Energy

Devon Energy (NYSE:DVN) Sets Record Oil Production in Q2, Expects To Sustain For Full Year

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Devon Energy (NYSE:DVN) reported quarterly earnings of $1.18 per share, which beat the analyst consensus estimate of $1.17, a 54.44% decrease over earnings of $2.59 per share from last year. Devon also reported that oil production reached an all-time high of 323,000 barrels per day in the second quarter. The company expects to sustain production in the range of 643,000 to 663,000 Boe per day for the full-year 2023. Furthermore, operating cash flow totaled $1.4 billion in the second quarter, which funded all the company’s capital requirements. The result was $326 million of free cash flow for the quarter.

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Chevron (NYSE:CVX) Q2 Adjusted Earnings, Revenue Decline

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Chevron (NYSE:CVX) reported Q2 adjusted earnings Friday of $3.08 per diluted share, down from $5.82 a year earlier. Analysts polled by Capital IQ expected $2.98. Revenue for the quarter ended June 30 was $48.90 billion compared with $68.76 billion a year earlier. Analysts surveyed by Capital IQ estimated $48.00 billion. Chevron said its board declared a quarterly dividend of $1.51 per share, payable Sept. 11 to shareholders on record as of Aug. 18.

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Enphase Energy (NASDAQ:ENPH) Q2 Non-GAAP EPS, Revenue Gain; Authorizes $1 Billion Share Buyback Plan

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Enphase Energy (NASDAQ:ENPH)  reported Q2 non-GAAP diluted earnings per share of $1.47, up from $1.07 a year earlier. Analysts polled by Capital IQ expected a normalized EPS of $1.27. Revenue for the quarter ended June 30 was $711.1 million, up from $530.2 million a year ago. Analysts surveyed by Capital IQ expected $726 million. The company has authorized an additional $1 billion share buyback program that expires on July 26, 2026. For Q3, the company expects revenue in the range of $550 million to $600 million versus the Street’s estimates of $743.6 million

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First Solar (NASDAQ:FSLR) Q2 Earnings, Revenue Increase; Reiterates Outlook

/ / Energy /

First Solar (NASDAQ:FSLR) reported Q2 earnings of $1.59 per diluted share, up from $0.52 a year earlier. Analysts polled by Capital IQ expected $0.94. Net sales for the quarter ended June 30 were $810.7 million, up from $621 million a year earlier. Analysts surveyed by Capital IQ expected $719.4 million. The company reiterated its 2023 EPS guidance between $7.00 and $8.00 and also reaffirmed revenue outlook of between $3.4 billion and $3.6 billion. Analysts polled by Capital IQ expect $7.22 and $3.46 billion.

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