Devon Energy (DVN) Q2 FY2026: Revenue $7.42B +73%, Net Income $1.91B +108%; Adj. EPS $1.57
Introduction
Devon Energy's $24.9 billion all-stock merger of equals with Coterra, which closed on May 7, 2026, reshaped Q2 results. Revenue reached $7.42 billion, up 73.1% year-over-year; net income reached $1.91 billion, up 108.4%; and total assets expanded to $70.89 billion, up 124.4%. Production averaged 1,359 MBoe/d for the quarter — near the top of guidance — as Coterra's legacy assets contributed 488 MBoe/d, with oil output of 503 MBbl/d.
