uploads///DVN Q Pre EPS

Could Devon Energy Beat Its 2Q16 Earnings Expectations?



Devon Energy’s earnings trend

In 1Q16, excluding one-time items, Devon Energy (DVN) reported EPS (earnings per share) of -$0.53 per share, $0.10 better than the estimated EPS of -$0.63 per share. Its revenues fell ~35% year-over-year to ~$2.1 billion.

As seen in above chart, Devon Energy reported much lower EPS in 2015 due to lower realized crude oil (USO) and natural gas (UNG) prices. In 1Q16, Devon Energy saw its adjusted earnings turn negative for the first time since 1996. Since 2013, Devon Energy has beaten earnings expectations ~77% of the time.

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Other upstream players

Since 2013, upstream players SM Energy (SM), Pioneer Natural Resources (PXD), and Range Resources (RRC) have beaten earnings expectations ~38%, ~75%, and ~54% of the time, respectively.


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