10-QPeriod: Q2 FY2008

DEVON ENERGY CORP/DE Quarterly Report for Q2 Ended Jun 30, 2008

Filed August 7, 2008For Securities:DVN

Summary

Devon Energy Corp. (DVN) filed its 10-Q for the period ending June 30, 2008, providing investors with an update on its financial performance and operational activities during the second quarter and first half of the year. The report details the company's financial position, results of operations, and cash flows, as well as management's discussion and analysis of key trends and risks. Investors should pay close attention to the company's revenue generation, profitability, and liquidity. The filing covers unaudited consolidated financial statements, including balance sheets, income statements, comprehensive income, stockholders' equity, and cash flows. It also includes important disclosures on market risks, controls, legal proceedings, and risk factors. This information is crucial for understanding the company's current financial health and its outlook in the prevailing market conditions.

Financial Highlights

24 data points
Beta

Revenue

$3.55B

Net Income

$1.30B

36.7% Net Margin

EPS (Diluted)

$2.88

Cash & Equivalents

$1.84B

Free Cash Flow

$1.32B

Financial Statements
Beta
Revenue$3.55B
Operating Expenses$2.29B
Operating Income$1.25B
Net Income$1.30B
EPS (Basic)$2.91
EPS (Diluted)$2.88

Key Highlights

  • 1The filing includes comprehensive unaudited financial statements for the three and six months ended June 30, 2008, compared to the same periods in 2007.
  • 2Management's Discussion and Analysis (MD&A) provides insights into the company's financial condition, results of operations, and critical accounting policies.
  • 3Disclosures regarding market risk quantify the company's exposure to potential losses from changes in commodity prices, interest rates, and foreign currency exchange rates.
  • 4The report details any significant legal proceedings that could impact the company's financial standing.
  • 5Risk factors section outlines potential challenges and uncertainties that could affect Devon Energy's future business and financial performance.
  • 6Information on unregistered sales of equity securities and use of proceeds, if any, is presented.
  • 7Details on defaults upon senior securities, if any, are disclosed.

Frequently Asked Questions

The primary purpose of this 10-Q filing is to provide investors with an updated, unaudited view of Devon Energy's financial performance and position for the second quarter and the first six months of 2008, as well as to disclose any material changes or events that have occurred since the last annual report.

Key details on operational performance and financial results can be found in 'Item 1. Consolidated Financial Statements' and 'Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations'. The MD&A section, in particular, offers management's perspective on the company's performance drivers and outlook.

Investors should review 'Item 1A. Risk Factors' for a comprehensive understanding of potential risks. These could include, but are not limited to, volatility in energy prices, regulatory changes, environmental issues, competition, and operational challenges specific to the oil and gas industry.

Yes, 'Item 3. Quantitative and Qualitative Disclosures About Market Risk' provides information on how Devon Energy manages its exposure to market risks, such as those related to commodity prices, interest rates, and foreign currency. This section may include details on hedging strategies and the potential impact of adverse market movements.