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Devon Energy: Q4 Earnings Snapshot

By AP News - Feb 14, 2023, 05:03 PM ET

Last Updated - Jun 22, 2023, 09:40 PM EDT

OKLAHOMA CITY (AP) — OKLAHOMA CITY (AP) — Devon Energy Corp. (DVN) on Tuesday reported fourth-quarter net income of $1.2 billion.

The Oklahoma City-based company said it had net income of $1.83 per share. Earnings, adjusted for non-recurring gains, came to $1.66 per share.

The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.

The oil and gas exploration company posted revenue of $4.3 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $4.65 billion.

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