DEVON ENERGY CORP/DE (DVN) Earnings History

DEVON ENERGY CORP/DE - Q3 FY2025 Earnings

Filed at: Nov 5, 2025, 3:19 PM EST|Read from source

EXECUTIVE SUMMARY

Devon Energy reported strong third-quarter results, exceeding production guidance and demonstrating effective cost management, leading to robust free cash flow generation and shareholder returns.

POSITIVE HIGHLIGHTS

  • •

    Averaged 390,000 barrels of oil production per day, reaching the top-end of guidance.

    positive
  • •

    Invested $859 million of capital, 5 percent below midpoint guidance, and lowered operating cost 5 percent year-to-date.

    positive
  • •

    Generated $1.7 billion of operating cash flow and $820 million of free cash flow.

    positive
  • •

    Returned $401 million to shareholders through dividend and share repurchases.

    positive
  • •

    Achieved greater than 60 percent of the $1 billion Business Optimization target within seven months.

    positive
  • •

    Production averaged 853,000 Boe per day, exceeding the top-end of guidance.

    positive
  • •

    Production costs averaged $11.41 per Boe, a 3 percent reduction from the second quarter.

    positive

CONCERNS & RISKS

  • •

    Natural gas pricing was impacted by expanded regional gas price differentials in the Delaware Basin driven by infrastructure constraints.

    attention
  • •

    Acquired approximately 60 net locations in the Delaware Basin for $168 million, indicating continued investment in a specific basin.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$2.80B
N/A
Net Income
Quarterly
$687.00M
N/A
EPS (Diluted)
Quarterly
$1.09
N/A
Operating Income
Quarterly
N/A
N/A
EPS (Basic)
Quarterly
N/A
N/A

MARGIN ANALYSIS

Margin metrics will be available once backend extracts data from insights_json

MANAGEMENT GUIDANCE

FY 2026

total_production_boe_per_day
835,000—855,000
Mid-point: 845,000
"Boe per day"
oil_production_per_day
"barrels of oil per day"
capital
3,500,000,000—3,700,000,000
Mid-point: 3,600,000,000
"projected to decrease by $100 million from 2025 levels"

Q4 2025

capital
890,000,000—950,000,000
Mid-point: 920,000,000
wells_placed_online
"gross operated wells"
total_production_boe_per_day
828,000—844,000
Mid-point: 836,000
"Boe per day"
oil_production_per_day
383,000—388,000
Mid-point: 385,500
"barrels per day"

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

MANAGEMENT COMMENTARY

Devon delivered another outstanding performance, achieving best results of the year across all major value drivers.

— DEVON ENERGY CORP/DE, Q3 FY2025 2025 Earnings Call

Production exceeded guidance, capital investments were at their lowest level year-to-date, and LOE reached its most efficient mark.

— DEVON ENERGY CORP/DE, Q3 FY2025 2025 Earnings Call

Business optimization program continues to accelerate, with more than 60 percent of targeted improvements achieved within the first seven months.

— DEVON ENERGY CORP/DE, Q3 FY2025 2025 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Lease Operating And Gathering Processing Transportation Costs Per Boe
8.8
dollars
Oil Production Per Day
390.0K
barrels
Production Costs Per Boe
11.4
dollars
Total Production Boe Per Day
853.0K
Boe

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.