earnings
confidence high
sentiment positive
materiality 0.85
Devon Energy Q2 2022: Record free cash flow of $2.1B; dividend raised 22% to $1.55/share
DEVON ENERGY CORP/DE
2022-Q2 EPS reported
$4.40
revenue$9,438,000,000
- Net earnings $1.9B ($2.93 diluted EPS); core earnings $1.7B ($2.59 diluted EPS).
- Operating cash flow $2.7B, more than double YoY; free cash flow record $2.1B (reinvestment rate 22%).
- Fixed-plus-variable dividend increased 22% to record $1.55/share (11% annualized yield).
- Production 616 MBoe/d (+7% QoQ); Delaware Basin up 22% YoY to 436 MBoe/d.
- Full-year 2022 production guidance raised 3% to 600-610 MBoe/d; capital guidance $2.2-2.4B.