Ovintiv (OVV) Q3 FY2026 earnings: revenue $2.6 billion, up 25.9% on the year

Ovintiv Inc. (OVV) reported revenue of $2.6 billion for Q3 FY2026, the quarter ended 30 September 2026, up 25.9% on the same quarter a year earlier. Net income was $549 million, up 270.9% on the year, and diluted earnings per share $1.99. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2026.

Revenue

$2.6 billion

+25.9% on the year · -13.6% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

33.7%

13.2% a year earlier

Q4 FY2024Q3 FY2026

Net income

$549 million

+270.9% on the year · +20.4% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$1.99

+249.1% on the year · +22.8% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 4 raised, 3 lowered, 5 new, 8 kept.

Net earnings and cash flow reported: Net earnings were $549 million, or $1.99 per diluted share. Non-GAAP Free Cash Flow was $680 million, after $563 million of capital expenditures.
Per-share oil growth on track: Oil and condensate production per share grew about 6% over the last six months, and the company said it is on pace for 8% to 9% growth by year end.
Shareholder returns were 69% of FCF: Returns were about $467 million, or 69% of Non-GAAP Free Cash Flow: $386 million of buybacks for 6.3 million shares and $81 million of dividends.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	2,602	3,013	2,066	-13.6%	+25.9%
Operating income	877	994	273	-11.8%	+221.2%
Operating margin	33.7%	33.0%	13.2%
Interest expense	75.0	100	91.0	-25.0%	-17.6%
Pre-tax income	804	539	192	+49.2%	+318.8%
Income tax	255	83.0	44.0	+207.2%	+479.5%
Effective tax rate	31.7%	15.4%	22.9%
Net income	549	456	148	+20.4%	+270.9%
Net margin	21.1%	15.1%	7.2%
Diluted EPS	$1.99	$1.62	$0.57	+22.8%	+249.1%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	1,070	1,632	812	-34.4%	+31.8%
Capital expenditure	563	574	544	-1.9%	+3.5%
Free cash flow	507	1,058	268	-52.1%	+89.2%
Free cash flow margin	19.5%	35.1%	13.0%
Cash from investing	-1,010	2,219	-453
Cash from financing	-580	-3,176	-358
Depreciation and amortisation	550	519	545	+6.0%	+0.9%
Share-based compensation	14.0	11.0	16.0	+27.3%	-12.5%
Buybacks	386	345	160	+11.9%	+141.2%
Dividends paid	81.0	84.0	77.0	-3.6%	+5.2%
Dividend per share	$0.30	$0.30	$0.30	0.0%	0.0%
Diluted shares, weighted	275m	282m	258m	-2.3%	+6.7%
Shares outstanding at period end	270m	277m	253m	-2.3%	+6.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	11,603	11,499	10,234	+0.9%	+13.4%
Debt	3,588	3,695	5,212	-2.9%	-31.2%
Operating lease liabilities	1,238	1,118	1,105	+10.7%	+12.0%
Finance lease liabilities	110	111	0.0	-0.9%
Other liabilities	3,065	2,857	2,837	+7.3%	+8.0%
Total liabilities and equity	19,604	19,280	19,388	+1.7%	+1.1%
Fixed assets	13,679	13,203	14,123	+3.6%	-3.1%
Goodwill	2,319	2,324	2,566	-0.2%	-9.6%
Investments	0.0	0.0	n/a
Cash and equivalents	176	700	25.0	-74.9%	+604.0%
Other assets	3,430	3,053	2,674	+12.3%	+28.3%
Total assets	19,604	19,280	19,388	+1.7%	+1.1%

Questions

What was Ovintiv's revenue in Q3 FY2026?

Ovintiv (OVV) reported revenue of $2.6 billion for Q3 FY2026, the quarter ended 30 September 2026, up 25.9% on the same quarter a year earlier.

How much did Ovintiv earn in Q3 FY2026?

Net income for Q3 FY2026 was $549 million, up 270.9% on the year, and diluted earnings per share $1.99.

When did Ovintiv report Q3 FY2026 results?

Ovintiv filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 3 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,339	1,967	3,736	3,549	3,212	2,551	2,517	2,649	3,166	2,352	2,288	2,324	2,188	2,377	2,318	2,066	2,147	2,532	3,013	2,602
Operating income	1,445	-200	1,516	1,373	1,164	678	531	467	1,188	494	556	527	2.0	-89.0	511	273	436	-754	994	877
Operating margin	43%	-10%	41%	39%	36%	27%	21%	18%	38%	21%	24%	23%	0%	-4%	22%	13%	20%	-30%	33%	34%
Interest expense	77.0	74.0	91.0	83.0	63.0	71.0	80.0	98.0	106	98.0	105	103	106	97.0	95.0	91.0	93.0	104	100	75.0
Pre-tax income	1,382	-246	1,422	1,274	1,110	613	437	393	1,067	428	466	558	-101	-193	399	192	372	-827	539	804
Tax rate	-0%	n/a	5%	7%	-20%	21%	23%	-3%	20%	21%	27%	9%	n/a	n/a	23%	23%	-154%	n/a	15%	32%
Net income	1,384	-241	1,357	1,186	1,335	487	336	406	856	338	340	507	-60.0	-159	307	148	946	-630	456	549
Net margin	41%	-12%	36%	33%	42%	19%	13%	15%	27%	14%	15%	22%	-3%	-7%	13%	7%	44%	-25%	15%	21%
Diluted EPS	$5.23	-$0.94	$5.21	$4.63	$5.30	$1.97	$1.34	$1.47	$3.11	$1.24	$1.27	$1.92	-$0.23	-$0.61	$1.18	$0.57	$3.70	-$2.35	$1.62	$1.99
Operating cash flow	740	685	1,344	962	875	1,068	831	906	1,362	659	1,020	1,022	1,020	873	1,013	812	954	1,056	1,632	1,070
Capital expenditure	421	451	511	511	358	610	640	834	660	591	622	538	552	617	521	544	465	605	574	563
Free cash flow	319	234	833	451	517	458	191	72.0	702	68.0	398	484	468	256	492	268	489	451	1,058	507
Buybacks	111	71.0	135	325	188	239	89.0	45.0	53.0	250	184	163	0.0	0.0	147	160	0.0	84.0	345	386
Dividends paid	36.0	52.0	64.0	62.0	61.0	61.0	82.0	82.0	82.0	80.0	80.0	78.0	78.0	78.0	77.0	77.0	76.0	85.0	84.0	81.0
Shares outstanding	258m	259m	256m	249m	246m	244m	274m	273m	272m	268m	264m	260m	260m	261m	257m	253m	253m	283m	277m	270m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 3 November 2026: the filing.