After reporting $1.7 billion in cash flow in the fourth quarter of 2023, the highest in the past year, Oklahoma City’s Devon Energy plans a release of its first-quarter 2024 results in slightly more than a month.
The company announced it will release the quarterly results on Wednesday, May 1 after the close of U.S. finanial markets. The next day, Devon will hold a conference call aat 10 a.m. Central Time where leadership will answer questions from anaysts and investors.
The company’s fourth quarter earnings released in February showed earnings of $1.2 billion and $1.81 per diluted share. Its adjusted earnings were $902 million or $1.41 a share.
Devon also had operating cash flow of $1.7 billion in the fourth quarter which represented the highest quarterly amount of the year.
Devon CEO and President Rick Muncrief said at the time the company intended to devote more capital to the core of its drilling and exploration efforts in the Delaware Basin. The company also added a fourth Delaware completion crew as its capital program in 2024 was expected to be weighted toward the first half of the year.