Devon Energy Corporation · DVN · Next earnings

Devon Energy Corporation reports Wednesday, Nov 4, 2026

DVN reports after market close with consensus EPS at $1.18 and revenue at $6.37B. Last quarter: DVN Q1 2026: Revenue Misses 12% as FCF Holds Strong; Cotera Merger Nears Close

Reports After market close45 days awayDate estimated Energy

What the street expects

Consensus for the coming report
Consensus EPS $1.18 Calendar consensus
Consensus revenue $6.37B Calendar consensus
Report date Nov 4, 2026 Wednesday, date estimated
Session After market close 45 days away

Where DVN left off: FY2026 Q1

Full report

DVN Q1 2026: Revenue Misses 12% as FCF Holds Strong; Cotera Merger Nears Close

EPS surprise -1.9% Reported $1.04 vs $1.06
Revenue surprise -12.2% Reported $3.81B vs $4.34B
Stock move -8.6% Event window
Subsequent drift -1.3% Up to 20 sessions

Guidance was maintained. Production guidance of approximately 830,000 BOE/day was unchanged, and capex outlook moved from increasing to stable. Management did not revise full-year targets despite the revenue miss, reinforcing confidence in the full-year trajectory driven by merger synergies and operational efficiencies.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Commodity price volatility, especially oil and gas spreads, affecting cash flow and dividend sustainability
  • Exposure to negative Waha gas prices and related infrastructure constraints in the Permian
  • Integration risk and execution uncertainty surrounding the Cotera merger and achieving synergy targets
  • Uncertainty around future effective tax rates and cash tax guidance
  • Potential challenges in scaling AI initiatives across the combined asset base

Questions analysts left open

  • Details of portfolio review criteria and timeline for asset reallocation
  • Updated cash tax guidance and its impact on free cash flow
  • Degree of exposure to Waha gas prices and mitigation plans
  • Timeline and certainty of achieving $1 billion in synergies from the Cotera merger
  • Quantitative impact of AI-driven lift optimization on production levels

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Recent DVN quarters

All DVN earnings
-8.6%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.