CVE FY 2022 Earnings Report — Cenovus Energy Inc. Revenue & Financial Results | Market Cap Arena

Cenovus Energy Inc.CVE

FY 2022 Earnings

Reported February 16, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$52.4B	—	$35.7B	—	47.0%
Op. Income	$7.6B	—	$2.6B	—	193.8%
Gross Margin	23.9%	—	18.7%	—	5.2pp
Net Margin	9.0%	—	1.2%	—	7.8pp
EPS (Diluted)	$2.34	—	$0.21	—	1003.4%
Free Cash Flow	$5.6B	—	$2.5B	—	127.8%

Revenue Flow

Item	Amount
REVENUE	$52.4B
Cost of Revenue	$39.9B
GROSS PROFIT	$12.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$632M
SG&A Expenses	$632M
Other Expenses	$4.3B
Operating Expenses	$5.0B
Cost & Expenses	$44.9B
OPERATING INCOME	$7.6B
Interest Income	$80M
Interest Expense	$593M
Other Income/Expenses	-$1.2B
INCOME BEFORE TAX	$6.4B
Income Tax Expense	$1.7B
Net Income from Continuing Ops	$4.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$4.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.7B
D&A	$3.4B
EBIT	$7.0B
EBITDA	$10.4B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$52.4B
Cost of Revenue	$39.9B
GROSS PROFIT	$12.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$632M
SG&A Expenses	$632M
Other Expenses	$4.3B
Operating Expenses	$5.0B
Cost & Expenses	$44.9B
OPERATING INCOME	$7.6B
Interest Income	$80M
Interest Expense	$593M
Other Income/Expenses	-$1.2B
INCOME BEFORE TAX	$6.4B
Income Tax Expense	$1.7B
Net Income from Continuing Ops	$4.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$4.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.7B
D&A	$3.4B
EBIT	$7.0B
EBITDA	$10.4B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$4.7B
Depreciation & Amortization	$3.2B
Stock-Based Compensation	$273M
Deferred Income Tax	$469M
Other Non-Cash Items	-$732M
Change in Working Capital	$420M
OPERATING CASH FLOW	$8.3B
Capital Expenditure	-$2.7B
Acquisitions (Net)	$816M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$202M
NET CASH FROM INVESTING	-$1.7B
Net Debt Issuance	-$3.2B
Common Stock Repurchased	-$1.8B
Common Dividends Paid	-$658M
Other Financing Activities	$145M
NET CASH FROM FINANCING	-$5.6B
FREE CASH FLOW	$5.6B
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$3.3B
Short-Term Investments	$0
Net Receivables	$2.2B
Inventory	$3.2B
Other Current Assets	$126M
TOTAL CURRENT ASSETS	$9.1B
PP&E (Net)	$28.5B
Goodwill	$2.1B
Intangible Assets	$14M
Long-Term Investments	$307M
Tax Assets	$399M
Other Non-Current Assets	$367M
TOTAL NON-CURRENT ASSETS	$31.7B
TOTAL ASSETS	$40.8B
Account Payables	$1.7B
Short-Term Debt	$84M
Deferred Revenue	$0
Other Current Liabilities	$357M
TOTAL CURRENT LIABILITIES	$5.9B
Long-Term Debt	$6.4B
Deferred Revenue NC	$33M
Deferred Tax Liabilities	$3.1B
Other Non-Current Liabilities	$3.4B
TOTAL NON-CURRENT LIABILITIES	$14.8B
TOTAL LIABILITIES	$20.7B
Common Stock	$11.9B
Additional Paid-In Capital	$2.0B
Retained Earnings	$4.7B
Treasury Stock	$0
Accum. Other Comp. Income	$1.1B
Other Equity	$134M
TOTAL STOCKHOLDERS' EQUITY	$20.2B
Minority Interest	$10M
TOTAL EQUITY	$20.2B
TOTAL LIABILITIES & EQUITY	$40.8B
Total Debt	$8.5B
Net Debt	$5.2B