FANG:
- EPS beats by 2%
- revenue: beats by 0.6%
Estimates: The Street forecast Diamondback Energy earnings rocketing 119% to $6.45 per share. Analysts expected revenue to gain 26% to $2.4 billion in Q3. Capital spending was predicted to be $492 million, up 5% from last quarter and a 26% increase vs. last year.
Results: Diamondback Energy reported EPS increasing 120% to $6.48. Third-quarter revenue came in at $2.4 billion, up 26% compared to last year. The company had $491 million in capital expenditures, coming in just below views.
Diamondback Energy also reported that it returned $874 million to its shareholders through repurchasing stock and dividends. This represents around 75% of the company's $1.16 billion third-quarter free cash flow.
Diamondback Energy produced 390,630 barrels of oil equivalent per day in Q3, a 2% increase compared to Q2 and a 3% decrease compared to a year ago.
No comments:
Post a Comment