Ovintiv posts Q1 net earnings $338M, raises full-year production guidance, FCF outlook to $1.9B

Ovintiv Inc.

2024-Q1 EPS reported $1.24 revenue$2,352,000,000

Net earnings $338M ($1.24 diluted EPS); Non-GAAP Cash Flow $1,035M; Free Cash Flow $444M.
Production 574 MBOE/d at high-end of guidance; oil & condensate 211 Mbbls/d.
Returned $328M to shareholders via $248M buybacks and $80M base dividend.
Raised full-year production guidance to 560-575 MBOE/d; capital unchanged at $2.2-2.4B; FCF outlook increased to ~$1.9B.
Declared quarterly dividend $0.30/share, payable June 28 to holders of record June 14.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ovintiv Inc. reported first quarter ended March 31, 2024 results: net income net earnings of $338 million, or $1.24 per diluted share of common stock, EPS $1.24 per diluted share. Guidance raised.

Period: first quarter ended March 31, 2024
Net income: net earnings of $338 million, or $1.24 per diluted share of common stock
EPS: $1.24 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

On May 7, 2024, Ovintiv Inc. (the “Company”) issued a news release announcing its financial and operating results for its first quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000950170-24-054723

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