President Trump's 25% import tariffs on Mexico and Canada, along with a 10% tariff on China, are making investors cautious about possible negative effects. Canada is especially worrying because it is a major energy supplier to the United States, providing crude oil and natural gas.
CALGARY, Alberta, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (“Cenovus” or the “Company”) (TSX: CVE) (NYSE: CVE) has announced that it will redeem its 4.591% Series 5 Preferred Shares on March 31, 2025. The company will buy back all 8 million outstanding shares at a price of $25.00 each, totaling $200 million, minus any necessary withholdings, mainly using its available cash.
CVE's earnings and revenues for the fourth quarter fell short of expectations due to reduced contributions from important divisions. Both their revenue and profit have declined compared to the same period last year.
CVE is currently inexpensive because of concerns about tariffs, even though they are not certain. The company is expected to generate more free cash this year. CVE has a low valuation at the moment and provides an attractive return for shareholders.
Cenovus Energy had a disappointing quarter, facing challenges like refining problems and rising debt due to negative free cash flow. However, the operations at both the Toledo and Superior refineries have improved, and the startup costs for both have now ended.
Cenovus Energy (CVE) reported quarterly earnings of $0.05 per share, which is lower than the Zacks Consensus Estimate of $0.18 per share. This is a decrease compared to earnings of $0.29 per share from the same period last year.
CALGARY, Alberta, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has released its financial and operational results for the fourth quarter and full year of 2024. The company reported over $2.0 billion in cash from operations, $1.6 billion in adjusted funds flow, and $123 million in free funds flow. Their Upstream sector performed well, producing 816,000 barrels of oil equivalent per day, while the Downstream sector saw an increase in crude throughput to 666,700 barrels per day, achieving a utilization rate of 93%.
To better understand how Cenovus (CVE) might perform in the quarter ending December 2024, look past Wall Street's basic revenue and profit predictions. Instead, focus on the forecasts for some of its important metrics. This will give you a clearer picture of the company's potential performance.
Cenovus (CVE) lacks the necessary factors that could lead to a strong earnings report in its next announcement. Be ready for the main expectations.
At the end of the last trading day, Cenovus Energy (CVE) was priced at $15.50, which represents a 1.97% increase compared to the previous day.