Devon Energy Q2 FY26 net earnings rise to $1.9 billion; oil, gas and NGL sales total $5.1 billion
DVN•Quarterly earnings and cash flow
Devon Energy posted Q2 2026 net earnings of $1.9 billion, or $2.03 per diluted share; core earnings were $1.5 billion, or $1.57 per share.
Operating cash flow totaled $3.7 billion (GAAP); adjusted operating cash flow was $2.9 billion, with $1.7 billion of adjusted free cash flow.
Coterra merger and synergy target
Devon closed the Coterra merger on May 7 and targets at least $1 billion in annual pre-tax run-rate synergies by year-end 2027.
Production, spending and shareholder returns
Capital spending was $1.27 billion, with production averaging 1,359,000 Boe per day, including 503,000 barrels of oil per day.
Devon returned $1.06 billion via a $0.32-per-share dividend and share repurchases; it repurchased for under a new program.
