Oil and gas exploration company Devon Energy Corporation (NYSE: DVN) has announced financial results for the first quarter of 2023.
- Total revenues edged up to $3.82 billion in the March quarter from $3.81 billion in the same period of 2022
- Net income was $995 million or $1.53 per share in Q1, compared to $989 million or $1.48 per share last year
- Oil production reached an all-time high of 320,000 barrels per day during the three-month period
- The Exotic Cat Raider project achieved per-well rates as high as 7,200 Boe per day
- Operating cash flow was $1.7 billion and free cash flow reached $665 million in the first quarter
- Devon’s board of directors increased the share-repurchase authorization by 50% to $3.0 billion
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Earnings Preview: What to look for when Netflix (NFLX) reports Q4 2025 results
Netflix, Inc. (NASDAQ: NFLX) is expected to report Q4 results on January 20, amid expectations for strong revenue and earnings growth. The company is navigating a shifting streaming landscape where
What to look for when United Airlines (UAL) reports its Q4 2025 earnings results
Shares of United Airlines (NASDAQ: UAL) stayed red on Thursday. The stock has gained 15% over the past three months. The airline is scheduled to report its earnings results for
Infographic: How Constellation Brands (STZ) performed in Q3 2026
Constellation Brands, Inc. (NYSE: STZ) reported net sales of $2.22 billion for the third quarter of 2026, down 10% year-over-year. Organic net sales were down 2%. Net income attributable to
