05:45 PM EST, 11/10/2025 (MT Newswires) -- MEG Energy ( MEGEF ) , after market close on Monday, said its third-quarter profit and revenue declined slightly, and that is reiterating its 2025 operating and capital outlook.

For Q3, MEG earned $159 million, or $0.62 per diluted share, down from $167 million, or $0.62 per diluted share, a year ago. FactSet had expected $0.62 per share. MEG said the decline was "primarily driven by an unrealized foreign exchange loss and transaction costs in 2025 related to the Strathcona unsolicited offer and the Cenovus plan of arrangement partially offset by lower depletion and depreciation."

Revenue fell to $1.18 billion from $1.27 billion in the year-ago quarter. FactSet projected $1.18 billion.

MEG Energy ( MEGEF ) is in the process of being taken over by Cenovus Energy ( CVE ) , which looks to have beaten off a rival challenge from Strathcona Resources ( STHRF ) for MEG.

The company reaffirmed its 2025 operating and capital spending guidance, first released on Nov. 25, 2024. It continues to expect capital expenditures of $635 million and forecasts average bitumen production between 95,000 and 105,000 barrels per day for the year. Non-energy operating costs are projected to range between $5.30 and $5.80 per barrel.