NYSE$OVV
Ovintiv Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Ovintiv's financial performance improved in Q2 2024, driven by strong operational execution and increased production guidance.
Ovintiv reported net earnings of $340 million, cash from operating activities of $1,020 million, and Non-GAAP Free Cash Flow of $403 million. The company raised its full-year production guidance and narrowed its full-year capital guidance range.
- Net earnings were $340 million.
- Cash from operating activities reached $1,020 million.
- Non-GAAP Free Cash Flow was $403 million after capital expenditures of $622 million.
- Full year production guidance range raised to 570 to 580 MBOE/d.
Headline financials
Revenue & EPS history
Ovintiv · Revenue · Quarterly
$2.29B
Forward guidance
Ovintiv issued its third quarter 2024 guidance and raised its full year production guidance while narrowing its full year capital guidance range. Full year production volumes are expected to average 570 to 580 MBOE/d, with full year capital investment of $2.25 billion to $2.35 billion.
Tailwinds
- Full year production volumes are expected to average 570 to 580 MBOE/d.
- Oil & Condensate production is expected to be 207 – 209 Mbbls/d.
- NGLs (C2 - C4) production is expected to be 89 – 91 Mbbls/d.
- Natural Gas production is expected to be 1,660 – 1,690 MMcf/d.
- Full year capital investment of $2.25 billion to $2.35 billion.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
-0.4%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+3.4%
Avg return
30 days after
49%
32 / 65 earnings
Positive
+24.6%
Q4 2015
Best reaction
-21.0%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.1% | +3.7% | +0.2% | |
| Q4 2025 | -0.6% | -0.5% | +20.5% | |
| Q3 2025 | -1.7% | +4.2% | +13.4% | |
| Q2 2025 | -1.1% | -2.1% | +5.1% | |
| Q1 2025 | -2.3% | +10.0% | +10.2% | |
| Q4 2024 | +3.0% | -7.1% | +0.8% | |
| Q3 2024 | +2.9% | +0.0% | -1.8% | |
| Q2 2024 | +2.3% | -8.4% | -3.5% | |
| Q1 2024 | -2.9% | -4.7% | -7.7% | |
| Q4 2023 | +4.1% | +9.6% | +12.9% | |
| Q3 2023 | -5.2% | -5.9% | -13.0% | |
| Q2 2023 | +4.7% | +8.7% | +8.3% | |
| Q1 2023 | -2.2% | -6.0% | +8.7% | |
| Q4 2022 | -6.1% | +8.3% | -8.7% | |
| Q3 2022 | -8.9% | +3.8% | -12.9% | |
| Q2 2022 | -6.1% | -2.5% | +8.5% | |
| Q1 2022 | -21.0% | -18.8% | +10.4% | |
| Q4 2021 | +3.6% | +17.9% | +37.9% | |
| Q3 2021 | -4.3% | -3.4% | -11.5% | |
| Q2 2021 | -7.8% | -9.1% | -9.4% | |
| Q1 2021 | +8.5% | +8.4% | +15.8% | |
| Q4 2020 | -7.7% | +1.8% | +10.3% | |
| Q3 2020 | -1.6% | +4.9% | +49.6% | |
| Q2 2020 | -6.8% | -12.7% | +3.1% | |
| Q1 2020 | +12.6% | +23.7% | +104.1% | |
| Q4 2019 | +6.1% | -20.3% | -84.8% | |
| Q3 2019 | -0.2% | +15.6% | -5.5% | |
| Q2 2019 | +2.1% | -3.2% | +1.1% | |
| Q1 2019 | -5.8% | -4.8% | -22.3% | |
| Q4 2018 | +5.4% | +5.8% | +5.1% | |
| Q3 2018 | -16.5% | -14.9% | -34.4% | |
| Q2 2018 | +5.7% | +3.2% | -1.3% | |
| Q1 2018 | +3.7% | +5.4% | +1.8% | |
| Q4 2017 | -2.1% | -3.4% | -0.8% | |
| Q3 2017 | -0.5% | -3.8% | -7.5% | |
| Q2 2017 | +2.9% | +3.6% | -5.2% | |
| Q1 2017 | +1.8% | +2.8% | -7.9% | |
| Q4 2016 | -3.3% | -4.6% | -16.3% | |
| Q3 2016 | +5.4% | +11.1% | +36.5% | |
| Q2 2016 | +3.4% | +1.0% | +27.2% | |
| Q1 2016 | -15.3% | — | — | |
| Q4 2015 | +24.6% | — | — | |
| Q3 2015 | +9.0% | — | — | |
| Q2 2015 | -13.4% | — | — | |
| Q1 2015 | -1.8% | — | — | |
| Q4 2014 | +0.5% | — | — | |
| Q3 2014 | -6.1% | — | — | |
| Q2 2014 | -0.3% | — | — | |
| Q1 2014 | +1.0% | — | — | |
| Q4 2013 | -0.3% | — | — | |
| Q3 2013 | +0.0% | — | — | |
| Q2 2013 | +0.1% | — | — | |
| Q1 2013 | -2.7% | — | — | |
| Q4 2012 | +0.2% | — | — | |
| Q3 2012 | +3.9% | — | — | |
| Q2 2012 | -1.7% | — | — | |
| Q1 2012 | +0.6% | — | — | |
| Q4 2011 | +3.9% | — | — | |
| Q3 2011 | -5.3% | — | — | |
| Q2 2011 | +1.6% | — | — | |
| Q1 2011 | +0.1% | — | — | |
| Q4 2010 | +3.3% | — | — | |
| Q3 2010 | +4.9% | — | — | |
| Q2 2010 | -0.7% | — | — | |
| Q1 2010 | +3.6% | — | — |
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