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AI brief of an SEC Form 8-K · Devon Energy (DVN)

Devon Energy Q1 net earnings fall to $120 million, or $0.19 per share, from $509 million

Mixed Impact 3 of 5 earnings Written later

Devon Energy reported first-quarter 2026 net earnings of $120 million, or $0.19 per diluted share, down from $509 million, or $0.77 per diluted share, a year earlier. The result reflects a $701 million loss on oil, gas and NGL derivatives, while core earnings, which exclude certain items, were $641 million, or $1.04 per diluted share. The company said its all-stock merger with Coterra Energy is expected to close on or around May 7, 2026, and it has suspended share repurchases until then.

Key points

  • Net earnings $120 million ($0.19 per diluted share) versus $509 million ($0.77) in Q1 2025; total revenues $3,807 million versus $4,452 million
  • Oil, gas and NGL derivatives produced a $701 million loss, including $644 million in valuation changes; core earnings were $641 million ($1.04 per diluted share)
  • Operating cash flow $1.7 billion and free cash flow $816 million; Q1 production 833,000 Boe per day, in line with guidance
  • Q2 2026 guidance: production 851,000 to 868,000 Boe per day and capital spending of about $900 million; no full-year 2026 guidance until combined-company guidance in mid-June 2026

The filing

CompanyDevon Energy (DVN)
Form8-K, current report
Filed with the SECMay 5, 2026, 4:58 PM ET
Accession number0001193125-26-206689

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 05, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.