$CVE

Canada’s four largest oil sands producers, Cenovus Energy, Suncor Energy, Imperial Oil and Canadian Natural Resources, reported combined $13.3B profit for the three months ended June 30, with annual profits potentially near $100B, according to the article. It links higher oil prices to the U.S. and Israel’s war on Iran and cites economist Jim Stanford’s view that consumers bear the cost. Enbridge postponed a Mainline phase, citing producer output.

Simply Wall St reports Cenovus Energy’s Q2 results: sales rose to CA$17,427 million and net income to CA$2,870 million, with higher upstream production but lower downstream throughput year over year. The company also raised 2026 upstream guidance to 970–1,010 MBOE/d, continues a share buyback (about 2.73% retired), and kept its CA$0.22 quarterly dividend.

The article says global oil prices rose about 50% since the start of the U.S. conflict with Iran, and Canada’s gasoline prices are nearly 50% higher despite unchanged production costs. It cites second-quarter results from Cenovus, Suncor, Imperial and Canadian Natural, with combined after-tax profits of $13.3B (+144% YoY) and Q2 payouts of $6B. It argues profits may reach $100B this year.

Cenovus Energy (CVE) reported Q2 2026 adjusted funds flow of $5.0B, record upstream production of 970,400 BOE/day (+27% YoY), and net debt of $5.4B after a $2.7B reduction. The company raised 2026 production guidance to 970,000-1,010,000 BOE/day and kept capital investment at $5.0B-$5.3B. It returned $1.4B to shareholders.

Simply Wall St reports Cenovus Energy (TSX:CVE) raised its 2026 guidance after Q2 results with higher sales, net income, and upstream production. The article cites CA$39.61 share price, up 64.7% YTD and 326.1% over five years. It highlights a valuation narrative with fair value CA$45.84 and notes risks from oil sands and Western Canadian Select differentials.

Cenovus Energy said former Husky-Cenovus travel centres are rebranding to BVD Petroleum effective Aug. 1, 2026. BVD Petroleum acquired the sites after agreeing with Canada’s Competition Bureau to divest a Petro-Canada station and cardlock in St. Catharines-Niagara Falls. The change ends Cenovus “Key to the Highway” acceptance and affects fuel card use; BVD has 87 locations in six provinces.

The article highlights L3Harris (LHX), Cenovus Energy (CVE), and Sanofi (SNY). L3Harris reported 9.3% Y/Y revenue growth to $5.9B and forecasts FY2026 revenue of $23.58B, with a 1.2x book-to-bill. Cenovus revenue rose 41.5% Y/Y to C$17.4B, forecasting 2026 upstream production of 970-1,010 MBOE/d. Sanofi posted Q2 revenue up 16.1% Y/Y and pharma sales up 48.3% to EUR 1.3B.

Simply Wall St reports that Cenovus Energy Inc. president Jonathan McKenzie sold about CA$13m of shares at an average price of CA$42.28, cutting his holdings by 26%. The article says this was the largest insider sale in the prior 12 months. Over the year, insiders sold more than they bought.

Canadian Natural Resources executive chair Murray Edwards said the oilsands industry is committed to Alberta’s $20 billion Pathways carbon capture project, but needs environmental, regulatory and fiscal rules to advance. He linked progress to a new West Coast pipeline under a federal Alberta MOU, including an effective carbon tax of $130/tonne. Pathways lacks a final investment decision.

Canadian TSX futures edged higher as oil prices rose on renewed Middle East hostilities and investors awaited the Federal Reserve’s policy decision. The TSX closed up 181.56 points at 35,749.70. Cenovus Energy reported higher Q2 revenue and profit. U.S. futures also rose; Ford gained on results, Visa fell on guidance.