NYSE$DVN
Devon Energy Corp · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Devon Energy strengthened its business and delivered systematic execution, exceeding guidance expectations and returning record amounts of cash to shareholders.
Devon Energy reported strong second-quarter 2022 results, with net earnings of $1.9 billion, core earnings of $1.7 billion, and operating cash flow of $2.7 billion. Free cash flow reached a record high of $2.1 billion, and the company increased its fixed-plus-variable dividend by 22 percent to $1.55 per share. The company also updated its full-year 2022 guidance, raising production targets and increasing free cash flow projections.
- Fixed-plus-variable dividend increased by 22 percent to record high of $1.55 per share.
- Share-repurchase program retired 4 percent of outstanding shares since inception.
- Delaware Basin drove second-quarter results that were favorable to guidance on production and capital.
- Operating cash flow more than doubled year over year and free cash flow reached the highest level in Devon history.
Headline financials
Revenue & EPS history
Devon Energy · Revenue · Quarterly
$5.63B
Forward guidance
Devon is raising its full-year 2022 production forecast by 3 percent to a range of 600,000 to 610,000 Boe per day. Devon expects its capital to be fully funded from operating cash flow, which is forecasted to be nearly $9 billion at current strip pricing.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
-0.0%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+2.9%
Avg return
30 days after
55%
40 / 73 earnings
Positive
+13.6%
Q2 2020
Best reaction
-12.8%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.7% | -8.3% | -13.2% | |
| Q4 2025 | +1.5% | -0.8% | +10.5% | |
| Q3 2025 | +0.4% | +8.7% | +15.9% | |
| Q2 2025 | -0.2% | +2.7% | +7.1% | |
| Q1 2025 | -1.1% | +9.7% | +5.6% | |
| Q4 2024 | +7.7% | +7.0% | +3.6% | |
| Q3 2024 | +2.2% | -0.7% | -8.1% | |
| Q2 2024 | +4.1% | +8.3% | +1.4% | |
| Q1 2024 | -1.6% | -0.6% | -4.1% | |
| Q4 2023 | +0.5% | +1.3% | +14.5% | |
| Q3 2023 | -5.4% | -2.4% | -7.0% | |
| Q2 2023 | -7.9% | -5.9% | -5.4% | |
| Q1 2023 | -2.4% | -5.6% | -0.6% | |
| Q4 2022 | -10.0% | -16.1% | -27.2% | |
| Q3 2022 | -12.8% | -7.6% | -11.7% | |
| Q2 2022 | -3.5% | -9.9% | +12.4% | |
| Q1 2022 | +10.5% | +19.8% | +31.5% | |
| Q4 2021 | +3.0% | +4.8% | +10.1% | |
| Q3 2021 | -0.0% | +3.8% | -1.0% | |
| Q2 2021 | -0.8% | +6.0% | +15.0% | |
| Q1 2021 | +6.8% | +11.0% | +32.0% | |
| Q4 2020 | +8.8% | +4.3% | +11.9% | |
| Q3 2020 | +10.2% | +19.0% | +82.5% | |
| Q2 2020 | +13.6% | +14.2% | -1.2% | |
| Q1 2020 | +0.6% | +11.2% | +11.4% | |
| Q4 2019 | -0.4% | -8.1% | -71.3% | |
| Q3 2019 | -2.2% | +1.5% | -2.2% | |
| Q2 2019 | +0.4% | -0.0% | -2.3% | |
| Q1 2019 | -2.7% | -4.5% | -21.2% | |
| Q4 2018 | +6.5% | +4.3% | +11.4% | |
| Q3 2018 | +2.3% | -0.3% | -16.2% | |
| Q2 2018 | -3.5% | -4.5% | -4.3% | |
| Q1 2018 | +5.2% | +4.2% | +14.4% | |
| Q4 2017 | -10.4% | -7.9% | -5.3% | |
| Q3 2017 | +8.6% | +9.1% | +7.0% | |
| Q2 2017 | +0.3% | +1.1% | -5.7% | |
| Q1 2017 | -2.9% | -3.3% | -12.8% | |
| Q4 2016 | -2.3% | -2.4% | -10.0% | |
| Q3 2016 | +4.4% | +6.1% | +26.3% | |
| Q2 2016 | +5.8% | +10.0% | +21.7% | |
| Q1 2016 | -9.4% | — | — | |
| Q4 2015 | -6.3% | — | — | |
| Q3 2015 | +7.8% | — | — | |
| Q2 2015 | -2.9% | — | — | |
| Q1 2015 | -2.2% | — | — | |
| Q4 2014 | -3.8% | — | — | |
| Q3 2014 | +5.3% | — | — | |
| Q2 2014 | -1.5% | — | — | |
| Q1 2014 | +1.1% | — | — | |
| Q4 2013 | +2.6% | — | — | |
| Q3 2013 | -6.3% | — | — | |
| Q2 2013 | +5.1% | — | — | |
| Q1 2013 | +2.9% | — | — | |
| Q4 2012 | -9.4% | — | — | |
| Q3 2012 | -9.4% | — | — | |
| Q2 2012 | -6.3% | — | — | |
| Q1 2012 | -5.9% | — | — | |
| Q4 2011 | +0.1% | — | — | |
| Q3 2011 | +5.8% | — | — | |
| Q2 2011 | -7.8% | — | — | |
| Q1 2011 | +0.4% | — | — | |
| Q4 2010 | +3.5% | — | — | |
| Q3 2010 | +3.8% | — | — | |
| Q2 2010 | -0.7% | — | — | |
| Q1 2009 | -4.3% | — | — | |
| Q1 2010 | +2.2% | — | — | |
| Q4 2007 | +0.7% | — | — | |
| Q4 2009 | +0.7% | — | — | |
| Q3 2009 | +1.4% | — | — | |
| Q3 2008 | +1.4% | — | — | |
| Q2 2009 | +0.9% | — | — | |
| Q2 2008 | +0.9% | — | — | |
| Q4 2008 | +0.9% | — | — |
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