Recap: Devon Energy Q4 Earnings
Portfolio Pulse from Benzinga Insights
Devon Energy (NYSE:DVN) reported its Q4 earnings on February 27, 2024, with an EPS of $1.41, exactly meeting the estimated earnings but showing a revenue decrease of $154 million from the previous year. The company's past earnings performance indicates variability in meeting EPS estimates and revenue figures.
February 27, 2024 | 9:35 pm
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Devon Energy reported Q4 earnings with an EPS of $1.41, meeting estimates, but saw a decrease in revenue compared to last year.
Devon Energy's Q4 earnings report showed the company meeting its EPS estimates but experiencing a significant drop in revenue compared to the previous year. Historically, the company's stock price dropped by 2.0% the day after beating EPS estimates last quarter, indicating that investors may react negatively to revenue decreases. However, the exact match to EPS estimates this quarter suggests a neutral short-term impact on the stock price, as the negative revenue performance might be balanced by meeting earnings expectations.
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