Devon Energy 4Q Profit, Revenue Slip Ahead of Coterra Merger

Dow Jones

Feb 18

By Amira McKee

Devon Energy had a decline in fourth-quarter profit and revenue ahead of its $21.5 billion all-stock merger with Coterra Energy.

The oil and natural gas company reported net income of $562 million, or 90 cents a share, compared with $639 million, or 98 cents a share, a year earlier.

Adjusted earnings came in at 82 cents a share. Analysts polled by FactSet were expecting 80 cents a share.

Revenue fell 6% to $4.12 billion.

Production averaged 851,000 barrels of oil equivalent per day in the fourth quarter, exceeding the top-end of guidance. Devon attributed the results to better-than-expected well performance, primarily in the Delaware Basin.

Oil production totaled 390,000 barrels per day in the quarter, above the top-end of the company's guidance.

The Oklahoma City company expects capital expenditures for this year to be in the range of $3.5 billion to $3.7 billion. For 2026, Wall Street is anticipating capital expenditures of $4.21 billion, according to FactSet.

Devon Energy expects its merger with Coterra Energy to close in the second quarter. The joint company, to be named Devon Energy, is expected to leverage enhanced scale to improve margins, increase free cash flow and accelerate cash returns.

Write to Amira McKee at amira.mckee@wsj.com

(END) Dow Jones Newswires

February 17, 2026 17:16 ET (22:16 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The joint company, to be named Devon Energy, is expected to leverage enhanced scale to improve margins, increase free cash flow and accelerate cash returns. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Amira McKee at amira.mckee@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 17, 2026 17:16 ET (22:16 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DVN","symbol_name":"德文能源","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2612495446","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2612495446","pubTimestamp":1771366560,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Devon Energy had a decline in fourth-quarter profit and revenue ahead of its $21.5 billion all-stock merger with Coterra Energy.The oil and natural gas company reported net income of $562 million, or 90 cents a share, compared with $639 million, or 98 cents a share, a year earlier.Adjusted earnings came in at 82 cents a share. 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For 2026, Wall Street is anticipating capital expenditures of $4.21 billion, according to FactSet.Devon Energy expects its merger with Coterra Energy to close in","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"DVN":"德文能源"},"translate_title":"德文能源公司第四季度利润和收入在Coterra合并前下滑","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DVN":1.5},"content_text":"By Amira McKee \n\n\n \n\n\n  Devon Energy had a decline in fourth-quarter profit and revenue ahead of its $21.5 billion all-stock merger with Coterra Energy. \n\n\n  The oil and natural gas company reported net income of $562 million, or 90 cents a share, compared with $639 million, or 98 cents a share, a year earlier. \n\n\n  Adjusted earnings came in at 82 cents a share. Analysts polled by FactSet were expecting 80 cents a share. \n\n\n  Revenue fell 6% to $4.12 billion. \n\n\n  Production averaged 851,000 barrels of oil equivalent per day in the fourth quarter, exceeding the top-end of guidance. Devon attributed the results to better-than-expected well performance, primarily in the Delaware Basin. \n\n\n  Oil production totaled 390,000 barrels per day in the quarter, above the top-end of the company's guidance. \n\n\n  The Oklahoma City company expects capital expenditures for this year to be in the range of $3.5 billion to $3.7 billion. For 2026, Wall Street is anticipating capital expenditures of $4.21 billion, according to FactSet. \n\n\n  Devon Energy expects its merger with Coterra Energy to close in the second quarter. The joint company, to be named Devon Energy, is expected to leverage enhanced scale to improve margins, increase free cash flow and accelerate cash returns. \n\n\n \n\n\n  Write to Amira McKee at amira.mckee@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 17, 2026 17:16 ET (22:16 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}