Ovintiv's Q3 Earnings Beat Estimates, Revenues Down 12% Y/Y
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Ovintiv reported Q3 earnings that exceeded estimates, although revenues fell by 12% year-over-year. The company projects capital expenditures of $525-$575 million for Q4 2024 and $2.28-$2.33 billion for the full year.
November 19, 2024 | 1:45 pm
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Ovintiv's Q3 earnings surpassed expectations, but the company experienced a 12% decline in revenues year-over-year. The firm has outlined its capital expenditure plans for Q4 2024 and the full year.
While Ovintiv's earnings exceeded expectations, the 12% decline in revenues could be a concern for investors. The detailed capital expenditure plans provide some guidance on future investments, but the mixed signals may result in a neutral short-term impact on the stock price.
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IMPORTANCE 80
RELEVANCE 100