Devon Energy Q3 net earnings $1.9B; dividend up 61% to $1.35/share; production beats guidance

DEVON ENERGY CORP/DE

2022-Q3 EPS reported $7.28 revenue$14,870,000,000

Net earnings $1.9B ($2.88 diluted); core earnings $1.4B ($2.18); operating cash flow $2.1B (+32% YoY).
Fixed-plus-variable dividend raised 61% YoY to $1.35/share, annualized yield of 7%.
Production averaged 614,000 Boe/d, 2% above guidance; capital spending $688M, 4% below forecast.
Closed $2.5B bolt-on acquisitions in Williston Basin and Eagle Ford; exited with $1.3B cash.
Q4 production guidance raised to 640,000-660,000 Boe/d; upstream capital guided at $835M.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DEVON ENERGY CORP/DE updated its the third-quarter 2022 guidance (reaffirmed).

Period: the third-quarter 2022
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On November 1, 2022, Devon Energy Corporation (the “Company”) announced its financial and operational results for the quarterly period ended September 30, 2022.

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Source: SEC EDGAR

accession 0000950170-22-020850

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