CVE FY 2019 Earnings Report — Cenovus Energy Inc. Revenue & Financial Results | Market Cap Arena

Cenovus Energy Inc.CVE

FY 2019 Earnings

Reported February 12, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$15.0B	—	$15.6B	—	-4.0%
Op. Income	$3.0B	—	-$907M	—	434.4%
Gross Margin	21.8%	—	19.1%	—	2.7pp
Net Margin	10.7%	—	-12.5%	—	23.2pp
EPS (Diluted)	$1.30	—	$-1.59	—	182.0%
Free Cash Flow	$1.5B	—	$568M	—	170.5%

Revenue Flow

Item	Amount
REVENUE	$15.0B
Cost of Revenue	$11.7B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$242M
SG&A Expenses	$242M
Other Expenses	$0
Operating Expenses	$242M
Cost & Expenses	$12.0B
OPERATING INCOME	$3.0B
Interest Income	$7M
Interest Expense	$255M
Other Income/Expenses	-$2.0B
INCOME BEFORE TAX	$1.0B
Income Tax Expense	-$582M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$1.7B
EBIT	$1.2B
EBITDA	$2.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$15.0B
Cost of Revenue	$11.7B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$242M
SG&A Expenses	$242M
Other Expenses	$0
Operating Expenses	$242M
Cost & Expenses	$12.0B
OPERATING INCOME	$3.0B
Interest Income	$7M
Interest Expense	$255M
Other Income/Expenses	-$2.0B
INCOME BEFORE TAX	$1.0B
Income Tax Expense	-$582M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$1.7B
EBIT	$1.2B
EBITDA	$2.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$1.6B
Stock-Based Compensation	$0
Deferred Income Tax	-$595M
Other Non-Cash Items	$94M
Change in Working Capital	-$321M
OPERATING CASH FLOW	$2.4B
Capital Expenditure	-$865M
Acquisitions (Net)	$730.8K
Purchases of Investments	-$97M
Sales/Maturities of Investments	$0
Other Investing Activities	-$86M
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	-$1.6B
Common Stock Repurchased	$0
Common Dividends Paid	-$190M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$1.8B
FREE CASH FLOW	$1.5B
Net Change in Cash	-$435M

Balance Sheet

Item	Amount
Cash & Equivalents	$136M
Short-Term Investments	$0
Net Receivables	$1.1B
Inventory	$1.1B
Other Current Assets	$45M
TOTAL CURRENT ASSETS	$2.4B
PP&E (Net)	$21.9B
Goodwill	$1.7B
Intangible Assets	$74M
Long-Term Investments	$38M
Tax Assets	$0
Other Non-Current Assets	$42M
TOTAL NON-CURRENT ASSETS	$23.7B
TOTAL ASSETS	$26.1B
Account Payables	$697M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$129M
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$4.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$4.1B
TOTAL NON-CURRENT LIABILITIES	$10.2B
TOTAL LIABILITIES	$12.1B
Common Stock	$8.1B
Additional Paid-In Capital	$3.2B
Retained Earnings	$2.2B
Treasury Stock	$0
Accum. Other Comp. Income	$604M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.0B
Minority Interest	$0
TOTAL EQUITY	$14.0B
TOTAL LIABILITIES & EQUITY	$26.1B
Total Debt	$6.3B
Net Debt	$6.2B