Cenovus Energy reports 1st-quarter loss, misses expectations

CALGARY – CALGARY, Alberta (AP) _ Cenovus Energy Inc. (CVE) on Wednesday reported a loss of $86 million in its first quarter.

The Calgary, Alberta-based company said it had a loss of 10 cents per share. Losses, adjusted for non-recurring gains, were 36 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.

The oil company posted revenue of $1.64 billion in the period.

Cenovus shares have risen 21 per cent since the beginning of the year. The stock has declined 21 per cent in the last 12 months.


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Keywords: Cenovus Energy, Earnings Report