Filing Flows › Devon Energy (DVN) › Q1 2025
Devon Energy (DVN) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Devon Energy (DVN) reported revenue of $4.5B for the first quarter 2025 (Q1 2025), +24% from a year earlier and +1% from the quarter before. Operating margin was 14.5%, net earnings $494M (11.1% of revenue).
Devon Energy, Q1 2025: revenue $4.5B (+24% year over year), operating margin 14.5%, net earnings $494M, operating cash flow $1.9B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.5B | +1% | +24% |
| Operating profit | $646M | -23% | -16% |
| Net earnings | $494M | -23% | -17% |
| Operating cash flow | $1.9B | +17% | +12% |
| Free cash flow | $1.0B | +37% | +19% |
What changed
Revenue was $4.5B in Q1 2025, up 24% year over year and up 1% from the previous quarter. Oil Gas and NGL Sales was the largest line at 70% of revenue. Oil Gas and NGL Sales added $0.50B year over year (up 19%), 58% of the total change.
Operating profit was $0.65B, a 14.5% margin (down 6.8 points year over year). Operating profit fell $0.12B even though revenue rose $0.86B versus a year earlier, so costs grew faster than sales. Total costs grew 35% against revenue growth of 24%. The fastest-growing cost line was Other operating costs (+35%). Net earnings were $0.49B, down 17% year over year. The effective tax rate was 21.2%.
Operating cash flow was $1.9B (up 12% year over year), 382% of net income including minority interests. Non-cash charges added back $0.91B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.49B. Capital expenditures of $0.93B left free cash flow of $1.0B.
Questions
What was Devon Energy's revenue in the first quarter 2025?
Devon Energy (DVN) reported revenue of $4.5B for the first quarter 2025 (Q1 2025), +24% from a year earlier and +1% from the quarter before.
Was Devon Energy profitable in the first quarter 2025?
Operating profit was $646M (14.5% of revenue) and net earnings $494M.
Source: Devon Energy 10-Q on SEC EDGAR.