Cenovus (CVE) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Cenovus Energy (CVE) reported $10.87 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 18.9%. EPS of $0.72 for the same period compares to $0.62 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $9.84 billion, representing a surprise of +10.46%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being $0.63.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cenovus performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Upstream Production Volumes: 797 millions of barrels of oil equivalent per day versus the two-analyst average estimate of 806.38 millions of barrels of oil equivalent per day.
Production by Product - Conventional Natural Gas: 867.4 millions of cubic feet per day versus 703.95 millions of cubic feet per day estimated by two analysts on average.
Upstream - Crude Oil Production - Total: 601.6 millions of barrels of oil per day versus the two-analyst average estimate of 619.15 millions of barrels of oil per day.
View all Key Company Metrics for Cenovus here>>>
Shares of Cenovus have returned +1.9% over the past month versus the Zacks S&P 500 composite's +0.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Cenovus Energy Inc (CVE) : Free Stock Analysis Report
