Cenovus Energy Inc T.CVE.WT

Long-Term DEBT INCREASED To $ 7,227M From $ 7,108M In Q4

[ztransforms173]

- this is DUE to the TRANSLATION of US Dollars DEBT into Canadian Dollars

NET DEBT:

(C $ million)

@ 12/31/2023:   5,060

@ 3/31/2024:     4,827

Change:              - 233 

Long-term debt, including the current portion, was $7.2 billion at March 31, 2024, in line with year-end 2023. Net debt was approximately $4.8 billion at March 31, 2024, a decrease from $5.1 billion at December 31, 2023, primarily due to free funds flow of $1.2 billion, partially offset by shareholder returns of $436 million and a build in non-cash working capital. In the first quarter, the company achieved its targeted mid-BBB credit ratings from all rating agencies. S&P Global Ratings upgraded Cenovus to BBB with a stable outlook, citing the company's debt reduction.

z173
 

[vwbusman]

This is the only disappointing aspect of the report is not much progress toward meeting debt target - looks like another 3 quarters before that is achieved.  The divy increase and special dividend will get the headlines but I would have rather seen an all out attack on the debt to get it down faster.

[ztransforms173]

- it is NOT DISAPPOINTING AT ALL since they HAD NO CHOICE EXCESS FREE FUNDS FLOW: (C $ million) 832 - of which; $ 165 million went to the NCIB - the REST, MOSTLY WENT to BUILD UP WORKING CAPITAL (accounts receivables + inventory) due to HIGHER CRUDE OIL PRICES in Q1/2024 versus Q4/2023 and HIGHER COST INVENTORIES and BUILDING UP LINE FILL for TMX {1 million WCS barrels for Cenovus Energy

[downwithdotcom1]

in the end (on paper) NET DEBT went down to $4.8 billion moving closer to their $4 bill 100% FCF return ...so why confuse it with the LONG TERM DEBT??? dwdc Net debt 4,827 5,060 6,632

[ztransforms173]

- because LONG-TERM DEBT is the REAL DEBT and NET DEBT is an ARTIFICIALLY CREATED ACCOUNTING COMPOSITE - I am NOT CONFUSING ANTHING, YOU ARE - I POSTED both numbers z173

[downwithdotcom1]

the $4 bill  NET DEBT is the number that will determine when we move to 100% return of FCF ..THAT"S IT AND THAT"S ALL!! dwdc PS:  and i didn't have to come back under a different name (unlike you) to keep posting ...

[Cabarete1]

Let's keep it all positive, we're all on the same page - CVE to the moon -

[ztransforms173]

- I DON'T KNOW where you get you ERRONEOUS INFORMATION FROM but I ONLY USE one USER ID on Stockhouse - you 'SEEMED' to have MISSED this KEY STATEMENT: assuming NO CHANGE in C $ / USD FOREX RATE from 3/31/2024, they ONLY NEED to PAY DOWN ANOTHER C $ 827 million to reach their C $ 4 BILLION NET DEBT TARGET   z173

[downwithdotcom1]

"I DON'T KNOW where you get you ERRONEOUS INFORMATION FROM but I ONLY USE one USER ID on Stockhouse" but you had another alias BEFORE 2018 right??  dwdc 

[Hightowntrader]

Of course he did... It was Eigen-something... I actually like Xformers posts, as he digs up a lot of info for many stocks I own. I appreciate a lot of guys on these boards, and "ignore" those that I dislike. Keep it up Xformer!