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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 4.02B | 2.7% |
| Gross Profit | 3.9B | 2.5% |
| Cost of Revenue | 126M | 9.6% |
| Operating expense | 130M | 2.3% |
| Net Income | 812M | 3.8% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 30.3B | 20.3% |
| Total Liabilities | 16B | 26.8% |
| Total Equity | 14.3B | 13.8% |
| Shares Outstanding | 622M | 0.6% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | 1.66B | 8.3% |
| Cash from investing | -4.35B | 326.8% |
| Cash from financing | 2.19B | 542.8% |
EPS
Financial Highlights for Devon Energy in Q3 '24
Devon Energy reported a revenue of 4.02B, which is a 2.7% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 3.9B, marking a 2.5% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 126M, a 9.6% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 130M, showing a -2.3% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 812M, showing a -3.8% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
Devon Energy faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. An increase in the cost of revenue, higher than the revenue growth, suggests potential margin pressures. A decline in EBITDA signals potential operational challenges or increased costs.
