$OVV
Ovintiv Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024054736 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $2.288B $2.352B $2.551B
YoY Change -9.1% -7.8% 29.69%
Cost Of Revenue $659.0M $766.0M $991.0M
YoY Change -30.12% -22.7% -26.48%
Gross Profit $1.629B $1.586B $1.560B
YoY Change 3.49% 1.67% 152.02%
Gross Profit Margin 71.2% 67.43% 61.15%
Selling, General & Admin $489.0M $521.0M $507.0M
YoY Change -8.43% 2.76% -7.99%
% of Gross Profit 30.02% 32.85% 32.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $580.0M $566.0M $364.0M
YoY Change 38.42% 55.49% 37.88%
% of Gross Profit 35.6% 35.69% 23.33%
Operating Expenses $1.732B $1.858B $1.873B
YoY Change 80.98% -0.8% -13.57%
Operating Profit $556.0M $494.0M $678.0M
YoY Change -9.89% -27.14% -439.0%
Interest Expense $105.0M $98.00M $71.00M
YoY Change -205.0% 38.03% -4.05%
% of Operating Profit 18.88% 19.84% 10.47%
Other Income/Expense, Net $5.000M $4.000M $3.000M
YoY Change -16.67% 33.33% -88.89%
Pretax Income $466.0M $428.0M $613.0M
YoY Change 6.64% -30.18% -349.19%
Income Tax $126.0M $90.00M $126.0M
% Of Pretax Income 27.04% 21.03% 20.55%
Net Earnings $340.0M $338.0M $487.0M
YoY Change 1.19% -30.6% -302.07%
Net Earnings / Revenue 14.86% 14.37% 19.09%
Basic Earnings Per Share $1.28 $1.25 $1.99
Diluted Earnings Per Share $1.27 $1.24 $1.97
COMMON SHARES
Basic Shares Outstanding 267.0M 269.5M 243.6M
Diluted Shares Outstanding 268.1M 272.3M 247.7M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.000M $5.000M $26.00M
YoY Change -84.62% -80.77% -90.41%
Cash & Equivalents $8.000M $5.000M $26.00M
Short-Term Investments
Other Short-Term Assets $117.0M $146.0M $89.00M
YoY Change -29.94% 64.04% 4350.0%
Inventory
Prepaid Expenses
Receivables $1.208B $1.270B $1.277B
Other Receivables $67.00M $31.00M $3.000M
Total Short-Term Assets $1.400B $1.452B $1.395B
YoY Change -5.34% 4.09% -35.65%
LONG-TERM ASSETS
Property, Plant & Equipment $14.84B $14.81B $9.911B
YoY Change 4.41% 49.41% 10.33%
Goodwill $2.577B $2.583B $2.584B
YoY Change -0.81% -0.04% -2.05%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $978.0M $991.0M $1.009B
YoY Change -20.16% -1.78% -9.18%
Total Long-Term Assets $18.41B $18.38B $13.73B
YoY Change 2.05% 33.9% 7.82%
TOTAL ASSETS
Total Short-Term Assets $1.400B $1.452B $1.395B
Total Long-Term Assets $18.41B $18.38B $13.73B
Total Assets $19.81B $19.83B $15.12B
YoY Change 1.49% 31.15% 1.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.872B $1.920B $1.872B
YoY Change -23.37% 2.56% -15.49%
Accrued Expenses $85.00M $78.00M $88.00M
YoY Change 0.0% -11.36% 39.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.234B $745.0M $580.0M
YoY Change 81.47% 28.45%
Total Short-Term Liabilities $3.200B $2.783B $2.632B
YoY Change -3.32% 5.74% -33.92%
LONG-TERM LIABILITIES
Long-Term Debt $4.853B $5.453B $3.176B
YoY Change -11.39% 71.69% -33.49%
Other Long-Term Liabilities $141.0M $128.0M $116.0M
YoY Change -88.56% 10.34% -31.76%
Total Long-Term Liabilities $4.994B $5.581B $3.292B
YoY Change -25.56% 69.53% -33.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.200B $2.783B $2.632B
Total Long-Term Liabilities $4.994B $5.581B $3.292B
Total Liabilities $9.481B $9.572B $7.229B
YoY Change -7.08% 32.41% -29.24%
SHAREHOLDERS EQUITY
Retained Earnings $1.215B $955.0M -$655.0M
YoY Change -402.99% -245.8%
Common Stock $8.173B $8.334B $7.558B
YoY Change -5.78% 10.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.33B $10.26B $7.894B
YoY Change
Total Liabilities & Shareholders Equity $19.81B $19.83B $15.12B
YoY Change 1.49% 31.15% 1.5%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $340.0M $338.0M $487.0M
YoY Change 1.19% -30.6% -302.07%
Depreciation, Depletion And Amortization $580.0M $566.0M $364.0M
YoY Change 38.42% 55.49% 37.88%
Cash From Operating Activities $1.020B $659.0M $1.068B
YoY Change 22.74% -38.3% 55.91%
INVESTING ACTIVITIES
Capital Expenditures $622.0M $591.0M $610.0M
YoY Change -2.81% -3.11% 35.25%
Acquisitions $0.00 -$12.00M $0.00
YoY Change -100.0%
Other Investing Activities $16.00M -$6.000M $66.00M
YoY Change -100.68% -109.09% 94.12%
Cash From Investing Activities -$641.0M -$761.0M -$863.0M
YoY Change -78.69% -11.82% 106.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -376.0M 102.0M -184.0M
YoY Change -117.04% -155.43% -4.66%
NET CHANGE
Cash From Operating Activities 1.020B 659.0M 1.068B
Cash From Investing Activities -641.0M -761.0M -863.0M
Cash From Financing Activities -376.0M 102.0M -184.0M
Net Change In Cash 3.000M 2.000M 21.00M
YoY Change -89.66% -90.48% -72.37%
FREE CASH FLOW
Cash From Operating Activities $1.020B $659.0M $1.068B
Capital Expenditures $622.0M $591.0M $610.0M
Free Cash Flow $398.0M $68.00M $458.0M
YoY Change 108.38% -85.15% 95.73%

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