Cenovus Energy (NYSE: CVE) reported Q2 EPS of ($0.33), versus ($0.02) reported last year.

“Our assets have been performing extremely well, and with our hedging exposure now significantly reduced, we’re well-positioned to realize the benefits of higher oil prices as well as our cumulative cost reductions,” said Alex Pourbaix, Cenovus President & Chief Executive Officer. “Based on forward strip prices, we expect to generate significant free funds flow in the second half of the year, and we have a clear plan to use that to help deleverage our balance sheet. We believe that’s the best defence against commodity price volatility.”

For earnings history and earnings-related data on Cenovus Energy (CVE) click here.