Overview

• Cenovus Energy reported a Q1 2025 profit of $859 million, down from $1.18 billion the previous year, but exceeded analyst expectations.
• The company raised its quarterly dividend to 20 cents per share, up from 18 cents, and returned $333 million to shareholders through dividends and buybacks.
• Revenue for the quarter increased slightly to $13.30 billion, while total upstream production rose to 818,900 barrels of oil equivalent per day.
• Maintenance at oilsands plants and U.S. refineries is on track to conclude by mid-2025, with normal production levels expected in the second half of the year.
• Cenovus reassured investors of its ability to sustain operations and payouts even if West Texas Intermediate prices drop to $45 per barrel.