Devon Energy Corporation (DVN) Financials
Key financial figures for Devon Energy Corporation (Q2 2026).
Devon Energy's first full quarter as a combined company with Coterra Energy delivered $2.03 diluted EPS ($1.57 core) on $7.42 billion in revenue, beating oil production guidance at 503,000 bo/d. Net earnings of $1.9 billion ($2.03 diluted EPS); core (adjusted) earnings of $1.5 billion ($1.57 per share), both above analyst estimates of $1.49 core EPS and $5.99 billion revenue. Closed the merger with Coterra Energy on May 7, 2026, just 94 days after announcement; Q2 results reflect the combined portfolio for the first time. Production averaged 1,359,000 Boe/d (503,000 bo/d oil), reaching the top end of guidance on stronger-than-expected Delaware Basin well performance. Capital expenditures of $1,269 million came in 2% below the guidance midpoint on timing and cost management. On the outlook: Third-quarter 2026 total production guided to 1,660,000-1,690,000 Boe/d and oil production to 550,000-560,000 bo/d, with capital spending of $1,400-1,500 million; full-year 2026 guidance is unchanged from the June update, which tightened full-year oil production to 495,000-505,000 bo/d. Figures are for Q2 2026, as Devon Energy Corporation reported them.
- Revenue
- $7.4B
- Net Income
- $1.9B
- EPS
- $2.04
- Total Assets
- $70.9B
- Operating Cash Flow
- $3.7B
Recent quarters
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| Q2 FY2026 | $7.4B | $1.9B | $2.03 | 34.5% | -$373M |
| Q1 FY2026 | $3.8B | $120M | $0.19 | 8.2% | $626M |
| Q4 FY2025 | $4.1B | $562M | $0.90 | 20.41% | $601M |
| Q3 FY2025 | $4.3B | $687M | $1.09 | 22.67% | $820M |
| Q2 FY2025 | $4.3B | $899M | $1.41 | 22.9% | $589M |
Recent fiscal years
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| FY2025 | $17.2B | $2.6B | $4.20 | 22.43% | $2.8B |
| FY2024 | $15.9B | $2.9B | $4.57 | 26.24% | -$853M |
| FY2023 | $15.3B | $3.7B | $5.84 | 32.37% | $2.6B |
Frequently asked questions
What was Devon Energy Corporation's revenue last quarter?
Devon Energy Corporation reported revenue of $7.42 billion for Q2 FY2026, up 73.1% from the same period a year earlier.
Is Devon Energy Corporation profitable?
Yes. Devon Energy Corporation reported net income of $1.91 billion for Q2 FY2026, a net margin of 25.77% on revenue.
How has Devon Energy Corporation's margin trended?
Operating margin was 34.5% in Q2 FY2026, compared with 22.9% in the same period a year earlier. The quarter by quarter series is on the SentiSense financials page.
How much free cash flow did Devon Energy Corporation generate?
Devon Energy Corporation generated free cash flow of -$373.0 million in Q2 FY2026, after capital expenditure.
Full income statement, balance sheet and cash flow for Devon Energy Corporation on SentiSense, with up to forty quarters and twenty fiscal years of history.