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Cenovus: 4Q Earnings Snapshot

·1-min read

CALGARY, Alberta (AP) _ Cenovus Energy Inc. (CVE) on Tuesday reported a fourth-quarter loss of $117.4 million, after reporting a profit in the same period a year earlier.

The Calgary, Alberta-based company said it had a loss of 10 cents per share. Losses, adjusted for non-recurring gains, came to 35 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 6 cents per share.

The oil company posted revenue of $2.74 billion in the period.

For the year, the company reported a loss of $1.78 billion, or $1.45 per share, swinging to a loss in the period. Revenue was reported as $10.15 billion.

Cenovus shares have increased 7% since the beginning of the year. The stock has declined 29% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVE at https://www.zacks.com/ap/CVE