Ovintiv Q2 net earnings $340M; raises full-year production guidance to 570-580 MBOE/d

Ovintiv Inc.

2024-Q2 EPS reported $2.51 revenue$4,640,000,000

Net earnings $340M ($1.27 diluted EPS); Non-GAAP Free Cash Flow $403M after capex of $622M.
Q2 production averaged 594 MBOE/d (above guidance); raised full-year production guidance to 570-580 MBOE/d.
Returned $262M to shareholders via dividends and buybacks; quarterly dividend $0.30/share declared.
Expect 2024 Non-GAAP Free Cash Flow ~$1.9B, >60% YoY increase.

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