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Devon Energy(DVN) - 2024 Q3 - Earnings Call Presentation
2024-02-29 05:00
业绩总结 - FQ3 2024 净销售额为170百万美元,较去年同期增长了7.9%[6] - FQ3 2024 营业利润率为4.7%,较去年同期增加了190个基点[6] - FQ3 2024 订单量同比增长了29.4%[6] - FQ3 2024 经营现金流为9,478千美元,较去年同期下降了23.9%[6] - FQ3 2024 净债务为27,227千美元,较去年同期增长了310.9%[6] - FQ3 2024 营运资本为205,269千美元,较去年同期增长了58.6%[6] - FQ4 2024 净销售额预计将与去年同期相似,营业利润率和现金流预计将下降[17] 未来展望 - FQ4 2024 净销售额预计将与去年同期相似,营业利润率和现金流预计将下降[17] 新产品和新技术研发 - 调整后的净收入是一项非GAAP财务指标,用于报告我们的结果,排除非一次性或非核心的项目[23] - 调整后的净收入是一项非GAAP财务指标,用于报告我们的结果,排除非一次性或非核心的项目[24]
Devon Energy(DVN) - 2023 Q4 - Earnings Call Transcript
2024-02-29 04:59
财务数据和关键指标变化 - 2023年第四季度营业现金流达17亿美元,创下全年最高 [29] - 全年自由现金流达27亿美元,创下公司50多年历史新高 [29] - 2023年第四季度自由现金流达8.27亿美元 [29] 各条业务线数据和关键指标变化 - 2023年全年油气产量增长8%,创下历史新高 [8] - 德拉瓦盆地2023年第四季度资本支出占比约60%,运营16口钻机 [17] - 德拉瓦盆地2023年第四季度新投产62口井,生产效率同比提升6% [17] - 鹰福德盆地2023年产量同比增长56%,单位产品成本下降15% [23][24] - 落基山地区2023年产量增长8%,现金流贡献300百万美元 [26] - 阿纳达科盆地2023年产量增长8%,运营3口钻机 [27] 各个市场数据和关键指标变化 - 2024年计划将约70%资本部署至新墨西哥州,较2023年大幅提升 [11] - 2024年计划在德拉瓦盆地实现10%的生产效率提升 [10][21] 公司战略和发展方向及行业竞争 - 公司将维持稳定的资本支出计划,以优化回报并保持2023年退出水平的产量 [9] - 公司有望在2024年实现10%的资本效率提升,WTI平价成本约40美元 [9] - 公司有望在未来多年持续产生丰厚的自由现金流,现金回报率可达3倍于大盘 [13][14] - 公司看好未来能源需求增长,认为油气行业将是重要的能源供给来源 [15] 管理层对经营环境和未来前景的评论 - 管理层对2023年第四季度和全年的经营表现感到非常自豪 [7] - 管理层认为2024年将是又一个出色的一年,资本效率有望大幅提升 [37] - 管理层对公司深厚的资源基础和在德拉瓦盆地的优势地位充满信心 [12] - 管理层认为当前能源行业估值被严重低估,是非常好的股票回购机会 [13][14][19] 问答环节重要的提问和回答 问题1 **Neil Mehta 提问** 询问公司是否已经到达了操作层面的拐点,是否有信心实现2024年315,000桶/日的原油产量目标 [41][42] **Rick Muncrief 和 Clay Gaspar 回答** 公司有信心实现2024年的原油产量目标,主要得益于德拉瓦盆地的生产效率提升 [43][45] 问题2 **Arun Jayaram 提问** 询问公司预计德拉瓦盆地2024年生产效率提升10%的主要驱动因素 [49] **Clay Gaspar 回答** 主要得益于将资本重点部署至新墨西哥州核心区域,以及持续优化完井工艺 [50][51] 问题3 **Kevin MacCurdy 提问** 询问2024年资本支出预算范围较2023年有所扩大的原因 [86][87] **Clay Gaspar 回答** 上限主要受供应链通缩带来的机会所致,下限则可能受益于更多通缩效果 [87][88]
Devon Energy (DVN) Q4 Earnings & Revenues Surpass Estimates
Zacks Investment Research· 2024-02-28 22:36
财务表现 - Devon Energy Corp. (DVN)第四季度2023年每股收益为$1.41,超过了Zacks Consensus Estimate的$1.39,同比下降15.1%[1] - 第四季度总收入为41亿美元,超过了Zacks Consensus Estimate的38.7亿美元[2] - 第四季度净产量达到每日662,000桶油当量,同比增长4.1%[4] - 天然气液体产量同比增长14.2%,达到每日169,000桶[5] - 实现的油价为每桶76.98美元,天然气液体价格为每桶19.67美元,天然气价格为每千立方英尺2.02美元[6] - 第四季度总生产费用为7.59亿美元,同比增长6.2%[8] - 生产成本平均为每桶12.46美元,实现了每桶32.47美元的现场现金利润[10] 股东回报 - Devon Energy在2023年第四季度回购了520万股,总成本为2.34亿美元,计划减少流通股9%[9] - 管理层将固定股息提高了10%,至每股22美分,使固定加变动股息达到44美分,年化股息为1.76美元[11] 资金状况 - 截至2023年12月31日,公司现金及现金等价物为8.7亿美元,总流动性为39亿美元,长期债务为57亿美元[12] - Devon Energy第四季度经营活动现金流为17.3亿美元,资本支出为9.1亿美元,较上一季度增长13.2%[14] 未来展望 - 由于天气原因,公司预计第一季度产量将减少2%至每日640,000桶油当量[15] - 公司预计2024年总产量在640,000-660,000桶油当量/日范围内,2024年资本支出预计在33-36亿美元范围内[17]
Devon Energy (DVN) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
Zacks Investment Research· 2024-02-28 08:01
For the quarter ended December 2023, Devon Energy (DVN) reported revenue of $4.15 billion, down 3.6% over the same period last year. EPS came in at $1.41, compared to $1.66 in the year-ago quarter.The reported revenue represents a surprise of +7.11% over the Zacks Consensus Estimate of $3.87 billion. With the consensus EPS estimate being $1.39, the EPS surprise was +1.44%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...
Devon Energy (DVN) Beats Q4 Earnings and Revenue Estimates
Zacks Investment Research· 2024-02-28 07:36
Devon Energy (DVN) came out with quarterly earnings of $1.41 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $1.66 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.44%. A quarter ago, it was expected that this oil and gas exploration company would post earnings of $1.56 per share when it actually produced earnings of $1.65, delivering a surprise of 5.77%.Over the last four quar ...
Devon Energy Reports Fourth-Quarter and Full-Year 2023 Results; Declares Quarterly Dividend and Raises Fixed Dividend by 10 Percent in 2024
Newsfilter· 2024-02-28 05:05
OKLAHOMA CITY, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE:DVN) today reported financial and operational results for the fourth-quarter and full-year 2023. The company also declared its quarterly dividend and provided an outlook for 2024. Devon's earnings release, supplemental financial tables, guidance and related earnings presentation can be accessed via the Investor Relations section of Devon's website, www.devonenergy.com. The company's fourth-quarter conference call will be held at 10:00 ...
Devon Energy(DVN) - 2023 Q4 - Annual Report
2024-02-28 00:00
Index to Financial Statements UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-32318 DEVON ENERGY CORPORATION (Exact name of registrant as specified in its charter) Delaware 73-1567067 (State or other jurisdiction of ...
Devon Energy(DVN) - 2023 Q4 - Annual Results
2024-02-27 00:00
Exhibit 99.2 Devon Energy Fourth-Quarter 2023 Supplemental Tables TABLE OF CONTENTS: PAGE: Consolidated Statements of Earnings 2 Supplemental Information for Consolidated Statements of Earnings 3 Consolidated Balance Sheets 4 Consolidated Statements of Cash Flows 5 Production 6 Capital Expenditures, Costs Incurred and Reserves Reconciliation 7 Supplemental Information for Capital Expenditures 8 Realized Pricing 9 Asset Margins 10 Core Earnings 11 Return on Capital Employed and EBITDAX 12 Net Debt, Net Debt- ...
Devon Energy (DVN) to Post Q4 Earnings: What's in Store?
Zacks Investment Research· 2024-02-24 02:06
Devon Energy Corporation (DVN) is set to report fourth-quarter 2023 results on Feb 27, after market close. This oil and gas company delivered an average earnings surprise of 1.63% in the last four reported quarters.Let us discuss the factors that are likely to have affected the company's quarterly performance.Factors at PlayDevon Energy’s fourth-quarter production volumes are expected to have fallen sequentially due to a decline in production volumes in the Williston Basin and timing of completions in the D ...
Devon Energy Corporation (DVN) Is a Trending Stock: Facts to Know Before Betting on It
Zacks Investment Research· 2024-02-22 23:06
股票表现 - 近期关注度较高的 Devon Energy (DVN) 股票表现良好,但需要关注可能影响其短期表现的因素[1] - Devon Energy 当前季度预计每股盈利为1.39美元,同比下降16.3%[5] - 公司当前财年的一致盈利预期为5.67美元,同比下降31.8%[6] - 下一个财年的一致盈利预期为5.34美元,同比下降5.8%[7] 盈利预期 - Zacks.com 重点关注公司的盈利预期修订情况,认为股票的公允价值取决于未来盈利的现值[3] - 分析显示,当公司的盈利预期上升时,股票的公允价值也会上升,导致投资者购买股票,从而推动股价上涨[4] - 公司过去四个季度中,三次超过一致盈利预期,但未能超过一致营收预期[13] 评级和估值 - 根据 Zacks Rank,考虑到最近的一致预期变化以及其他三个与盈利预期相关的因素,Devon Energy 被评为 Zacks Rank 5 (强烈卖出)[8] - Devon Energy 的估值显示公司相对同行处于折价状态,Zacks Value Style Score 评级为 B[17] - 总体来看,虽然市场对 Devon Energy 的关注度较高,但 Zacks Rank 5 暗示其短期可能表现不佳[18]