Cenovus Energy Q3 2024 GAAP EPS C$0.42 Misses C$0.49 Estimate, Sales C$14.200B Beat C$13.592B Estimate
Portfolio Pulse from Benzinga Newsdesk
Cenovus Energy reported Q3 2024 earnings per share of C$0.42, missing the analyst estimate of C$0.49, but sales of C$14.2 billion exceeded expectations of C$13.592 billion. EPS decreased by 56.7% year-over-year, while sales increased by 30.68%.
October 31, 2024 | 10:06 am
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Cenovus Energy's Q3 2024 earnings per share of C$0.42 missed analyst expectations, marking a significant 56.7% decline from the previous year. However, sales of C$14.2 billion surpassed estimates, showing a 30.68% increase year-over-year.
The miss on EPS is likely to negatively impact the stock price in the short term, as it indicates lower profitability than expected. However, the beat on sales and significant year-over-year growth may mitigate some negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100