Diamondback: Q1 Earnings Snapshot
By AP News
Published - May 01, 2023, 04:18 PM ET
Last Updated - Jun 22, 2023, 12:23 AM EDT
MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Monday reported first-quarter net income of $712 million.
The Midland, Texas-based company said it had net income of $3.88 per share. Earnings, adjusted for non-recurring costs, were $4.10 per share.
The results fell short of Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $4.36 per share.
The energy exploration and production company posted revenue of $1.93 billion in the period, also falling short of Street forecasts. Ten analysts surveyed by Zacks expected $1.95 billion.
