Devon Energy reports Q1 core EPS $1.21, consensus $1.22

For the first quarter, Devon’s oil, gas and NGL sales totaled $3.1 billion, a 1 percent increase in revenues compared to the prior quarter.Achieved production of 388,000 barrels of oil per day, exceeding the top-end of guidance. “Devon delivered a strong first quarter, driven by operating excellence and financial discipline,” said Clay Gaspar, president and CEO. “Oil production once again exceeded our expectations driven by robust base performance and exceptional well results across ourassets. This resulted in significant free cash flow, with $464 million returned to shareholders through dividends and share buybacks. We stayed focused on capital allocation, prioritizing high-return investments to build sustainable value for shareholders with a resilient portfolio positioned to thrive in any market environment.”