Devon Energy Q1 Adj $1.16 Beats $1.11 Estimate
Portfolio Pulse from Benzinga Newsdesk
Devon Energy (DVN) reported Q1 adjusted earnings of $1.16 per share, surpassing the analyst consensus estimate of $1.11 by 4.5%. However, this represents a 20.55% decrease from the $1.46 per share earned in the same period last year.
May 01, 2024 | 8:16 pm
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Devon Energy reported a Q1 earnings beat but saw a decrease from last year's earnings.
While beating analyst estimates typically has a positive impact on stock prices, the significant year-over-year decrease in earnings may temper investor enthusiasm. The mixed results could lead to neutral short-term price movement as investors digest both the beat and the earnings decline.
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