Ovintiv Inc. (OVV) Tops Q1 EPS by 38c
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Ovintiv Reports First Quarter 2021 Financial and Operating Results
April 28, 2021 5:15 PM EDTStrong start to 2021 accelerates debt paydown
Highlights:
First quarter 2021 net earnings of $309 million ($1.16 per share diluted), cash from operating activities of $827 million and non-GAAP cash flow of $890 million Generated $540 million of non-GAAP free cash flow in the quarter and reduced total debt by $467 million to $6.4 billion Exceeded divestiture target with more than $1.1 billion in announced asset sales; well ahead of year-end 2022 target; previously announced Duvernay asset sale closed today Leveraged dynamic operational execution, multi-basin optionality and strong realized prices for products... More