Diamondback Energy (FANG) Tops Q4 EPS by 5c; issues guidance

Diamondback Energy (NASDAQ: FANG) reported Q4 EPS of $4.74, $0.05 better than the analyst estimate of $4.69. Revenue for the quarter came in at $2.23 billion versus the consensus estimate of $2.16 billion.

GUIDANCE

Full year 2024 oil production guidance of 270 - 275 MBO/d (458 - 466 MBOE/d)
Full year 2024 cash capital expenditures guidance of $2.30 - $2.55 billion
The Company expects to drill between 265 - 285 gross (244 - 263 net) wells and complete between 300 - 320 gross (273 - 291 net) wells with an average lateral length of approximately 11,500 feet in 2024
Q1 2024 oil production guidance of 270 - 274 MBO/d (458 - 464 MBOE/d)
Q1 2024 cash capital expenditures guidance of $580 - $620 million

For earnings history and earnings-related data on Diamondback Energy (FANG) click here.

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