— Devon Energy Inc. (NYSE: DVN) reported fourth-quarter core earnings of $0.33 per share, versus $0.32 per share expected.
— On a reported basis, the company recordd a net loss of $642 million or $1.70 per share
— Upstream revenue, excluding commodity derivatives, totaled $1 billion in the fourth quarter
— Oil production increased 28% year over year, exceeding guidance; free cash flow generation accelerated to $171 million
— Board of directors approved a 22% increase to the quarterly dividend to $0.11 per share, compared to the prior rate of $0.09 per share
— Net production from retained assets averaged 340,000 oil-equivalent barrels per day
— Oil production averaged 160,000 barrels per day, a 28% increase from
the same period a year ago
— Entered into an agreement to sell the Barnett Shale assets for $770 million
— Raised full-year 2020 oil growth rate to the range of 7.5% to 9%, on a retained asset basis
— Expects oil production to average in the range of 158,000 to 163,000 barrels per day in the first-quarter 2020
Most Popular
Mattel (MAT): A look at the toymaker’s expectations for the year
Shares of Mattel, Inc. (NASDAQ: MAT) were up slightly on Thursday. The stock has gained 20% year-to-date and 19% over the past three months. There is a level of optimism
Earnings Preview: Paychex likely to report higher Q1 revenue and profit
Paychex Inc. (NASDAQ: PAYX), a leading provider of human capital management solutions, is all set to publish operating results for the first three months of fiscal 2024. The company has
DRI Earnings: Key quarterly highlights from Darden Restaurants’ Q1 2024 financial results
Darden Restaurants, Inc. (NYSE: DRI) reported first quarter 2024 earnings results today. Total sales increased 11.6% to $2.73 billion compared to the same period last year. Blended same-restaurant sales were