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Cenovus: 2Q Earnings Snapshot

July 25, 2019

CALGARY, Alberta (AP) _ Cenovus Energy Inc. (CVE) on Thursday reported second-quarter net income of $1.33 billion, after reporting a loss in the same period a year earlier.

The Calgary, Alberta-based company said it had profit of $1.08 per share. Earnings, adjusted for non-recurring gains, were 16 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The oil company posted revenue of $4.43 billion in the period.

Cenovus shares have risen 33% since the beginning of the year. The stock has fallen nearly 9% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVE at https://www.zacks.com/ap/CVE

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