$OVV
Ovintiv Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023035227 Filed on July 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $2.649B $2.517B $3.736B
YoY Change -25.36% -32.63% 120.8%
Cost Of Revenue $1.178B $943.0M $1.413B
YoY Change -10.08% -33.26% 47.96%
Gross Profit $1.471B $1.574B $2.323B
YoY Change -34.3% -32.24% 215.2%
Gross Profit Margin 55.53% 62.53% 62.18%
Selling, General & Admin $513.0M $534.0M $524.0M
YoY Change -10.16% 1.91% 1.55%
% of Gross Profit 34.87% 33.93% 22.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $486.0M $419.0M $278.0M
YoY Change 67.01% 50.72% -10.61%
% of Gross Profit 33.04% 26.62% 11.97%
Operating Expenses $2.182B $957.0M $2.220B
YoY Change 0.28% -56.89% 22.45%
Operating Profit $467.0M $617.0M $1.516B
YoY Change -65.99% -59.3% -1352.89%
Interest Expense $98.00M -$100.0M $91.00M
YoY Change 18.07% -209.89% -8.08%
% of Operating Profit 20.99% -16.21% 6.0%
Other Income/Expense, Net $2.000M $6.000M $0.00
YoY Change -33.33% -100.0%
Pretax Income $393.0M $437.0M $1.422B
YoY Change -69.15% -69.27% -793.66%
Income Tax -$13.00M $101.0M $65.00M
% Of Pretax Income -3.31% 23.11% 4.57%
Net Earnings $406.0M $336.0M $1.357B
YoY Change -65.77% -75.24% -761.95%
Net Earnings / Revenue 15.33% 13.35% 36.32%
Basic Earnings Per Share $1.48 $1.35 $5.28
Diluted Earnings Per Share $1.47 $1.34 $5.21
COMMON SHARES
Basic Shares Outstanding 273.9M 244.5M 257.2M
Diluted Shares Outstanding 276.3M 250.8M 260.6M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.000M $52.00M $8.000M
YoY Change -83.33% 550.0% -93.44%
Cash & Equivalents $3.000M $52.00M $8.000M
Short-Term Investments
Other Short-Term Assets $50.00M $167.0M $9.000M
YoY Change 4900.0% 1755.56% 200.0%
Inventory
Prepaid Expenses
Receivables $1.524B $1.253B $1.952B
Other Receivables $4.000M $7.000M $61.00M
Total Short-Term Assets $1.581B $1.479B $2.030B
YoY Change -7.11% -27.14% 40.68%
LONG-TERM ASSETS
Property, Plant & Equipment $14.52B $14.22B $9.194B
YoY Change 60.33% 54.63% 7.72%
Goodwill $2.585B $2.598B $2.617B
YoY Change 0.35% -0.73% -0.98%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.006B $1.225B $1.078B
YoY Change 0.6% 13.64% -5.93%
Total Long-Term Assets $18.32B $18.04B $12.89B
YoY Change 44.56% 39.92% 4.62%
TOTAL ASSETS
Total Short-Term Assets $1.581B $1.479B $2.030B
Total Long-Term Assets $18.32B $18.04B $12.89B
Total Assets $19.90B $19.52B $14.92B
YoY Change 38.44% 30.8% 8.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.420B $2.443B $2.463B
YoY Change 9.21% -0.81% 31.01%
Accrued Expenses $81.00M $85.00M $73.00M
YoY Change 17.39% 16.44% -1.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $709.0M $680.0M $215.0M
YoY Change 61.14% 216.28% -58.49%
Total Short-Term Liabilities $3.543B $3.310B $3.991B
YoY Change 7.07% -17.06% 18.57%
LONG-TERM LIABILITIES
Long-Term Debt $5.454B $5.477B $3.687B
YoY Change 71.62% 48.55% -23.12%
Other Long-Term Liabilities $124.0M $1.232B $154.0M
YoY Change -18.95% 700.0% -25.24%
Total Long-Term Liabilities $5.578B $6.709B $3.841B
YoY Change 67.46% 74.67% -23.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.543B $3.310B $3.991B
Total Long-Term Liabilities $5.578B $6.709B $3.841B
Total Liabilities $10.35B $10.20B $9.102B
YoY Change 32.26% 12.1% -7.43%
SHAREHOLDERS EQUITY
Retained Earnings -$77.00M -$401.0M -$3.479B
YoY Change -96.73% -88.47% -39.16%
Common Stock $8.647B $8.674B $8.242B
YoY Change 8.88% 5.24% -3.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.552B $9.316B $5.821B
YoY Change
Total Liabilities & Shareholders Equity $19.90B $19.52B $14.92B
YoY Change 38.44% 30.8% 8.4%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $406.0M $336.0M $1.357B
YoY Change -65.77% -75.24% -761.95%
Depreciation, Depletion And Amortization $486.0M $419.0M $278.0M
YoY Change 67.01% 50.72% -10.61%
Cash From Operating Activities $906.0M $831.0M $1.344B
YoY Change -5.82% -38.17% 79.2%
INVESTING ACTIVITIES
Capital Expenditures $834.0M $640.0M $511.0M
YoY Change 63.21% 25.24% 33.42%
Acquisitions $0.00 $3.225B $0.00
YoY Change
Other Investing Activities -$27.00M -$2.368B $0.00
YoY Change -20.59% -100.0%
Cash From Investing Activities -$854.0M -$3.008B -$514.0M
YoY Change 223.48% 485.21% -190.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $135.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -101.0M 2.206B -1.089B
YoY Change -85.34% -302.57% -9.78%
NET CHANGE
Cash From Operating Activities 906.0M 831.0M 1.344B
Cash From Investing Activities -854.0M -3.008B -514.0M
Cash From Financing Activities -101.0M 2.206B -1.089B
Net Change In Cash -49.00M 29.00M -263.0M
YoY Change -590.0% -111.03% -332.74%
FREE CASH FLOW
Cash From Operating Activities $906.0M $831.0M $1.344B
Capital Expenditures $834.0M $640.0M $511.0M
Free Cash Flow $72.00M $191.0M $833.0M
YoY Change -84.04% -77.07% 126.98%

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