Cenovus Energy reports $934M Q4 profit, up from $146M a year earlier

CALGARY - Cenovus Energy Inc. reported a fourth-quarter profit of $934 million, up from $146 million a year ago.

The energy company says the profit amounted to 50 cents per diluted share for the quarter, up from seven cents per diluted share a year earlier.

Revenue for the quarter totalled $10.9 billion, down from $12.8 billion in the fourth quarter of 2024.

The results came as upstream production amounted to a record 917,900 barrels of oil equivalent per day, up from 816,000 a year earlier.

Excluding the acquisition of MEG Energy Corp., Cenovus says production was up five per cent compared with a year earlier.

Downstream throughput totalled 465,500 barrels per day, down from 666,700 in the fourth quarter of 2025, representing an overall utilization rate of 98 per cent.

This report by The Canadian Press was first published Feb. 19., 2026.

Companies in this story: (TSX:CVE)