Ovintiv reports record 2022 free cash flow of $2.3B, reduces debt by $1.2B, increases dividend 25%

Ovintiv Inc.

2022-FY EPS reported $14.08 revenue$12,464,000,000

Full-year 2022 net earnings $3.6B ($14.08 diluted EPS); Non-GAAP Free Cash Flow $2.3B after capex $1.8B.
Reduced long-term debt by ~$1.2B to $3.57B; Debt to Adjusted EBITDA ratio improved to 0.8x from 1.5x.
Returned $958M to shareholders via $719M buybacks and $239M dividends; quarterly dividend raised 25% to $0.25/share.
Added ~450 net premium drilling locations for $286M, replacing ~200% of 2022 wells drilled; 2023 capex guided $2.15-$2.35B.
Q4 production 524 MBOE/d; full-year 2022 production 510 MBOE/d, in line with guidance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ovintiv Inc. reported the full year ended December 31, 2022 results: net income Full year net earnings of $3.6 billion, or $14.08 per diluted share of common stock., EPS $14.08 per diluted share. Guidance initiated.

Period: the full year ended December 31, 2022
Net income: Full year net earnings of $3.6 billion, or $14.08 per diluted share of common stock.
EPS: $14.08 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Full year net earnings of $3.6 billion, or $14.08 per diluted share of common stock.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ovintiv Inc. reported the fourth quarter ended December 31, 2022 results: net income Fourth quarter net earnings totaled $1.3 billion, or $5.30 per diluted share of common stock., EPS $5.30 per diluted share. Guidance initiated.

Period: the fourth quarter ended December 31, 2022
Net income: Fourth quarter net earnings totaled $1.3 billion, or $5.30 per diluted share of common stock.
EPS: $5.30 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Fourth quarter net earnings totaled $1.3 billion, or $5.30 per diluted share of common stock.

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-23-050970

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