Diamondback Energy (FANG) Tops Q2 EPS by 2c, provides guidance

Diamondback Energy (NASDAQ: FANG) reported Q2 EPS of $4.52, $0.02 better than the analyst estimate of $4.50. Revenue for the quarter came in at $2.48 billion versus the consensus estimate of $2.2 billion.

Guidance:

The Company is raising the midpoints of both total and net oil production for the full year 2024 due to production outperformance year-to-date. Additionally, Diamondback is lowering the midpoint for capital expenditures as well as increasing activity levels for the full year 2024 due to continued cost control and efficiency gains, respectively. This guidance does not take into account the pending Endeavor merger.

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

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