Thursday, 31 October 2024
Home Topics Business Cenovus Energy reports $820M Q3 profit, down from $1.86B a year ago
BusinessFuelNewsOil

Cenovus Energy reports $820M Q3 profit, down from $1.86B a year ago

8
Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.The Cenovus Christina Lake oilsands facility steam-assisted gravity drainage pad southeast of Fort McMurray, Alta., is shown on Wednesday, April 24, 2024. THE CANADIAN PRESS/Amber Bracke
Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.The Cenovus Christina Lake oilsands facility steam-assisted gravity drainage pad southeast of Fort McMurray, Alta., is shown on Wednesday, April 24, 2024. THE CANADIAN PRESS/Amber Bracke

CALGARY — Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.

The company says it earned $820 million or 42 cents per diluted share for the quarter ended Sept. 30, down from $1.86 billion or 97 cents per diluted share a year earlier.

Revenue for the quarter totalled $14.25 billion, down from $14.58 billion in the same quarter last year.

Total upstream production in the quarter amounted to 771,300 barrels of oil equivalent per day, down from 797,000 a year earlier.

Total downstream throughput was 642,900 barrels per day compared with 664,300 in the same quarter last year.

On an adjusted basis, Cenovus says its funds flow amounted to $1.05 per diluted share in its latest quarter, down from adjusted funds flow of $1.81 per diluted share a year earlier.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CVE)

The Canadian Press

Related Articles

FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo
BusinessEconomyOil

US oil output hits monthly record high in August, EIA says

US oil production rose 1.5 per cent in August to a monthly...

FILE PHOTO: A plant decorates the booth of Australian petroleum exploration and production company Woodside Energy during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 13, 2023. REUTERS/Chris Helgren/File Photo
BusinessFuelLiquefied Natural Gas

Woodside and Tokyo Gas in discussions over stake in US LNG project

Tokyo Gas is in talks with Woodside Energy over taking a stake...

Login into your Account

Please login to like, dislike or bookmark this article.