Diamondback (FANG) Q1 Earnings Beat Estimates as Output Jumps
FANGDiamondback Energy(FANG) Zacks Investment Research·2024-05-08 23:36

U.S. energy operator Diamondback Energy (FANG) reported first-quarter 2024 adjusted earnings per share of 4.50,whichbeattheZacksConsensusEstimateof4.50, which beat the Zacks Consensus Estimate of 4.29 and came ahead of the year-ago adjusted figure of 4.10.Theoutperformanceprimarilyreflectsstrongerproductionandadropinoverallrealization.Meanwhile,revenuesof4.10. The outperformance primarily reflects stronger production and a drop in overall realization. Meanwhile, revenues of 2.2 billion rose 15.7% from the year-ago quarter’s sales and outperformed the Zacks Consensus Estimate by $137 million. In good news for investors, the company is using the exc ...