Business
Add as a preferred source on GoogleThe company set its adjusted EBITDA outlook at $140 million to $144 million and approved up to $100 million in share repurchases.
A 30% year-over-year increase in third-quarter sales came alongside higher 2026 targets and Cadre’s authorization of up to $100 million in share repurchases.
The company’s updated 2026 outlook puts net sales at $756 million to $769 million and adjusted EBITDA at $140 million to $144 million. Adjusted EBITDA margin expanded by 110 basis points in the third quarter.
The repurchase authorization covers as much as $100 million in shares.
Devon raised its 2026 year-end annualized pre-tax synergy run-rate estimate to about $350 million and expects 2027 oil output of about 525,000 barrels per day after the planned sale.
The program replaces a 2011 authorization with about $28 million remaining. The $0.25 dividend is payable Dec. 7 to shareholders of record Nov. 25.
The midpoint is 1% below September-quarter sales; the company forecast non-GAAP diluted earnings per share of $0.87 to $0.95.
