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Cenovus: 1Q Earnings Snapshot

CALGARY, Alberta (AP) _ Cenovus Energy Inc. (CVE) on Wednesday reported first-quarter net income of $82.8 million, after reporting a loss in the same period a year earlier.

The Calgary, Alberta-based company said it had profit of 7 cents per share. Earnings, adjusted for non-recurring gains, came to 5 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The oil company posted revenue of $3.91 billion in the period.

Cenovus shares have increased 49 percent since the beginning of the year. The stock has climbed roughly 9 percent in the last 12 months.


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