Cenovus Energy Inc. said its second-quarter normalized net income was 14 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 10 cents per share.
EPS decreased 79.5% year over year from 66 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$112.5 million, a decrease of 77.6% from C$502.5 million in the year-earlier period.
The normalized profit margin dropped to 3.0% from 9.3% in the year-earlier period.
Total revenue declined 31.3% year over year to C$3.73 billion from C$5.42 billion, and total operating expenses decreased 25.2% on an annual basis to C$3.56 billion from C$4.76 billion.
Reported net income decreased 79.8% on an annual basis to C$124.3 million, or 15 cents per share, from C$614.0 million, or 81 cents per share.
