Ovintiv Inc. (OVV)

NYSE:OVV

OVV

Ovintiv

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Ovintiv (OVV) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 23, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

2.16

Last Year’s EPS

1.03

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 17 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 11, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized strong operational execution, significant balance-sheet improvement, and notable cost and productivity gains (Permian and Montney outperformance, successful NuVista integration, surfactant-driven uplift, <$3.3B net debt, $634M FCF, cash flow per share beat). The principal negatives were a sizable non-cash $1.2B impairment (driven by lower trailing SEC prices) that produced a GAAP loss, higher Canadian royalty-driven volume impacts in the near term, and modest inflationary pressure from diesel. Overall, the positives—durable cash generation, deleveraging, completed integration synergies, cost leadership, and sizeable inventory—outweigh the transitory and non-cash negatives.

Company Guidance

The company reiterated unchanged full‑year capital guidance and a largely ratable activity cadence while updating its capital‑allocation plan to return 50%–100% of free cash flow (having planned ≥75% for 2026 but now expecting 50%–75% if oil stays elevated, with a return to ≥75% if prices retreat), and said absolute buybacks will still exceed March expectations. Key metrics: Q1 cash flow per share was $4.62 (≈6% above consensus) and free cash flow was $634 million; Q1 capex was $605 million (low end of guidance) and Q2 capex is expected ≈$575 million; net debt was <$3.3 billion (<0.8x leverage) with $4.0 billion liquidity and >$80 million of annualized interest savings expected from early debt paydowns; a $1.2 billion after‑tax non‑cash ceiling‑test impairment was recorded in Q1 but management does not expect further impairments at current strip. Production and operating guidance: full‑year oil & condensate guidance maintained at 205–212 kbpd, Q2 company production expected ~623 kBOE/d including ~203 kbpd of oil & condensate (Q1 oil & condensate averaged ~225 kbpd, Permian ~126 kbpd); Montney specifics include Q1 gas realization at 175% of AECO, a 100 MMcf/d JKM‑linked contract that could be worth roughly $60 million at current strips for the remainder of the year, and a note that higher Canadian sliding‑scale royalties and planned plant turnarounds push Q2 Montney toward the low end of guidance (but higher condensate prices — e.g., $90/bbl — would imply ~+5 kbpd and ~+40% revenues). On costs and productivity the company cited D&C burn rates below $600/ft in the Permian and <$500/ft in the Montney, surfactant treatments at ~$100k/well with ~9% oil uplift versus untreated wells and >10% Permian oil productivity per foot improvement since 2023, NuVista integration synergies including ~$1 million per well savings and $100 million annualized cost synergies, and confidence that higher near‑term prices will accrete to free cash flow while capital plans remain unchanged.

Strong Deleveraging and Liquidity Position

Net debt reduced to less than $3.3 billion with leverage under 0.8x; remaining long-term debt has no maturities before 2030; liquidity of $4.0 billion; expected >$80 million of annualized interest savings from repaid debt.

Cash Flow and Free Cash Flow Outperformance

Cash flow per share of $4.62 beat consensus by ~6%; free cash flow totaled $634 million for the quarter; capital spend of $605 million came in at the low end of guidance.

Operational Production at or Above Guidance

Delivered volumes at the high end of guidance ranges; Q1 oil and condensate production approximately 225,000 bbl/d; Q2 company production expected ~623,000 BOE/d including ~203,000 bbl/d oil and condensate; full-year oil & condensate guidance maintained at 205,000–212,000 bbl/d.

Inventory Expansion and Resource Duration

Since 2023 increased Permian and Montney drilling inventory by more than 3,200 locations, leaving ~12–15 years of premium Permian inventory and multi-year duration in the Montney.

NuVista Integration and Cost Synergies

Completed integration of NuVista producing assets; achieved ~ $1.0 million per-well cost savings on the first NuVista pad and on track to realize ~$100 million in annualized cost synergies; reduced wellsite facility costs by ~50% relative to NuVista design.

Best-in-Class Well Productivity and Cost Leadership

Permian wells exceeding the 2026 type curve with average Permian oil & condensate volumes of ~126,000 bbl/d in the quarter; company ranks as one of the highest oil-productivity and lowest-cost operators in the Midland Basin and the Montney.

Measured Productivity Uplifts from Technology

Surfactant program (pumped in >300 Permian wells since 2019) shows ~9% oil productivity uplift vs similar non-treated wells and accounts for roughly half of the type-curve improvement since 2022; overall Permian oil productivity per foot up >10% since 2023. Surfactant cost ~ $100k per well.

Competitive D&C Efficiency

Reported D&C efficiency with costs comfortably below ~$600/ft in the Permian and ~$500/ft in the Montney; completion and drilling cycle times improving leading to lower well costs over time.

Montney Pricing and Marketing Strength

Montney gas price realization at 175% of AECO; initiated a 100 MMcf/d JKM-linked contract (in-money when AECO <20% of JKM) that, at current strips, would be worth roughly $60 million for the remainder of the year.

Shareholder Returns Framework and Track Record

Returned $3.7 billion to shareholders since 2021 ($2.4B buybacks, $1.3B dividends); committed to returning 50%–100% of free cash flow (planned at least 75% at start of 2026, now expected 50%–75% depending on oil prices) and still anticipates absolute dollar returns this year to exceed the original plan.

Ovintiv (OVV) 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

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OVV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 23, 2026	2026 (Q2)	2.16 / -	1.025	―	―	―
May 11, 2026	2026 (Q1)	1.89 / 1.90	1.42	33.45% (+0.48)
Feb 23, 2026	2025 (Q4)	1.01 / 1.39	1.346	3.12% (+0.04)
Nov 04, 2025	2025 (Q3)	0.95 / 1.03	1.863	-44.82% (-0.83)
Jul 24, 2025	2025 (Q2)	1.00 / 1.02	1.217	-15.78% (-0.19)
May 06, 2025	2025 (Q1)	0.92 / 1.42	1.427	-0.49% (>-0.01)
Feb 26, 2025	2024 (Q4)	1.13 / 1.35	2.351	-42.75% (-1.00)
Nov 07, 2024	2024 (Q3)	1.17 / 1.86	1.789	4.14% (+0.07)
Jul 30, 2024	2024 (Q2)	1.33 / 1.22	0.925	31.57% (+0.29)
May 07, 2024	2024 (Q1)	1.41 / 1.43	1.82	-21.59% (-0.39)

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

OVV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 11, 2026	$59.09	$58.09	-1.69%
Feb 23, 2026	$50.55	$49.82	-1.46%
Nov 04, 2025	$36.81	$36.17	-1.74%
Jul 24, 2025	$39.19	$40.60	+3.60%

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 Ovintiv Inc. (OVV) report earnings?

Ovintiv Inc. (OVV) is schdueled to report earning on Jul 23, 2026, Before Open (Confirmed).

What is Ovintiv Inc. (OVV) earnings time?

Ovintiv Inc. (OVV) earnings time is at Jul 23, 2026, 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 OVV EPS forecast?

OVV EPS forecast for the fiscal quarter 2026 (Q2) is 2.16.