Devon schedules 2Q financial release for August 1


Devon Energy said it will report second-quarter 2023 financial results on Aug. 1. as executive leadership hopes it might improve on record oil production in the first quarter.

The Oklahoma City-based company said the release will come after the close of U.S financial markets on that Tuesday. The earnings release and presentation for the second-quarter 2023 results will be available on the company’s website at

On Wednesday, Aug. 2, 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.

Devon leadership is hoping to build on a strong first quarter in which the company’s oil production reached an all-time high of 320,000 barrels of oil a day. As a result, Devon’s operating cash flow totaled $1.7 billion and its free cash flow reached $665 million in the first quarter. The company also declared a dividend payout of 72 cents a share and accelerated its share buyback activity with $692 million of repurchases year-to-date.

After shares marked a minus 0.88% in Tuesday’s trading, one firm, Zacks Equity Research pointed out the slip was in opposition to the S&P 500’s 1.15% gain for the day.

On Wednesday, Devon shares gained 37 cents or 0.78% to close at $47.69 a share.

“Investors will be hoping for strength from Devon Energy as it approaches its next earnings release. The company is expected to report EPS of $1.39, down 46.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.99 billion, down 29.07% from the year-ago period,” stated Zacks in its analysis.

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