Devon Energy Q1 Adj $1.16 Beats $1.11 Estimate, Sales $3.60B Beat $3.47B Estimate
Portfolio Pulse from Benzinga Newsdesk
Devon Energy (NYSE:DVN) reported Q1 earnings of $1.16 per share, surpassing the $1.11 estimate, and sales of $3.60B, exceeding the $3.47B estimate. This represents a decrease from last year's earnings and sales.
May 01, 2024 | 8:41 pm
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Devon Energy reported higher-than-expected Q1 earnings and sales, with earnings of $1.16 per share and sales of $3.60B, beating estimates.
Beating both earnings and sales estimates typically leads to a positive short-term impact on a company's stock price. Despite the year-over-year decrease in earnings and sales, the fact that Devon Energy exceeded analyst expectations could lead to increased investor confidence and a potential uptick in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100