Loading...
•
Dec 31, 2025
Devon Energy Q4 2025 Earnings Report
Devon Energy reported solid fourth-quarter results with strong earnings, free cash flow generation, and continued capital returns to shareholders.
Key Takeaways
Devon generated $4121000000 in revenue and $562000000 in net income in Q4 2025, with diluted EPS of $0.90. The company delivered $702000000 in free cash flow, maintained low leverage at 0.9x net debt-to-EBITDAX, and continued returning capital through dividends and share repurchases.
Total revenue reached $4121000000 in Q4 2025.
Net income attributable to Devon was $562000000 with diluted EPS of $0.90.
Free cash flow totaled $702000000 for the quarter.
Net debt-to-EBITDAX remained at 0.9x, reflecting a strong balance sheet.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For Q1 2026, Devon expects total oil equivalent production between 823000 and 843000 Boe/d and upstream capital between $850000000 and $900000000. Full-year 2026 standalone production is projected between 835000 and 855000 Boe/d with total capital between $3500000000 and $3700000000.
Positive Outlook
- Q1 2026 production guidance up to 843000 Boe/d.
- Full-year 2026 production guidance up to 855000 Boe/d.
- Upstream capital discipline maintained in Q1 2026.
- Commitment to maintain leverage below 1.0x net debt-to-EBITDAX.
- Updated 2026 guidance to follow merger close.
Challenges Ahead
- Q1 2026 production impacted by winter weather.
- Standalone 2026 guidance subject to merger update.
- Marketing & midstream operating loss expected in Q1 2026.
- Financing costs projected between $100000000 and $110000000 in Q1 2026.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...