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Devon Energy

DVN · Energy

Last earnings Aug 4, 2026  ·  Next earnings Nov 5, 2026

Important announcements

Devon Energy Corporation Three Memorial CityOct 8, 2026

Key results

Net incomequarter

$1.9 billion

FINANCIAL RESULTS Devon reported net earnings of $1.9 billion, or $2.03 per diluted share, in the second quarter of 2026.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

Adjusted free cash flowquarter

$1.7 billion

The company funded its capital requirements and had $1.7 billion in adjusted free cash flow for the quarter, excluding the impact of $174 million of after-tax restructuring costs during the quarter.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

Net revenuequarter

87.5%

During the quarter, Devon acquired 16,300 net acres in the heart of the Delaware Basin at the New Mexico federal lease sale for $2.6 billion, adding approximately 400 top-tier, 87.5% Net Revenue Interest locations, funded with cash on hand.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

AI analysis

Q2 2027 · reported Aug 4, 2026

Based on: Earnings release + Q2 2027 deck + parent 8-K — transcript not held

Diluted EPS · Q2 2027
$2.03
EX-99 · Aug 4, 2026
Adjusted free cash flow · Q2 2027
$1.7B
EX-99 · Aug 4, 2026
Net income · Q2 2027
$1.9B
EX-99 · Aug 4, 2026

Headline figures

MetricQ2 2027Prior qtrYear ago
Net income$1.9 billion——
Adjusted free cash flow$1.7 billion——
Net revenue87.5%——

EX-99 · Aug 4, 2026

Guidance · company-stated

Direction: Reiterated

Company outlook — Reiterated

“2 2026 OUTLOOK After a strong second-quarter, the company is demonstrating the operational and financial performance which underpin its full-year 2026 guidance, which remains unchanged from June.”

Classified from the release's primary full-year outlook statement.

Next earningsNov 5, 2026Verified from the company’s own announcement

Cash flow & capex

Adjusted free cash flow$1.7B

Capital allocation

Dividend$1B

We returned more than $1 billion through our dividend, share repurchases and debt repayment, strengthened an already premier Delaware Basin position with a once-in-a-generation federal lease sale, and advanced synergy capture with more than 350 initiatives underway.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

These results reflect the talent and commitment of our newly combined teams, which have not missed a beat in the field

Based on: Earnings release + Q2 2027 deck + parent 8-K — transcript not held

Guidance & outlook

Direction: Reiterated

Company outlook — Reiterated (“remains unchanged”)
“2 2026 OUTLOOK After a strong second-quarter, the company is demonstrating the operational and financial performance which underpin its full-year 2026 guidance, which remains unchanged from June.”

Classified from the release's primary full-year outlook statement.

Capital allocation

We returned more than $1 billion through our dividend, share repurchases and debt repayment, strengthened an already premier Delaware Basin position with a once-in-a-generation federal lease sale, and advanced synergy capture with more than 350 initiatives underway.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

During the quarter, Devon retired $250 million of senior notes, retired $250 million of its term loan, and funded its $2.6 billion New Mexico federal lease acquisition with cash on hand, in addition to funding its dividend and seven weeks of its base share repurchase program.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

RETURN OF CAPITAL Following the close of the merger with Coterra Energy, Devon s board of directors approved a 33 percent increase to the quarterly fixed dividend rate to $0.32 per share, consistent with the company s strategic priority of delivering value to shareholders through a sustainable, annually growing fixed dividend.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

The second-quarter dividend totaled $366 million and was paid on Jun.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

For the third quarter, Devon declared a fixed quarterly cash dividend of $0.32 per share, payable on Sep.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

The company also returned capital to shareholders through its new $8.0 billion share repurchase program, approved by the board in conjunction with the merger close.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

Strategy & priorities

We returned more than $1 billion through our dividend, share repurchases and debt repayment, strengthened an already premier Delaware Basin position with a once-in-a-generation federal lease sale, and advanced synergy capture with more than 350 initiatives underway.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

Looking ahead, our priorities are clear: continuing integration and operational excellence, delivering on our synergy commitments, moving decisively through our portfolio review and returning meaningful capital to shareholders, Gaspar concluded.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

RETURN OF CAPITAL Following the close of the merger with Coterra Energy, Devon s board of directors approved a 33 percent increase to the quarterly fixed dividend rate to $0.32 per share, consistent with the company s strategic priority of delivering value to shareholders through a sustainable, annually growing fixed dividend.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

With more than 350 individual initiatives identified, Devon is on track to deliver at least $1.0 billion of annual pre-tax run-rate synergies by year-end 2027, with approximately $600 million expected to be captured during 2027.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

Devon s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

Risks & headwinds

Consequently, actual future results could differ materially and adversely from our expectations due to a number of factors, including, but not limited to: the volatility of oil, gas and NGL prices, including from the impact of ongoing or escalating armed conflicts, wars and geopolitical instability and from changes in trade relations and policies, such as the imposition of new or increased tariffs or other trade protection measures by the U.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

3 The forward-looking statements included in this press release speak only as of the date of this press release, represent management s current reasonable expectations as of the date of this press release and are subject to the risks and uncertainties identified above as well as those described elsewhere in the 2025 Form 10-K and in other documents we file from time to time with the SEC.

SEC original ↗Devon Energy — Earnings release (8-K exhibit)EX-99Aug 4, 2026

Documents

Earnings deck slides

0 decks with slide view

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Devon Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

TotalEnergies (TTE) EnergyYPF (YPF) EnergyCenovus Energy (CVE) EnergySuncor Energy (SU) EnergyCanadian Natural Resources (CNQ) EnergyWoodside Energy (WDS) EnergyCameco (CCJ) EnergyVista Energy, S.A.B. De C.V. (VIST) Energy

Filings

64 documents

Earnings releases

20 documents

Presentations

11 documents

Transcripts

0 documents

No transcripts for Devon Energy are held in this edition of the library.

Mentioned by

5 companies

Other tracked companies whose held documents mention Devon Energy by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.