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Ovintiv Inc. (OVV)
:OVV
Holding OVV?
Track your performance easily
Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.08Last Year’s EPS
2.35Same Quarter Last Year
Strong Buy
Based on 15 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 07, 2020
|% Change Since: 10.88%
|Next Earnings Date:Feb 20, 2020
Earnings Call Sentiment|Positive
The earnings call highlighted Ovintiv's strong financial performance, production outperformance, and significant operational efficiency gains, alongside effective debt reduction and shareholder returns. Despite challenges from low oil prices and exposure to volatile gas markets, the company's overall results were positive.Company Guidance
During Ovintiv's Q3 2024 earnings call, the company reported impressive financial results, including net earnings of $507 million or $1.92 per share and cash flow of $978 million or $3.70 per share, surpassing consensus estimates. The company generated free cash flow of $440 million and achieved a notable reduction in total debt, repaying $210 million to reach a total debt of $5.88 billion by the end of the quarter. Ovintiv also returned 60% of its free cash flow to shareholders via dividends and share buybacks. Operationally, the company exceeded the high end of its production guidance, with total production at approximately 593,000 barrels of equivalent per day, driven by strong performances in the Permian and Montney regions. The company maintained its capital investment within guidance, spending about $538 million in the quarter. Looking ahead, Ovintiv revised its production guidance upwards, expecting to sustain oil and condensate production at approximately 205,000 barrels per day with an annual capital investment of $2.3 billion, while continuing to focus on capital efficiency and debt reduction to enhance shareholder returns.Strong Financial Performance
Ovintiv delivered net earnings of $507 million or $1.92 per share and cash flow of $978 million or $3.70 per share, beating consensus estimates. Free cash flow was $440 million, higher than the second quarter despite lower oil prices.
Production Outperformance
Total production was approximately 593,000 barrels of equivalent per day, beating the high end of guidance. The Permian and Montney regions showed strong well results and outperformance.
Debt Reduction Achievements
Ovintiv reduced debt by $210 million in Q3, with the total debt at the end of Q3 at $5.88 billion. The company plans to direct $150 million from a legacy disposition settlement to further debt reduction.
Operational Efficiency Gains
Drilling and completions in the Permian were the fastest ever, with drilling speed averaging 2,170 feet per day (28% faster than last year) and completions at 3,875 feet per day (21% faster than last year).
Shareholder Returns
Ovintiv returned $240 million to shareholders through share repurchases and base dividends, representing a competitive cash return yield of approximately 9%.
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OVV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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OVV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $41.25 | $42.86 | +3.90% |
| Jul 30, 2024 | $45.29 | $45.74 | +0.99% |
| May 07, 2024 | $51.39 | $49.83 | -3.04% |
| Feb 27, 2024 | $44.82 | $46.56 | +3.88% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Ovintiv Inc. (OVV) report earnings?
Ovintiv Inc. (OVV) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Ovintiv Inc. (OVV) earnings time?
Ovintiv Inc. (OVV) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OVV EPS forecast?
OVV EPS forecast for the fiscal quarter 2024 (Q4) is 1.08.
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