Filing Flows › Devon Energy (DVN) › Q2 2026
Devon Energy (DVN) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Devon Energy (DVN) reported revenue of $7.4B for the second quarter 2026 (Q2 2026), +73% from a year earlier and +95% from the quarter before. Operating margin was 32.1%, net earnings $1.9B (25.8% of revenue).
Devon Energy, Q2 2026: revenue $7.4B (+73% year over year), operating margin 32.1%, net earnings $1.9B, operating cash flow $3.7B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.4B | +95% | +73% |
| Operating profit | $2.4B | 14× | +105% |
| Net earnings | $1.9B | 16× | +108% |
| Operating cash flow | $3.7B | +122% | +138% |
| Free cash flow | $2.4B | +189% | +300% |
What changed
Revenue was $7.4B in Q2 2026, up 73% year over year and up 95% from the previous quarter. Oil Gas and NGL Sales was the largest line at 69% of revenue. Oil Gas and NGL Sales added $2.4B year over year (up 88%), 76% of the total change.
Operating profit was $2.4B, a 32.1% margin (up 5.0 points year over year). Of the extra revenue versus Q2 2025, 39% reached operating profit, above the 27% margin then. Total costs grew 61% against revenue growth of 73%. The fastest-growing cost line was Other operating costs (+61%). Net earnings were $1.9B, up 113% year over year. The effective tax rate was 19.8%.
Operating cash flow was $3.7B (up 138% year over year), 192% of net earnings. Non-cash charges added back $1.4B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items added $0.28B. Capital expenditures of $1.3B left free cash flow of $2.4B.
Questions
What was Devon Energy's revenue in the second quarter 2026?
Devon Energy (DVN) reported revenue of $7.4B for the second quarter 2026 (Q2 2026), +73% from a year earlier and +95% from the quarter before.
Was Devon Energy profitable in the second quarter 2026?
Operating profit was $2.4B (32.1% of revenue) and net earnings $1.9B.
Source: Devon Energy 10-Q on SEC EDGAR.