Devon Energy (NYSE:DVN) First Quarter 2024 Results

Key Financial Results

• Revenue: US$3.57b (flat on 1Q 2023).

• Net income: US$596.0m (down 40% from 1Q 2023).

• Profit margin: 17% (down from 28% in 1Q 2023).

• EPS: US$0.95 (down from US$1.53 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Devon Energy EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are down 4.3% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Devon Energy has 3 warning signs (and 1 which is a bit unpleasant) we think you should know about.

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