Stock Analysis on Net

Devon Energy Corp. (NYSE:DVN)

This company has been moved to the archive! The financial data has not been updated since November 8, 2023.

Income Statement 
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Devon Energy Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Oil, gas and NGL sales 2,882 2,493 2,679 3,139 3,668 4,100 3,175 2,954 2,635 2,154 1,788 786 678 424 807 1,035 919 936 919 2,565 1,332 1,069 1,319
Oil, gas and NGL derivatives (194) (76) 64 (53) 248 (170) (683) 22 (335) (703) (528) (117) (87) (361) 720 (116) 127 140 (605)
Marketing and midstream revenues 1,148 1,037 1,080 1,213 1,516 1,696 1,320 1,585 1,166 966 502 611 476 331 560 670 700 730 765 1,143 1,247 1,180 879
Revenues 3,836 3,454 3,823 4,299 5,432 5,626 3,812 4,561 3,466 2,417 1,762 1,280 1,067 394 2,087 1,589 1,746 1,806 1,079 3,708 2,579 2,249 2,198
Production expenses (757) (719) (693) (715) (735) (729) (618) (574) (555) (513) (489) (271) (271) (263) (318) (324) (294) (296) (283) (556) (554) (572) (543)
Marketing and midstream expenses (1,160) (1,051) (1,105) (1,231) (1,525) (1,700) (1,324) (1,585) (1,165) (965) (523) (618) (478) (339) (578) (665) (684) (713) (750) (1,113) (1,217) (1,160) (873)
Cost of revenues (1,917) (1,770) (1,798) (1,946) (2,260) (2,429) (1,942) (2,159) (1,720) (1,478) (1,012) (889) (749) (602) (896) (989) (978) (1,009) (1,033) (1,669) (1,771) (1,732) (1,416)
Gross profit (loss) 1,919 1,684 2,025 2,353 3,172 3,197 1,870 2,402 1,746 939 750 391 318 (208) 1,191 600 768 797 46 2,039 808 517 782
Exploration expenses (3) (10) (3) (13) (4) (10) (2) (5) (3) (3) (3) (4) (39) (12) (112) (29) (18) (7) (4) (44) (32) (68) (33)
Depreciation, depletion and amortization (651) (638) (615) (625) (581) (528) (489) (577) (578) (536) (467) (301) (299) (299) (401) (382) (381) (374) (360) (423) (416) (420) (399)
Asset impairments (27) (2,666) (2) (154)
Asset dispositions 41 29 14 1 49 87 32 1 1 2 45 268 6 (23) 12
General and administrative expenses (99) (92) (106) (122) (95) (84) (94) (95) (95) (94) (107) (82) (75) (79) (102) (119) (107) (114) (135) (151) (147) (153) (199)
Restructuring and transaction costs (28) (18) (23) (189) (17) (32) (11) (10) (12) (51) (9) (11) (94)
Other, net (13) (10) (5) 4 40 (10) 61 2 (2) 14 29 (1) (13) 48 (16) (3) (7) 22 (126) 31 (24) (21)
Operating income (loss) 1,153 975 1,296 1,626 2,532 2,579 1,347 1,748 1,050 384 45 (40) (127) (611) (2,042) 43 250 285 (437) 1,554 237 (419) 142
Financing costs, net (81) (78) (72) (73) (67) (84) (85) (86) (86) (80) (77) (70) (66) (69) (65) (64) (60) (66) (60) (70) (75) (62) (387)
Earnings (loss) from continuing operations before income taxes 1,072 897 1,224 1,553 2,465 2,495 1,262 1,662 964 304 (32) (110) (193) (680) (2,107) (21) 190 219 (497) 1,484 162 (481) (245)
Income tax (expense) benefit (152) (199) (221) (349) (565) (557) (267) (150) (120) (43) 248 37 90 3 417 33 (54) (68) 119 (335) 138 7 34
Net earnings (loss) from continuing operations 920 698 1,003 1,204 1,900 1,938 995 1,512 844 261 216 (73) (103) (677) (1,690) 12 136 151 (378) 1,149 300 (474) (211)
Net earnings (loss) from discontinued operations, net of income taxes (25) 13 9 (125) (652) (27) 344 61 2,263 139 58
Net earnings (loss) 920 698 1,003 1,204 1,900 1,938 995 1,512 844 261 216 (98) (90) (668) (1,815) (640) 109 495 (317) 1,149 2,563 (335) (153)
Net earnings attributable to noncontrolling interests (10) (8) (8) (3) (7) (6) (6) (6) (6) (5) (3) (4) (2) (2) (1) (2) (26) (90) (44)
Net earnings (loss) attributable to Devon 910 690 995 1,201 1,893 1,932 989 1,506 838 256 213 (102) (92) (670) (1,816) (642) 109 495 (317) 1,149 2,537 (425) (197)

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Devon Energy Corp. revenues decreased from Q1 2023 to Q2 2023 but then increased from Q2 2023 to Q3 2023 exceeding Q1 2023 level.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Devon Energy Corp. operating income (loss) decreased from Q1 2023 to Q2 2023 but then increased from Q2 2023 to Q3 2023 not reaching Q1 2023 level.
Earnings (loss) from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Devon Energy Corp. earnings (loss) from continuing operations before income taxes decreased from Q1 2023 to Q2 2023 but then increased from Q2 2023 to Q3 2023 not reaching Q1 2023 level.
Net earnings (loss) attributable to Devon The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Devon Energy Corp. net earnings (loss) attributable to Devon decreased from Q1 2023 to Q2 2023 but then increased from Q2 2023 to Q3 2023 not reaching Q1 2023 level.