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Cenovus Energy (Cenovus Energy) Net Income : $3,048 Mil (TTM As of Dec. 2023)


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What is Cenovus Energy Net Income?

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax. Cenovus Energy's Net Income for the three months ended in Dec. 2023 was $554 Mil. Its Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was $3,048 Mil.

Net Income is linked to the most popular Earnings per Share (Diluted) number. Cenovus Energy's Earnings per Share (Diluted) for the three months ended in Dec. 2023 was $0.29.


Cenovus Energy Net Income Historical Data

The historical data trend for Cenovus Energy's Net Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cenovus Energy Net Income Chart

Cenovus Energy Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,666.03 -1,857.29 458.59 4,747.88 3,062.76

Cenovus Energy Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Net Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 577.11 464.81 651.81 1,377.58 553.82

Cenovus Energy Net Income Calculation

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax.

Net Income
= Revenue - Cost of Goods Sold - Selling, General, & Admin. Expense - Research & Development - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= EBITDA - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Operating Income - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Pre-Tax Income - Tax Expense + Others

Cenovus Energy's Net Income for the fiscal year that ended in Dec. 2023 is calculated as

Net Income(A: Dec. 2023 )
= Pre-Tax Income + Tax Provision + Net Income (Discontinued Operations) + Others
=3756.708+-693.948+0+0.00099999999974898
=3,063

Cenovus Energy's Net Income for the quarter that ended in Dec. 2023 is calculated as

Net Income(Q: Dec. 2023 )
= Pre-Tax Income + Tax Provision + Net Income (Discontinued Operations) + Others
=725.999+-172.182+0+-0.00099999999997635
=554

Net Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $3,048 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Cenovus Energy  (NYSE:CVE) Net Income Explanation

Net Income is the most widely cited number in reporting a company's profitability. It is linked to the most popular earnings-per-share (EPS) number through:

Cenovus Energy's Earnings per Share (Diluted) (EPS) for the quarter that ended in Dec. 2023 is calculated as

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.

EPS is most useful for companies that have:

A predictable business
Consistent accounting methods
And few restructurings

The dividend paid to preferred stocks needs to be subtracted from the total net income in the calculation of EPS because common stock holders are not entitled to that part of the net income.


Be Aware

Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred Net Income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.

Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.

If net earnings is less than 10%, likely to be in a highly competitive business.


Cenovus Energy Net Income Related Terms

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Cenovus Energy (Cenovus Energy) Business Description

Address
225 - 6 Avenue SW, Suite 4100, Calgary, AB, CAN, T2P 1N2
Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 786 thousand barrels of oil equivalent per day in 2022. The company had upstream projects across Western Canada; crude oil production and natural gas and NGLs production offshore China and Indonesia. The downstream operations include upgrading and refining operations in Canada and the U.S., and commercial fuel operations across Canada.