Cenovus Energy (CVE) reported Q4 earnings Thursday of 0.07 Canadian dollars ($0.05) per share, down from CA$0.32 a year earlier.
Two analysts polled by FactSet expected CA$0.25.
Revenue for the quarter ended Dec. 31 was CA$15.16 billion compared with CA$15.30 billion a year earlier.
Four analysts surveyed by FactSet expected CA$14.79 billion.