$OVV
Ovintiv Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023019797 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $2.517B $2.551B $1.967B
YoY Change -32.63% 29.69% 7.02%
Cost Of Revenue $943.0M $991.0M $1.348B
YoY Change -33.26% -26.48% 64.59%
Gross Profit $1.574B $1.560B $619.0M
YoY Change -32.24% 152.02% -39.25%
Gross Profit Margin 62.53% 61.15% 31.47%
Selling, General & Admin $534.0M $507.0M $551.0M
YoY Change 1.91% -7.99% 8.04%
% of Gross Profit 33.93% 32.5% 89.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $419.0M $364.0M $264.0M
YoY Change 50.72% 37.88% -14.29%
% of Gross Profit 26.62% 23.33% 42.65%
Operating Expenses $957.0M $1.873B $2.167B
YoY Change -56.89% -13.57% 31.89%
Operating Profit $617.0M $678.0M -$200.0M
YoY Change -59.3% -439.0% -202.56%
Interest Expense -$100.0M $71.00M $74.00M
YoY Change -209.89% -4.05% -14.94%
% of Operating Profit -16.21% 10.47%
Other Income/Expense, Net $6.000M $3.000M $27.00M
YoY Change -88.89% 50.0%
Pretax Income $437.0M $613.0M -$246.0M
YoY Change -69.27% -349.19% -284.96%
Income Tax $101.0M $126.0M -$5.000M
% Of Pretax Income 23.11% 20.55%
Net Earnings $336.0M $487.0M -$241.0M
YoY Change -75.24% -302.07% -177.99%
Net Earnings / Revenue 13.35% 19.09% -12.25%
Basic Earnings Per Share $1.35 $1.99 -$0.94
Diluted Earnings Per Share $1.34 $1.97 -$0.94
COMMON SHARES
Basic Shares Outstanding 244.5M 243.6M 257.4M
Diluted Shares Outstanding 250.8M 247.7M 257.4M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.00M $26.00M $271.0M
YoY Change 550.0% -90.41% 2911.11%
Cash & Equivalents $52.00M $26.00M $271.0M
Short-Term Investments
Other Short-Term Assets $167.0M $89.00M $2.000M
YoY Change 1755.56% 4350.0% -81.82%
Inventory
Prepaid Expenses
Receivables $1.253B $1.277B $1.797B
Other Receivables $7.000M $3.000M $98.00M
Total Short-Term Assets $1.479B $1.395B $2.168B
YoY Change -27.14% -35.65% 74.98%
LONG-TERM ASSETS
Property, Plant & Equipment $14.22B $9.911B $8.983B
YoY Change 54.63% 10.33% -5.58%
Goodwill $2.598B $2.584B $2.638B
YoY Change -0.73% -2.05% 0.19%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.225B $1.009B $1.111B
YoY Change 13.64% -9.18% -2.8%
Total Long-Term Assets $18.04B $13.73B $12.73B
YoY Change 39.92% 7.82% -4.23%
TOTAL ASSETS
Total Short-Term Assets $1.479B $1.395B $2.168B
Total Long-Term Assets $18.04B $13.73B $12.73B
Total Assets $19.52B $15.12B $14.90B
YoY Change 30.8% 1.5% 2.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.443B $1.872B $2.215B
YoY Change -0.81% -15.49% 18.58%
Accrued Expenses $85.00M $88.00M $63.00M
YoY Change 16.44% 39.68% -14.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $680.0M $580.0M $0.00
YoY Change 216.28% -100.0%
Total Short-Term Liabilities $3.310B $2.632B $3.983B
YoY Change -17.06% -33.92% 15.08%
LONG-TERM LIABILITIES
Long-Term Debt $5.477B $3.176B $4.775B
YoY Change 48.55% -33.49% -9.91%
Other Long-Term Liabilities $1.232B $116.0M $170.0M
YoY Change 700.0% -31.76% -13.27%
Total Long-Term Liabilities $6.709B $3.292B $4.945B
YoY Change 74.67% -33.43% -10.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.310B $2.632B $3.983B
Total Long-Term Liabilities $6.709B $3.292B $4.945B
Total Liabilities $10.20B $7.229B $10.22B
YoY Change 12.1% -29.24% -1.77%
SHAREHOLDERS EQUITY
Retained Earnings -$401.0M -$655.0M
YoY Change -88.47%
Common Stock $8.674B $7.558B
YoY Change 5.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.316B $7.894B $4.684B
YoY Change
Total Liabilities & Shareholders Equity $19.52B $15.12B $14.90B
YoY Change 30.8% 1.5% 2.52%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $336.0M $487.0M -$241.0M
YoY Change -75.24% -302.07% -177.99%
Depreciation, Depletion And Amortization $419.0M $364.0M $264.0M
YoY Change 50.72% 37.88% -14.29%
Cash From Operating Activities $831.0M $1.068B $685.0M
YoY Change -38.17% 55.91% -17.17%
INVESTING ACTIVITIES
Capital Expenditures $640.0M $610.0M $451.0M
YoY Change 25.24% 35.25% 28.86%
Acquisitions $3.225B $0.00
YoY Change
Other Investing Activities -$2.368B $66.00M $34.00M
YoY Change 94.12% -221.43%
Cash From Investing Activities -$3.008B -$863.0M -$417.0M
YoY Change 485.21% 106.95% 29.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $71.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.206B -184.0M -193.0M
YoY Change -302.57% -4.66% -61.93%
NET CHANGE
Cash From Operating Activities 831.0M 1.068B 685.0M
Cash From Investing Activities -3.008B -863.0M -417.0M
Cash From Financing Activities 2.206B -184.0M -193.0M
Net Change In Cash 29.00M 21.00M 76.00M
YoY Change -111.03% -72.37% -7700.0%
FREE CASH FLOW
Cash From Operating Activities $831.0M $1.068B $685.0M
Capital Expenditures $640.0M $610.0M $451.0M
Free Cash Flow $191.0M $458.0M $234.0M
YoY Change -77.07% 95.73% -50.94%

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