Devon Energy Corp. Q4 Profit Decreases, misses estimates

(RTTNews) – Devon Energy Corp. (DVN) released a profit for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company’s earnings totaled $1.20 billion, or $1.83 per share. This compares with $1.51 billion, or $2.23 per share, in last year’s fourth quarter.

Excluding items, Devon Energy Corp. reported adjusted earnings of $1.09 billion or $1.66 per share for the period.

Analysts on average had expected the company to earn $1.75 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 0.7% to $4.30 billion from $4.27 billion last year.

Devon Energy Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $1.20 Bln. vs. $1.51 Bln. last year.
-EPS (Q4): $1.83 vs. $2.23 last year.
-Analyst Estimates: $1.75
-Revenue (Q4): $4.30 Bln vs. $4.27 Bln last year.