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Cenovus Energy Posts Surge in Q2 Net Earnings YoY, Raises Production Guidance

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Cenovus Energy (CVE.TO) reported second-quarter net earnings of C$2.87 billion, or C$1.53 per share, up from C$851 million, or C$0.45 per share in the year-ago quarter.

Analysts polled by FactSet expected C$1.58, with three analysts reporting.

Revenues were C$20.73 billion, up from C$14.52 billion in the prior-year period.

Analysts expected C$16.87 billion.

Total upstream production was 970.4 thousand barrels of oil equivalent per day, up from 765.9 MBOE/d.

The company raised its total upstream production guidance for 2026 to a range of 970 MBOE/d to 1,010 MBOE/d, an increase of 25 MBOE/d.

Cenovus' board declared a quarterly base dividend of C$0.22 per common share, payable Sept. 29 to shareholders of record as of Sept. 15.

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