Cenovus Energy gains after quarterly profit beat

ReutersMay 8, 2025 4:18 PM

Shares of Canadian oil and gas producer Cenovus Energy CVE.TO rise 8.8% to C$17.74

Company beats Q1 profit estimates on the back of higher output and improved refining margins

CVE reports Q1 adj. profit of C$0.47 ($0.3377) per share, vs estimates of C$0.37 per share, according to data compiled by LSEG

CVE reports Q1 upstream production of 818,900 barrels of oil equivalent per day (boepd), up from 800,900 boepd last year

Q1 downstream throughput (amount of product moved during the period) rose to 665,400 bpd, compared with 655,200 bpd last year

Including sessions moves, stock down 19.5% YTD

($1 = 1.3918 Canadian dollars)

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