By Freddy Sebastian

Devon Energy posted lower third-quarter profit but revenue rose as production climbed.

The oil and natural gas company reported $687 million in net income, or $1.09 a share, down from $899 million, or $1.41 a share, a year earlier.

Adjusted earnings were $1.04 a share. Analysts were expecting 93 cents, according to FactSet.

Devon Energy posted $4.33 billion in revenue, up from $4.28 billion the year prior. Analysts were expecting revenue of $4.14 billion.

Shares ticked up 1.1% to $32.70 in afterhours trading.

Production averaged 853,000 barrels of oil equivalent per day, up from 841,000 the year prior, and exceeding the top end of the company's guidance. Production gains were fueled by better-than-expected well performance primarily in the Rockies and Eagle Ford

For the fourth quarter, the company expects production to range from 828,000 to 844,000 barrels of oil equivalent per day, with oil production expected to range from 383,000 to 388,000 barrels per day.

In 2026, the company aims to maintain total production at about 835,000 to 855,000 barrels of oil equivalent per day, including about 388,000 barrels of oil per day.

Devon Energy anticipates capital requirements to decrease by $100 million from 2025 levels at between $3.5 billion to $3.7 billion.

Write to Freddy Sebastian at freddy.sebastian@wsj.com

(END) Dow Jones Newswires

November 05, 2025 17:53 ET (22:53 GMT)

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