Devon Energy Non-GAAP EPS of $2.59 beats by $0.22, revenue of $5.63B beats by $880M

• Devon Energy press release (NYSE:DVN): Q2 Non-GAAP EPS of $2.59 beats by $0.22.
• Revenue of $5.63B (+132.6% Y/Y) beats by $880M.
• The company is raising its FY2022 production forecast by 3% to a range of 600,000 to 610,000 Boe per day. With the ongoing share repurchase program, production per share is expected to grow 8% compared to 2021.
• The company also adjusted its upstream capital guidance to a range of $2.2B to $2.4B vs. prior guidance of approximately $2.1B.