Devon Energy Sets Feb. 17 Release for Fourth-Quarter Earnings
Oklahoma City-based Devon Energy is preparing to release its fourth-quarter and full-year 2025 earnings following what company leaders described as their strongest performance of the year during the third quarter.
Devon announced it will report fourth-quarter 2025 financial and operational results after the close of U.S. financial markets on Tuesday, February 17. The earnings release and investor presentation will be available on the company’s website at devonenergy.com.
The company will host a conference call on Wednesday, February 18, at 10 a.m. CDT, primarily focused on questions from analysts and investors. A live webcast link will be posted on Devon’s website, with a replay available following the call.
Strong Momentum Heading Into Year-End Results
Devon enters the fourth-quarter earnings report with significant momentum after posting what executives called the company’s best results of 2025 during the third quarter.
In November, Devon reported net earnings of $687 million, or $1.09 per diluted share, for the third quarter of 2025. Excluding items typically removed from analyst estimates, core earnings totaled $656 million, or $1.04 per diluted share.
The company generated $1.7 billion in operating cash flow, a 9% increase from the second quarter, and delivered $820 million in free cash flow after funding capital requirements.
Permian Expansion and Federal Lease Activity
Devon continues to expand its footprint in the Permian Basin, where it maintains extensive operations across west Texas and southeast New Mexico.
The company recently concluded a successful round of Bureau of Land Management lease auctions, investing $79 million for approximately 900 acres in New Mexico. Devon’s highest bid reached $218,750 for a 320-acre parcel, with total lease spending nearing $70 million.
Earlier in 2025, Devon disclosed it had completed $168 million in Delaware Basin lease acquisitions, adding roughly 60 net drilling locations to its portfolio.
Leadership Highlights Operational Gains
Following the third-quarter earnings release, Clay Gaspar, President and CEO of Devon Energy, praised the company’s performance and emphasized ongoing efficiency gains.
“This was another outstanding performance, achieving our best results of the year across all major value drivers,” Gaspar said at the time.
Gaspar noted Devon exceeded production guidance while keeping capital investments at their lowest level of the year.
“Our business optimization program continues to accelerate, with more than 60% of targeted improvements achieved within the first seven months,” he said. “This rapid progress is a testament to our culture of innovation and our team’s ability to embrace new technologies.”
He added that Devon’s deployment of advanced analytics and digital tools is helping streamline workflows, improve decision-making, and capture efficiencies that directly strengthen the company’s financial performance.
Looking Ahead to 2026
Gaspar also expressed confidence that Devon’s outlook for 2026 is stronger than its current trajectory.
“We plan to sustain our production levels while further lowering capital requirements, building on the momentum established this year,” he said. “Our focus on operational excellence, technology adoption, and disciplined capital allocation gives us confidence in our ability to deliver stronger results in 2026 and continue creating long-term value for our shareholders.”