Diamondback Energy, Inc.: Beat — EPS $5.86, Revenue $5.43B
Earnings BeatQ3 2026 · After-market
Did Diamondback Energy, Inc. (FANG) beat earnings today?
Yes, Diamondback Energy, Inc. (FANG) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+4.64% surprise
$5.86Actual
Expected: $5.60
Total Revenue+10.61% surprise
$5.43BActual
Expected: $4.91B
vs. year ago +38.4%
Released Nov 02 · 4:01 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $5.43B | $3.92B | +38.4% |
| Revenue detail — reported lines | |||
| └─Oil, natural gas and natural gas liquid sales | $4.85B | $3.45B | +40.8% |
| └─Sales of purchased oil | $536.00M | $459.00M | +16.8% |
| └─Other operating income | $41.00M | $18.00M | +127.8% |
| Net Income | $1.60B | $1.02B | +57.5% |
| GAAP Basic EPS | $5.69 | $3.51 | +62.1% |
| GAAP Diluted EPS | $5.69 | $3.51 | +62.1% |
| Adj. Diluted EPS | $5.86 | - | - |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook | FY2026 Outlook |
|---|---|---|
| Net production | 1,025 - 1,045 MBOE/d | ~1,015 MBOE/d (prev. 1,000+ MBOE/d) |
| Oil production | 518 - 528 MBO/d | ~524 MBO/d (prev. 522+ MBO/d) |
| Lease operating expenses | — | $5.95 - $6.20/BOE (prev. $5.90 - $6.40/BOE) |
| Cash G&A | — | $0.55 - $0.65/BOE |
| Non-cash equity-based compensation | — | $0.20 - $0.30/BOE |
| DD&A | — | $13.50 - $14.50/BOE |
| Interest expense | — | $0.50 - $0.70/BOE |
| Gathering, processing and transportation | — | $1.30 - $1.50/BOE (prev. $1.40 - $1.60/BOE) |
| Production and ad valorem taxes | — | ~6.5% (prev. ~7%) |
| Cash taxes | $500 - $560M | — |
| Operated drilling and completion | — | $3,350 - $3,400M (prev. ~$3,310M) |
| Total capital expenditures | — | $3,950 - $4,000M (prev. ~$3,900M) |
| Capital expenditures | $1,000 - $1,050M | — |
| Average lateral length | — | ~12,900' |
| Net lateral footage completed | — | 6,200' - 6,600' (prev. 6,100' - 6,500') |
| Net production (Viper) | — | 137.0 - 138.0 MBOE/d |
| Oil production (Viper) | 70.0 - 71.0 MBO/d (141.5 - 143.5 MBOE/d) | 67.25 - 67.75 MBO/d |
| Cash G&A (Viper) | — | $0.70 - $0.90/BOE |
| Non-cash equity-based compensation (Viper) | — | $0.10 - $0.20/BOE |
| DD&A (Viper) | — | $14.75 - $17.25/BOE |
| Interest expense (Viper) | — | $1.90 - $2.40/BOE |
| Production and ad valorem taxes (Viper) | — | ~7% |
Business Highlights
- ➤Average oil production reached 525 MBO/d and total production reached 1,034 MBOE/d.
- ➤Increased the annual base dividend 7.3% to $4.72 per share.
- ➤Repurchased 1.3 million shares during the quarter.
- ➤Acquired a 7.5% equity interest in the Solitude Pipeline System.
- ➤Repurchased $106 million aggregate principal amount of 2054 and 2064 Senior Notes.
- ➤Repurchased 389,841 shares in Q4 2026 to date.
- ➤Redeemed all $698 million aggregate principal amount of 2026 Senior Notes at par.
- ➤Repurchased $195 million aggregate principal amount of 2054 and 2064 Senior Notes in Q4 to date.
- ➤Drilled 105 gross and completed 135 gross wells during the quarter.
- ➤Operates primarily across unconventional onshore reserves in the Permian Basin.