Cenovus Energy reports $1.29B Q3 profit, up from $820M a year ago

Andy Cepuch, senior field manager, at the plant — where steam is created, water is processed, and bitumen is diluted and prepared to go for further processing — at the Cenovus Christina Lake oilsands facility southeast of Fort McMurray, Alta., on Wednesday April, 24, 2024. THE CANADIAN PRESS/Amber Bracken

CALGARY — Cenovus Energy Inc. reported a third-quarter profit $1.29 billion, up from $820 million a year ago, as it saw record production.

The company says its profit amounted to 72 cents per diluted share for the quarter ended Sept. 30, up from 42 cents per diluted share a year earlier.

Revenue was $13.20 billion, down from $13.82 billion in the same quarter last year.

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Total upstream production for the quarter was 832,900 barrels of oil equivalent per day, up from 771,300 in the third quarter last year.

Downstream crude throughput totalled 710,700 barrels per day, up from 642,900 a year earlier.

The financial results came a day after a shareholder vote on the company’s proposed takeover of MEG Energy Corp. was delayed another week to Nov. 6 to address a last-minute “regulatory inquiry.”

This report by The Canadian Press was first published Oct. 31, 2025.

Companies in this story: (TSX:CVE)

The Canadian Press