Filing Flows › Devon Energy (DVN) › Q3 2026 › vs Q2 2026
Devon Energy (DVN) Q3 2026 vs Q2 2026 (quarter over quarter)
Devon Energy's revenue fell $557M (-8%) from $7.4B in Q2 2026 to $6.9B in Q3 2026. The biggest changes: Revenue from contracts with customers +$771M (+11%). Operating margin 18.3% against 32.1% (-13.9 pts).
Devon Energy, Q3 2026: revenue $6.9B (+58% year over year), operating margin 18.3%, net earnings $1.0B, operating cash flow $2.8B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 18.3% | 32.1% | -13.9 pts |
| Net margin | 14.7% | 25.8% | -11.1 pts |
| Free cash flow margin | 19.6% | 31.8% | -12.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Oil Gas and NGL Sales | $5.9B | $5.1B | $833M | +16% |
| Marketing and Midstream Revenues | $1.8B | $1.9B | −$62.0M | -3% |
| Revenue from contracts with customers | $7.8B | $7.0B | $771M | +11% |
| Revenue | $6.9B | $7.4B | −$557M | -8% |
| Other revenues (net loss) | $914M | −$414M | $1.3B | — |
| Operating profit | $1.3B | $2.4B | −$1.1B | -47% |
| Costs & expenses | $5.6B | $5.0B | $575M | +11% |
| Pre-tax earnings | $1.3B | $2.4B | −$1.1B | -47% |
| General & admin | $180M | $175M | $5.0M | +3% |
| Other operating costs | $5.4B | $4.9B | $570M | +12% |
| Net earnings | $1.0B | $1.9B | −$903M | -47% |
| Income tax | $244M | $473M | −$229M | -48% |
| Depreciation & amortization | $1.7B | $1.4B | $268M | +19% |
| Share-based compensation | $51.0M | $71.0M | −$20.0M | -28% |
| Working capital & other | $65.0M | $276M | −$211M | -76% |
| Operating cash flow | $2.8B | $3.7B | −$866M | -24% |
| Free cash flow (OCF − capex) | $1.3B | $2.4B | −$1.0B | -43% |
| Capital expenditures | $1.5B | $1.3B | $146M | +11% |
Questions
How much did Devon Energy's revenue grow quarter over quarter in Q3 2026?
Devon Energy's revenue fell $557M (-8%) from $7.4B in Q2 2026 to $6.9B in Q3 2026.
What drove Devon Energy's revenue change in Q3 2026?
Revenue from contracts with customers +$771M (+11%).