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Compared to Estimates, Ovintiv (OVV) Q1 Earnings: A Look at Key Metrics

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Ovintiv (OVV - Free Report) reported $2.55 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 29.7%. EPS of $1.82 for the same period compares to $2.17 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $2.34 billion, representing a surprise of +8.84%. The company delivered an EPS surprise of -0.55%, with the consensus EPS estimate being $1.83.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Ovintiv performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Production Per Day - Total Production: 511.4 MBOE/D versus the seven-analyst average estimate of 506.78 MBOE/D.
  • Production Per Day - Total Natural Gas: 1555 MMcf/D compared to the 1528.06 MMcf/D average estimate based on five analysts.
  • Production Per Day - Total Oil: 127.3 MBBL/D compared to the 123.65 MBBL/D average estimate based on four analysts.
  • Production Per Day - Total Oil & NGL: 252.2 MBBL/D versus 249.38 MBBL/D estimated by three analysts on average.
  • Production Per Day - Total NGL: 124.9 MBBL/D versus 126.52 MBBL/D estimated by three analysts on average.
View all Key Company Metrics for Ovintiv here>>>

Shares of Ovintiv have returned -11.2% over the past month versus the Zacks S&P 500 composite's +0.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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