Oklahoma City-based Devon Energy announced it will report fourth-quarter and full-year 2021 results on Tuesday, Feb. 15, after the close of U.S. financial markets.
The earnings release and presentation for the fourth-quarter and full-year 2021 results will be available on the company’s website at www.devonenergy.com.
On Wednesday, Feb. 16, the company will hold a conference call at 10:00 a.m. Central Time (11:00 a.m. Eastern Time), which will consist primarily of answers to questions from analysts and investors. A webcast link to the conference call will be provided on Devon’s website at www.devonenergy.com. A replay will be available on the website following the call.
In the third quarter, Devon had net earnings of $838 million or $1.24 per diluted share.
Adjusting for items analysts typically exclude from estimates, the company’s core earnings were $733 million, or $1.08 per diluted share.
Operating cash flow totaled $1.6 billion in the third quarter, a 46 percent increase from the prior quarter. With capital
reinvestment rates limited to 30 percent of cash flow, the company generated $1.1 billion of free cash flow in the quarter. This represents an 8-fold increase in free cash flow compared to the fourth quarter of 2020 and is the highest quarterly amount in
Devon’s 50-year history.