Summary:

– Devon Energy earned $656M in Q3, beating estimates by $0.10 per share.

– Generated $1.7B operating cash flow and returned $401M to shareholders.

– CEO Gaspar’s optimization program is ahead, lowering 2026 capital needs.

Oklahoma City -based Devon Energy released third-quarter earnings on Wednesday, beating analysts’ expectations with net income of $656 million, or $1.04 per share, as new Chief Executive Clay Gaspar continues his push for fiscal discipline and operational efficiency .

“We exceeded the midpoint of guidance on every key metric, including production, operating costs, and capital,” said Gaspar, who took over leadership of the $20 billion company in March.

“These results mark our strongest performance of the year, highlighting the exceptional quality of

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