How did CVE's Q1 2024 EPS forecast compare to past trends?

Cenovus Energy's (CVE) Q1 2024 EPS of $1.16 was a significant improvement from the previous year's Q1 EPS of $1.58, which itself had recovered from the $1.52 EPS in 2020. This indicates a positive trend in CVE's financial performance, with EPS showing a strong recovery from the 2020 lows and surpassing the 2023 levels.

|code|Ticker|Name|Date|Diluted EPS (FY) YoY|Diluted EPS (FY)|market_code|
|---|---|---|---|---|---|---|
|CVE|CVE.N|Cenovus Energy|2020|-210.7749043175305|-1.5212106868|169|
|CVE|CVE.N|Cenovus Energy|2021|113.8913835955573|0.2113172118|169|
|CVE|CVE.N|Cenovus Energy|2022|1019.0593382606803|2.364764992|169|
|CVE|CVE.N|Cenovus Energy|2023|-33.054934657117926|1.5830934691|169|
|CVE|CVE.N|Cenovus Energy|2024|-26.743288540043668|1.1597222148|169|

The recovery in EPS from $1.52 in 2020 to $1.58 in 2023 and then to $1.16 in 2024 suggests that CVE is still in the process of fully recovering from the impacts of the 2020 downturn. However, the fact that the EPS in 2024 exceeded the 2023 EPS indicates a positive outlook for the company's profitability in the immediate term.