Devon Energy Corp. announced it will report third-quarter 2020 results on Thursday, Oct. 29, after the close of U.S. financial markets.
The question will be whether the company will avoid a repeat of the second quarter when it suffered a net loss of $670 million or $1.78 per diluted share, largely due to the COVID-19 pandemic. At the time, Devon said the quarterly result was negatively impacted by a $593 million unrealized change in the fair value of the company’s derivative position due to higher futures commodity pricing.
Still, Devon managed to exit the second quarter with $1.7 billion in cash and an undrawn credit facility of $3 billion.
The third-quarter earnings release and presentation for the third-quarter 2020 results will be available on the company’s website at www.devonenergy.com.
On Friday, Oct. 30, the company will hold a conference call at 9:30 a.m. Central Time (10:30 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.
Source: Devon Energy