Ovintiv Q3 net earnings $507M, production beats high-end guidance; raises full-year outlook

Ovintiv Inc.

2024-Q3 EPS reported $4.41 revenue$6,964,000,000

Net earnings $507M ($1.92 diluted EPS); Non-GAAP cash flow $978M, free cash flow $440M after $538M capex.
Production 593 MBOE/d above high-end guidance; oil/condensate 212 Mbbls/d, gas 1,725 MMcf/d.
Reduced debt $210M to $5.88B; leverage 1.2x Debt/Adjusted EBITDA; $150M legacy disposition proceeds expected Q4 for debt repayment.
Raised FY2024 production guidance to 583-587 MBOE/d; capital guidance narrowed to $2.275-2.325B (midpoint unchanged).
Declared $0.30/share dividend payable Dec 31, 2024; Q3 returned $240M via dividends and buybacks.

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