Diamondback Energy Beats Q1 Estimates, Returns $864M; Devon Energy Misses EPS, Raises Oil Production Guidance

Diamondback Energy reported first-quarter 2025 adjusted earnings per share of $4.54, surpassing estimates of $4.13, with revenue of $4.05 billion beating the expected $3.73 billion. The company generated $1.6 billion in adjusted free cash flow and returned approximately $864 million to shareholders through buybacks and dividends, representing about 55% of its adjusted free cash flow. Viper Energy posted adjusted EPS of $0.54, beating the estimate of $0.41, though its revenue of $245 million fell short of the $296.25 million forecast. V2X reported adjusted EPS of $0.98, exceeding the $0.93 estimate, but its revenue of $1.02 billion missed the $1.04 billion expectation. Vitesse Energy's adjusted EPS was $0.23, above the $0.09 estimate, with revenue of $66.17 million slightly exceeding the $65.06 million forecast. Vtex reported a loss per share of $0.05, missing the $0.01 loss estimate, but its revenue of $54.2 million beat the $52.88 million estimate. Devon Energy reported adjusted EPS of $1.21, missing the $1.25 estimate by $0.04, with revenue reported at $3.59 billion, below the previously mentioned $4.45 billion figure. The company generated $1 billion in free cash flow, exceeded its oil production guidance with 388,000 barrels per day in Q1, and raised its full-year 2025 oil production guidance to a range of 382,000 to 388,000 barrels per day. Devon Energy also announced a capital expenditure guidance of $3.7 billion to $3.9 billion for 2025 and launched a $1 billion optimization plan aimed at improving efficiency and margins.