After a first quarter cash flow of $1.7 billion and net earnings of $596 million, or $0.94 per diluted share, Devon Energy prepares to release its second quarter earnings of the year.
The Oklahoma City company plans to release its earnings report on Tuesday, August 6 after the close of U.S. financial markets. The earnings release and presentation for the second-quarter 2024 results will be available on the company’s website at www.devonenergy.com.
Company leadership plans to hold a conference call at 10 a.m. Central Time on Wednesday, August 7 at which time executives will answer questions from analysts and investors.
With its major effort in the Delaware Basin, the company saw a 4% year over year increase in cash flow during the first quarter. It also indicated at the time that adjusting for items analysts
typically exclude from estimates, the company’s core earnings were $730 million, or $1.16 per diluted share.
As a result of the first quarter success, Devon also raised its second quarter and full-year 2024 guidance.
“This improved outlook raises production targets and increases free cash flow projections, which will enhance our ability to accelerate the return of capital to shareholders,” stated Rick Muncrief, president and CEO.