Ovintiv Q1 net loss $159M on $557M impairment; closed Montney and Uinta deals

Ovintiv Inc.

2025-Q1 EPS reported -$0.61 revenue$2,377,000,000

Q1 net loss of $159M ($0.61/diluted share) includes non-cash ceiling test impairment of $557M after tax.
Non-GAAP Cash Flow $1,004M, capex $617M, Non-GAAP Free Cash Flow $387M; production 588 MBOE/d above guidance mid-point.
Closed Montney acquisition for ~$2.3B and Uinta divestiture for ~$1.9B, both after preliminary adjustments.
Board declared $0.30/share quarterly dividend, payable June 30, 2025, to holders of record June 13, 2025.
Full-year 2025 guidance reaffirmed: production 595-615 MBOE/d, capital $2.15-2.25B; share buybacks resumed in Q2.

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