到2050年实现净零排放[23] 未来展望 - Cenovus的2024年预算旨在在多种商品价格情景下实现显著的调整后资金流[20] - 公司计划到2035年底将运营排放绝对量减少35%[31] - Pathways联盟的目标是在2050年实现油砂运营的净零排放[30] 新产品和新技术研发 - Cenovus正在推进在2023-2027年的第一阶段内的温室气体减排项目，包括碳捕获和储存项目[24] - 公司在能源效率和甲烷减排方面也有进展，包括设施系统电气化和近零排放设计[25] 市场扩张和并购 - 公司计划在2024年在白玫瑰项目投资约8亿美元[50] - 公司计划在2024年在传统领域投资约2.75亿美元[47] - 公司将在2024年在下游优化和利润提升方面投资约1.5亿美元[58]

Cenovus Energy (CVE) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16%. A quarter ago, it was expected that this oil company would post earnings of $0.63 per share when it actually produced earnings of $0.72, delivering a surprise of 14.29%.Over the last four quarters, the company h ...

CALGARY, Alberta, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) continued to deliver strong operational performance across the portfolio in the fourth quarter of 2023. The company's upstream assets performed exceptionally well, achieving the second-highest quarterly production rates in Cenovus's history. In its downstream business, the company continued to build operating momentum at its wholly-owned refineries. Upstream and downstream results were negatively impacted by a rapid ...

Cenovus Energy Inc. (CVE) is set to report fourth-quarter 2023 earnings on Feb 15, before the opening bell.In the last reported quarter, the company’s earnings of 72 cents per share beat the Zacks Consensus Estimate of 63 cents backed by higher contributions from the Oil Sands unit and lower expenses. CVE’s earnings missed the Zacks Consensus Estimate in one of the trailing four quarters and beat the same thrice, delivering an average negative earnings surprise of 3.3%. This is depicted in the graph below.E ...

CALGARY, Alberta, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its fourth-quarter and full-year 2023 results on Thursday, February 15. The news release will provide consolidated fourth-quarter and full-year operating and financial information. The company's quarterly and 2023 financial statements will be available on Cenovus's website, cenovus.com. Conference call: 9 a.m. MT (11 a.m. ET) To join the conference call without operator assistance, please register here ...

CALGARY, Alberta, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its fourth-quarter and full-year 2023 results on Thursday, February 15. The news release will provide consolidated fourth-quarter and full-year operating and financial information. The company’s quarterly and 2023 financial statements will be available on Cenovus’s website, cenovus.com. Conference call: 9 a.m. MT (11 a.m. ET) To join the conference call without operator assistance, please register her ...