Cenovus announces third-quarter 2026 results
Cenovus Energy reported Q3 2026 results with adjusted funds flow of approximately $5.0 billion and free funds flow of $3.6 billion, and net earnings rose to $3.4 billion from $2.9 billion in Q2. The company achieved record upstream production of 1,024 MBOE/d -- crossing one million BOE per day for the first time -- with records at Foster Creek, Christina Lake and Sunrise, while net debt fell $2.4 billion to $3.0 billion. Cenovus returned $1.9 billion to shareholders in the quarter and plans a new NCIB for up to ~126.5 million shares (~10% of public float), alongside a $0.22/share quarterly dividend.
Key figures
- Eps
- 1.83
- Revenue
- $16.0 billion
- Revenue Yoy
- 0
- Deal Value Usd
- 5700000000
- Net debt
- $3.0 billion
- Net earnings
- $3.4 billion
- Free funds flow
- $3.6 billion
- Adjusted funds flow
- $5.0 billion
- Shareholder returns
- $1.9 billion ($1.5B buybacks + $403M dividends)
- Upstream production
- 1,024 MBOE/d (record)
- Oil sands production
- 833 MBOE/d (record)
- Total operating margin
- $6.3 billion
- Oil sands operating costs
- $10.23/bbl
- Downstream crude throughput
- 437 Mbbls/d
- Downstream operating margin
- $1.8 billion
- Us refining adjusted market capture
- 88%
AI analysis
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