Devon Energy Q1: net earnings $494M, core earnings $779M; oil production beats guidance

DEVON ENERGY CORP/DE

2025-Q1 EPS reported $0.77 revenue$4,452,000,000

Net earnings $494M ($0.77 diluted EPS); core earnings $779M ($1.21/sh).
Oil production 388,000 bbl/d exceeded top-end guidance; total output 815,000 Boe/d.
Capital spending $964M, 5% below midpoint guidance; free cash flow $1.0B.
Returned $464M to shareholders: $0.24/sh dividend and $301M in share repurchases (8.5M shares).
Announced $1B annual pre-tax FCF improvement plan by end-2026; 2025 capex reduced $100M to $3.7-$3.9B.

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