Cenovus Energy reports results on Wednesday 4 November, before the market opens. The analysts' average EPS estimate for the quarter is $1.08, and the report will test whether margins remain stable while revenue continues to fall. Revenue over the twelve months to Q4 2025 was $35.6 billion, which fell 10.2% on the year before.
Source: reported quarterly EPS and aggregated third-party estimates. Historical surprises are context, not a forecast.
View chart data
| Period | Reported EPS | Analysts' estimate |
|---|---|---|
| Sep '25 | $0.55 | $0.34 |
| Dec '25 | $0.36 | $0.27 |
| Mar '26 | $0.65 | $0.55 |
| Jun '26 | $1.14 | $1.16 |
What analysts expect from Cenovus Energy
The analysts' average EPS estimate for the quarter is $1.08, in a range from $1.05 to $1.12, while the average revenue estimate is $16.6 billion. For the full year, the analysts' average EPS estimate of $3.92 would be up 160.7% on last year, a figure based on just 2 analysts. That estimate has risen 29.8% over the past 90 days. All 16 of the analysts' recommendations are positive; none are neutral or negative.
Earnings surprise model
Our model estimates EPS could land above the analysts' average estimate by 12.6%. The estimated chance of an EPS beat is 62.5%, based on the last 4 quarters. The model shrinks the median recent surprise toward zero and uses a neutral prior for beat frequency; this small sample is a reference estimate, not company guidance.
Cenovus Energy's record against estimates
The company reported EPS above the analysts' average estimate in 3 of the last 4 quarters. Last quarter, EPS of $1.14 came in below the estimate of $1.16 by 1.3%.
The decline in sales is deepening
Revenue growth is decelerating: the rate was down 12.7 percentage points on the quarter earlier.
Net income over the twelve months was $2.8 billion, which rose 22.6% on the year before. With revenue down and income up, the trailing net margin stands at 7.9%.
Operating cash flow over the twelve months was $5.9 billion, down 12.6% on the year before, while the average diluted share count fell 2.3% over the year.
Today's twelve-month revenue growth rate of −10.2% is higher than 22% of the company's own past quarterly readings, which have ranged from −34.8% to 266.3%.
Questions this report will answer
The report will show whether the slowdown in revenue growth continues, whether results land above or below the analysts' expectations set out above, and whether margins remain at the trailing levels reported.
