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Ovintiv

OVV · Energy

Last earnings Jul 23, 2026

Key results

Non-GAAP free cash flowquarter

$392 million

Non-GAAP Free Cash Flow of $392 million after capital expenditures of $521 million &#x2022

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Capexquarter

$521 million

Non-GAAP Free Cash Flow of $392 million after capital expenditures of $521 million &#x2022

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Net incomequarter

$307 million

” Second Quarter 2025 Financial and Operating Results • The Company recorded net earnings of $307 million, or $1.18 per diluted share of common stock, including net gains on risk management in revenues of $87 million, before tax.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Revenuequarter

$87 million

” Second Quarter 2025 Financial and Operating Results • The Company recorded net earnings of $307 million, or $1.18 per diluted share of common stock, including net gains on risk management in revenues of $87 million, before tax.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

• Cash from operating activities was $1,013 million, Non-GAAP Cash Flow was $913 million, and capital investment totaled approximately $521 million, resulting in $392 million of Non-GAAP Free Cash Flow.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Operating marginytd

$ 5,333

Net Debt YTD 2025 Long-Term Debt, Including Current Portion $ 5,333 Less: Cash and cash equivalents 20 Net Debt $ 5,313 Operating Margin/Operating Netback - Product revenues less costs associated with delivering the product to market, including production, mineral and other taxes, transportation and processing and operating expenses.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Operating marginQ2 2025

$ 5,313

Net Debt YTD 2025 Long-Term Debt, Including Current Portion $ 5,333 Less: Cash and cash equivalents 20 Net Debt $ 5,313 Operating Margin/Operating Netback - Product revenues less costs associated with delivering the product to market, including production, mineral and other taxes, transportation and processing and operating expenses.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

AI analysis

Q2 2025 · reported Jul 24, 2025

Based on: Earnings release + parent 8-K — transcript not held

Revenue · Q2 2025
$87M
EX-99 · Jul 24, 2025
Diluted EPS · Q2 2025
$1.18
EX-99 · Jul 24, 2025
Non-GAAP free cash flow · Q2 2025
$392M
EX-99 · Jul 24, 2025
Net income · Q2 2025
$307M
EX-99 · Jul 24, 2025

The quarter in charts

Capex & free cash flow

As stated

0200400600$521MCapex Q$392MFree cash flow Q

EX-99 · Jul 24, 2025 Values as labeled in the release.

Headline figures

MetricQ2 2025Prior qtrYear ago
Non-GAAP free cash flow$392 million——
Capex$521 million——
Net income$307 million——
Revenue$87 million——
Operating margin$ 5,313——

EX-99 · Jul 24, 2025

Guidance · company-stated

Company outlook — Raised

“Strong well performance across our portfolio, the rapid integration of our new Montney assets and enhanced capital efficiency have enabled us to reduce our expected 2025 capital investment and operating costs while increasing our full year production guidance.”

Company outlook — Raised

“1 Guidance The Company issued its third quarter 2025 guidance and increased its full year production guidance while reducing expected capital investment.”

Company outlook — Lowered

“All statements, except for statements of historical fact, that relate to the anticipated future activities, plans, strategies, objectives or expectations of the Company, including second quarter and fiscal year 2025 guidance and expected free cash flow, the expectation of delivering sustainable durable returns to shareholders in future years, plans regarding capital allocation, share buybacks and debt reduction, the ability of the Company to timely achieve its stated environmental, social and governance goals, targets and initiatives, the anticipated timing of bringing wells online, and the ability to achieve targeted per well cost reduction synergies, are forward-looking statements.”

Primary outlook statements conflict; no label forced — evidence preserved.

Next earningsNo verified date on fileNo date is estimated or imported

Margin

Operating margin$ 5,333
Operating margin$ 5,313

Cash flow & capex

Non-GAAP free cash flow$392M
Capex$521M

Capital allocation

Dividend$0.30

3Q 2025E Prior Full Year 2025E Updated Full Year 2025E Total Production (MBOE/d) 610 – 630 595 – 615 600 – 620 Oil & Condensate (Mbbls/d) 202 – 208 202 – 208 205 – 209 NGLs (C2 - C4) (Mbbls/d) 94 – 98 87 – 92 93 – 96 Natural Gas (MMcf/d) 1,875 – 1,925 1,825 – 1,875 1,825 – 1,875 Capital Investment (Millions) $525 – $575 $2,150 – $2,250 $2,125 – $2,175 Returns to Shareholders Ovintiv remains committed to its capital allocation framework, which is expected to return at least 50% of post base dividend Non-GAAP Free Cash Flow to shareholders through buybacks and/or variable dividends.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Please see dial-in details within this release, as well as additional details on the Company's website at www.ovintiv.com under Presentations and Events – Ovintiv

Based on: Earnings release + parent 8-K — transcript not held

Guidance & outlook

Company outlook — Raised (“increasing”)
“Strong well performance across our portfolio, the rapid integration of our new Montney assets and enhanced capital efficiency have enabled us to reduce our expected 2025 capital investment and operating costs while increasing our full year production guidance.”

Company outlook — Raised (“increased”)
“1 Guidance The Company issued its third quarter 2025 guidance and increased its full year production guidance while reducing expected capital investment.”

Company outlook — Lowered (“reduction”)
“All statements, except for statements of historical fact, that relate to the anticipated future activities, plans, strategies, objectives or expectations of the Company, including second quarter and fiscal year 2025 guidance and expected free cash flow, the expectation of delivering sustainable durable returns to shareholders in future years, plans regarding capital allocation, share buybacks and debt reduction, the ability of the Company to timely achieve its stated environmental, social and governance goals, targets and initiatives, the anticipated timing of bringing wells online, and the ability to achieve targeted per well cost reduction synergies, are forward-looking statements.”

Primary outlook statements conflict; no label forced — evidence preserved.

Capital allocation

3Q 2025E Prior Full Year 2025E Updated Full Year 2025E Total Production (MBOE/d) 610 – 630 595 – 615 600 – 620 Oil & Condensate (Mbbls/d) 202 – 208 202 – 208 205 – 209 NGLs (C2 - C4) (Mbbls/d) 94 – 98 87 – 92 93 – 96 Natural Gas (MMcf/d) 1,875 – 1,925 1,825 – 1,875 1,825 – 1,875 Capital Investment (Millions) $525 – $575 $2,150 – $2,250 $2,125 – $2,175 Returns to Shareholders Ovintiv remains committed to its capital allocation framework, which is expected to return at least 50% of post base dividend Non-GAAP Free Cash Flow to shareholders through buybacks and/or variable dividends.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

In the second quarter, the Company purchased for cancellation, approximately 4.1 million shares of common stock for consideration of approximately $146 million and paid dividends of $0.30 per share of common stock totaling $77 million.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Share buybacks in the third quarter are expected to total approximately $158 million.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Ovintiv reported Debt to EBITDA of 1.6 times and Non-GAAP Debt to Adjusted EBITDA of 1.2 times.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Ovintiv maintains a long-term leverage target of 1.0 times Non-GAAP Debt to Adjusted EBITDA at mid-cycle prices, with an associated long-term total debt target of $4.0 billion.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Dividend Declared On July 24, 2025, Ovintiv’s Board declared a quarterly dividend of $0.30 per share of common stock payable on September 29, 2025, to shareholders of record as of September 15, 2025.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Strategy & priorities

All statements, except for statements of historical fact, that relate to the anticipated future activities, plans, strategies, objectives or expectations of the Company, including second quarter and fiscal year 2025 guidance and expected free cash flow, the expectation of delivering sustainable durable returns to shareholders in future years, plans regarding capital allocation, share buybacks and debt reduction, the ability of the Company to timely achieve its stated environmental, social and governance goals, targets and initiatives, the anticipated timing of bringing wells online, and the ability to achieve targeted per well cost reduction synergies, are forward-looking statements.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Risks & headwinds

Readers are cautioned against unduly relying on forward-looking statements which, are based on current expectations and by their nature, involve numerous assumptions that are subject to both known and unknown risks and uncertainties (many of which are beyond our control) that may cause such statements not to occur, or actual results to differ materially and/or adversely from those expressed or implied.

SEC original ↗Ovintiv — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

TotalEnergies (TTE) EnergyYPF (YPF) EnergyCenovus Energy (CVE) EnergySuncor Energy (SU) EnergyCanadian Natural Resources (CNQ) EnergyWoodside Energy (WDS) EnergyCameco (CCJ) EnergyVista Energy, S.A.B. De C.V. (VIST) Energy
Documents

Filings

30 documents

Earnings releases

15 documents

Presentations

0 documents

No presentations for Ovintiv are held in this edition of the library.

Transcripts

0 documents

No transcripts for Ovintiv are held in this edition of the library.

Mentioned by

8 companies

Other tracked companies whose held documents mention Ovintiv by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.