Cenovus Energy Q4 2023 GAAP EPS C$0.39 Misses C$0.48 Estimate, Sales C$13.10B Beat C$12.85B Estimate
Portfolio Pulse from Benzinga Newsdesk
Cenovus Energy (NYSE:CVE) reported Q4 2023 earnings of C$0.39 per share, missing the consensus estimate of $0.48 by 18.75%. However, their quarterly sales of C$13.10 billion exceeded the estimate of $12.85 billion by 1.98%, marking a 24.79% increase from the same period last year.
February 15, 2024 | 11:02 am
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Cenovus Energy reported lower-than-expected Q4 2023 earnings but surpassed sales estimates, showing significant year-over-year growth.
The earnings miss may concern some investors, potentially putting downward pressure on the stock. However, the significant sales beat and year-over-year growth could offset concerns, suggesting a neutral short-term impact. The mixed results present a complex picture, where the sales growth may reassure investors about the company's revenue-generating capability despite the earnings miss.
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