earnings
confidence high
sentiment neutral
materiality 0.75
Devon Q3 net earnings $812M ($1.30/sh); oil prod beat; no variable dividend; Grayson Mill closed
DEVON ENERGY CORP/DE
2024-Q3 EPS reported
$3.59
revenue$11,537,000,000
- Net earnings of $812M ($1.30 diluted EPS); core earnings $683M ($1.10/sh).
- Oil production 335,000 bbl/d (4% above guidance); total output 728,000 Boe/d.
- Closed Grayson Mill acquisition on Sept 27; added 307,000 net acres in Williston Basin.
- Declared fixed dividend $0.22/sh but no variable dividend; repurchased $295M of stock.
- Q4 guidance raised to 811-830 MBoe/d; capital midpoint $950M; retired $472M debt.