Devon Energy Corp. (DVN) reported a first-quarter net loss of $1.34 billion or $3.34 per share, compared to profit of $393 million or $0.97 per share last year. The company's quarterly loss was attributable to a $1.9 billion non-cash asset impairment charge primarily related to lower oil and natural gas liquids pricing. Adjusting for this non-cash charge and other items securities, net income was $270 million or $0.66 per share in the first quarter of 2013.
Total revenues decreased to $1.97 billion from $2.50 billion last year.
On average, 26 analysts polled by Thomson Reuters expected the company to report profit of $0.56 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $2.28 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.