Devon Energy Earnings Reports

Devon Energy posted $4.40B in revenue for Q4 2024, a 6.22% YoY increase. However, net income declined 44.53% YoY to $639M, impacted by rising expenses and derivative losses. Adjusted EPS came in at $1.16, down from $1.81 in Q4 2023. The company’s free cash flow was $738M, while total assets stood at $30.49B.

Devon Energy reported net earnings of $812 million, or $1.30 per share, and core earnings of $683 million, or $1.10 per share. The company's oil production reached 335,000 barrels per day, exceeding guidance by 4 percent. Devon generated $1.7 billion of operating cash flow and $786 million of free cash flow. The company also closed its acquisition of Grayson Mill Energy.

Devon Energy reported net earnings of $844 million, or $1.34 per diluted share, and core earnings of $885 million, or $1.41 per diluted share. The company's oil production reached an all-time high, and it delivered strong operating cash flow and free cash flow. Devon also announced a strategic acquisition and increased its share-repurchase authorization.

Devon Energy reported strong first-quarter 2024 results, exceeding production guidance by 4% and generating $844 million in free cash flow. The company increased its full-year 2024 production forecast by 2% based on these results.

Devon Energy reported net earnings of $1.2 billion, or $1.81 per diluted share, in the fourth quarter of 2023. The company's core earnings were $902 million, or $1.41 per diluted share. Operating cash flow totaled $1.7 billion, resulting in $827 million of free cash flow. Production averaged 662,000 oil-equivalent barrels (Boe) per day.

Devon Energy reported net earnings of $910 million, or $1.42 per diluted share, in the third quarter of 2023. Core earnings were $1.1 billion, or $1.65 per diluted share. The company generated $843 million of free cash flow and increased its dividend by 57 percent.

Devon Energy reported net earnings of $690 million, or $1.07 per diluted share, in the second quarter of 2023. Core earnings were $755 million, or $1.18 per diluted share. The company generated $1.4 billion in operating cash flow and $326 million of free cash flow. Oil production reached a record high of 323,000 barrels per day.

Devon Energy reported net earnings of $995 million, or $1.53 per diluted share, in the first quarter of 2023. Operating cash flow totaled $1.7 billion and free cash flow reached $665 million. The company declared a fixed-plus-variable dividend payout of $0.72 per share and expanded its share-repurchase program by 50 percent to $3 billion.

Devon Energy reported Q4 2022 net earnings of $1.2 billion, or $1.83 per diluted share, with core earnings of $1.1 billion, or $1.66 per diluted share. Operating cash flow totaled $1.9 billion, resulting in $1.1 billion of free cash flow. Oil production reached an all-time high of 316,000 barrels per day.

Devon Energy reported strong Q3 2022 results, driven by disciplined execution and strategic acquisitions. The company saw increased production, operating cash flow, and free cash flow, allowing for a dividend increase and continued share repurchases. Updated outlook reflects higher production targets and free cash flow projections due to recent acquisitions.

Devon Energy reported strong second-quarter 2022 results, with net earnings of $1.9 billion, core earnings of $1.7 billion, and operating cash flow of $2.7 billion. Free cash flow reached a record high of $2.1 billion, and the company increased its fixed-plus-variable dividend by 22 percent to $1.55 per share. The company also updated its full-year 2022 guidance, raising production targets and increasing free cash flow projections.

Devon Energy reported strong first-quarter 2022 results, driven by Delaware Basin production growth and margin expansion. The company achieved record free cash flow of $1.3 billion and increased its dividend payout by 27 percent to $1.27 per share. Devon also expanded its share-repurchase authorization by 25 percent to $2.0 billion and strengthened its balance sheet, with cash balances increasing by $354 million to $2.6 billion.

Devon Energy reported Q4 2021 net earnings of $1.5 billion, or $2.23 per diluted share, and core earnings of $935 million, or $1.39 per diluted share. Operating cash flow was $1.6 billion, resulting in $1.1 billion of free cash flow. The company's total production averaged 611,000 Boe per day, exceeding guidance by 3 percent.

Devon Energy reported strong Q3 2021 results driven by the Delaware Basin, highlighted by a 46% increase in operating cash flow to $1.6 billion and record free cash flow of $1.1 billion. The company increased its fixed-plus-variable dividend by 71% and authorized a $1 billion share buyback program.

Devon Energy reported a strong second quarter in 2021, marked by an increase in the fixed-plus-variable dividend by 44 percent to $0.49 per share, a substantial rise in operating cash flow to $1.1 billion, and free cash flow generation of $589 million. Oil production exceeded midpoint guidance, averaging 291,000 barrels per day.

Devon Energy reported a strong first quarter in 2021, marked by increased dividends, debt reduction, and exceeding oil production guidance. The company's performance was driven by its Delaware Basin asset and a focus on capital discipline.

Devon Energy reported a net loss of $102 million for the fourth quarter of 2020. Pro forma operating cash flow totaled $773 million, which funded capital requirements and generated $263 million of free cash flow. The board declared an industry-first variable dividend of $0.19 per share.

Devon Energy reported a net loss of $92 million, but generated $223 million of free cash flow. The company's oil production exceeded guidance, driven by strong well productivity in the Delaware Basin. Devon also announced a transformational merger with WPX Energy and paid a special dividend to shareholders.

Devon Energy reported a net loss of $670 million for Q2 2020, impacted by a $593 million unrealized change in the fair value of the company's derivative position. However, the company exceeded oil production guidance, reduced capital expenditures, and improved operating costs. Strategic initiatives include accelerating the Barnett Shale divestiture, declaring a $100 million special dividend, and planning to reduce costs and debt.

Devon Energy reported first-quarter 2020 results, highlighting oil production exceeding guidance, increased operating cash flow, and a strong financial position. The company is reducing capital investment and improving cost outlook for 2020.

Devon Energy reported fourth-quarter 2019 results, with oil production increasing 28% year over year and exceeding guidance. The company's operating cash flow was $579 million and free cash flow was $171 million. A net loss of $642 million was reported, but core earnings were $0.33 per diluted share after adjustments.