Cenovus Energy: Raking In The Cash

2025-11-01 04:28:56 ET

Just when you thought all the "fun" was over with, Cenovus Energy ( CVE ) posted a big earnings beat complete with a lot of cash flow while raking in the cash from selling the two refineries jointly owned with Phillips 66 ( PSX ). Thermal companies normally cash flow rather generously on their own without big news like this. Still, if anyone was wondering where the cash was coming from to finance the MEG Energy ( MEGEF ) acquisition (where the vote was delayed one more time), the answer is a very unusual "the company raised the cash all by itself". There is a whole lot going on here, and it all appears to be positive for shareholders. The company may still borrow money to finance the acquisition. But it is also quite capable of raising whatever cash is needed....

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