Cenovus reports $743M Q4 profit, down from $784M a year earlier

Cenovus Energy Inc. reported a fourth-quarter of $743 million, down from $784 million a year earlier, as its revenue also edged lower.

The company says the profit amounted to 39 cents per diluted share for the quarter ended Dec. 31.

The result compared with a profit of 39 cents per diluted share a year earlier when it had more shares outstanding.

Revenue for the quarter totalled $13.13 billion, down from $14.06 billion in the fourth quarter of 2022.

Cenovus reported total upstream production of 808,600 barrels of oil equivalent per day, up from 806,900 a year earlier.

Downstream throughput was 579,100 barrels per day, up from 473,300 a year earlier.

This report by The Canadian Press was first published Feb. 15, 2024.