NYSE$OVV
Ovintiv Inc · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Ovintiv reported Q4 2025 net earnings of $946M, or $3.70 diluted EPS, on production of 623 MBOE/d.
Ovintiv earned Q4 net income of $946M ($3.70 per diluted share), including ceiling-test impairments of $38M after tax. Production averaged 623 MBOE/d with oil/condensate at 209 Mbbls/d. Non-GAAP free cash flow was $508M in Q4 and $1.6B for FY2025; the company returned over $600M to shareholders via dividends and buybacks. Management introduced a 2026 framework to return at least 75% of non-GAAP FCF through dividends and repurchases, with capex of $2.25–$2.35B targeting 620–645 MBOE/d production.
- Q4 net earnings $946M; diluted EPS $3.70.
- Q4 production 623 MBOE/d; non-GAAP FCF $508M.
- Closed NuVista acquisition; Anadarko sale for $3.0B announced.
- 2026 shareholder return framework at least 75% of non-GAAP FCF.
Headline financials
Revenue & EPS history
Ovintiv · Revenue · Quarterly
$1.92B
Forward guidance
FY2026 capex $2.25–$2.35B; production 620–645 MBOE/d; oil 205–212 Mbbls/d; returns at least 75% of non-GAAP FCF.
Tailwinds
- Portfolio transformation with NuVista integration and Anadarko divestiture.
- Share buybacks expected to commence immediately under new framework.
- Proved reserves replacement 150% excluding M&A.
Headwinds
- Ceiling-test and commodity price sensitivity.
- Anadarko sale timing assumed April 1, 2026.
- Integration execution risk on NuVista acquisition.
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 Q4 2025
-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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