The earnings call presented a mix of strong operational achievements, such as the successful completion of a major turnaround and a promising outlook for free cash flow and shareholder returns. However, these positives were tempered by the impact of wildfires, lower commodity prices, and increased operating costs. While the company is well-positioned for growth, external challenges have affected short-term performance.

Company Guidance -

Q3 2025

In the recent conference call regarding MEG Energy's second quarter 2025 results, several key metrics and strategic initiatives were discussed. MEG Energy successfully completed a major planned turnaround on time and within budget, despite regional wildfire conditions, with over 150 tie-ins completed for their facility expansion project. This project is set to increase production capacity by 25,000 barrels per day by mid-2027 and is currently 15% complete. The company generated $148 million in free cash flow in the first half of the year and returned $220 million to shareholders through repurchasing approximately 3% of shares. MEG is on track to generate over $500 million in free cash flow in 2025. Bitumen production averaged 63,500 barrels per day in Q2, with a steam-to-oil ratio of 2.38, while the full-year operating and capital guidance remains unchanged. The WCS heavy oil differential narrowed to USD 10.27 per barrel, and operating costs net of power revenue were $10.88 per barrel. MEG also announced a 10% increase in their quarterly dividend to $0.11 per share, reflecting confidence in their business model.

Successful Completion of Major Turnaround

MEG Energy completed the largest planned turnaround in its history on time and on budget, despite the challenges posed by regional wildfires.

Free Cash Flow and Shareholder Returns

Generated $148 million in free cash flow in the first half of 2025 and returned $220 million to shareholders, repurchasing approximately 3% of shares outstanding. Projected to generate over $500 million in free cash flow in 2025.

Dividend Increase

Announced a 10% increase in the quarterly dividend to $0.11 per share, reflecting confidence in business strength and commitment to shareholder returns.

Facility Expansion on Track

Completed over 150 tie-ins for facility expansion, adding 25,000 barrels per day of production capacity by mid-2027, on track and on budget.

Improved WCS Heavy Oil Differential

The WCS heavy oil differential narrowed to USD 10.27 per barrel, supported by improved pipeline access and strong demand for Canadian heavy crude.

MEG Energy (MEGEF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

MEGEF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	0.37 / -	0.45	―	―	―
Jul 31, 2025	2025 (Q2)	0.09 / 0.19	0.363	-48.00% (-0.17)	―
May 06, 2025	2025 (Q1)	0.48 / 0.60	0.261	127.78% (+0.33)	―
Feb 27, 2025	2024 (Q4)	0.43 / 0.29	0.269	8.11% (+0.02)	―
Nov 05, 2024	2024 (Q3)	0.52 / 0.45	0.624	-27.91% (-0.17)
Jul 25, 2024	2024 (Q2)	0.46 / 0.36	0.341	6.38% (+0.02)	―
May 06, 2024	2024 (Q1)	0.37 / 0.26	0.203	28.57% (+0.06)	―
Feb 29, 2024	2023 (Q4)	0.40 / 0.27	0.385	-30.19% (-0.12)	―
Nov 06, 2023	2023 (Q3)	0.65 / 0.62	0.37	68.63% (+0.25)
Jul 27, 2023	2023 (Q2)	0.28 / 0.34	0.523	-34.72% (-0.18)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MEGEF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$19.80	$19.33	-2.37%
May 06, 2025	$14.20	$13.89	-2.18%
Feb 27, 2025	$15.79	$15.44	-2.22%
Nov 05, 2024	$18.89	$19.22	+1.75%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does MEG Energy Corp (MEGEF) report earnings?

MEG Energy Corp (MEGEF) is schdueled to report earning on Nov 04, 2025, Before Open (Confirmed).

What is MEG Energy Corp (MEGEF) earnings time?

MEG Energy Corp (MEGEF) earnings time is at Nov 04, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is MEGEF EPS forecast?

MEGEF EPS forecast for the fiscal quarter 2025 (Q3) is 0.37.

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