For the quarter ended December 2023, Diamondback Energy (FANG - Free Report) reported revenue of $2.23 billion, up 9.8% over the same period last year. EPS came in at $4.74, compared to $5.29 in the year-ago quarter.
The reported revenue represents a surprise of +3.75% over the Zacks Consensus Estimate of $2.15 billion. With the consensus EPS estimate being $4.61, the EPS surprise was +2.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Diamondback performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average daily production / Daily combined volumes: 462,565 BOE/D compared to the 460,730.6 BOE/D average estimate based on 11 analysts.
- Total Production Volume (Combined volumes): 42,556 MBOE versus 42,205.75 MBOE estimated by six analysts on average.
- Average Prices - Natural gas: $1.29 per thousand cubic feet versus $1.56 per thousand cubic feet estimated by six analysts on average.
- Average Prices - Oil: $76.42 per barrel versus $76.8 per barrel estimated by six analysts on average.
- Average Prices - Natural gas, hedged: $1.31 per thousand cubic feet compared to the $1.45 per thousand cubic feet average estimate based on six analysts.
- Average Prices - Oil -hedged: $75.59 per barrel compared to the $75.44 per barrel average estimate based on six analysts.
- Average Prices - Natural gas liquids: $19.96 per barrel compared to the $20.36 per barrel average estimate based on six analysts.
- Average Prices - Natural gas liquids, hedged: $19.96 per barrel versus $20.79 per barrel estimated by five analysts on average.
- Total Production Volume - Oil: 25,124 MBBL compared to the 25,058.49 MBBL average estimate based on four analysts.
- Total Production Volume - Natural gas liquids: 9,016 MBBL compared to the 8,807.35 MBBL average estimate based on four analysts.
- Revenues- Oil, natural gas and natural gas liquid: $2.17 billion compared to the $2.11 billion average estimate based on five analysts. The reported number represents a change of +7.8% year over year.
- Revenues- Other operating income: $11 million versus $22.98 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -50% change.
View all Key Company Metrics for Diamondback here>>>Shares of Diamondback have returned +18.1% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
For the quarter ended December 2023, Diamondback Energy (FANG - Free Report) reported revenue of $2.23 billion, up 9.8% over the same period last year. EPS came in at $4.74, compared to $5.29 in the year-ago quarter.
The reported revenue represents a surprise of +3.75% over the Zacks Consensus Estimate of $2.15 billion. With the consensus EPS estimate being $4.61, the EPS surprise was +2.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Diamondback performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average daily production / Daily combined volumes: 462,565 BOE/D compared to the 460,730.6 BOE/D average estimate based on 11 analysts.
- Total Production Volume (Combined volumes): 42,556 MBOE versus 42,205.75 MBOE estimated by six analysts on average.
- Average Prices - Natural gas: $1.29 per thousand cubic feet versus $1.56 per thousand cubic feet estimated by six analysts on average.
- Average Prices - Oil: $76.42 per barrel versus $76.8 per barrel estimated by six analysts on average.
- Average Prices - Natural gas, hedged: $1.31 per thousand cubic feet compared to the $1.45 per thousand cubic feet average estimate based on six analysts.
- Average Prices - Oil -hedged: $75.59 per barrel compared to the $75.44 per barrel average estimate based on six analysts.
- Average Prices - Natural gas liquids: $19.96 per barrel compared to the $20.36 per barrel average estimate based on six analysts.
- Average Prices - Natural gas liquids, hedged: $19.96 per barrel versus $20.79 per barrel estimated by five analysts on average.
- Total Production Volume - Oil: 25,124 MBBL compared to the 25,058.49 MBBL average estimate based on four analysts.
- Total Production Volume - Natural gas liquids: 9,016 MBBL compared to the 8,807.35 MBBL average estimate based on four analysts.
- Revenues- Oil, natural gas and natural gas liquid: $2.17 billion compared to the $2.11 billion average estimate based on five analysts. The reported number represents a change of +7.8% year over year.
- Revenues- Other operating income: $11 million versus $22.98 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -50% change.
View all Key Company Metrics for Diamondback here>>>Shares of Diamondback have returned +18.1% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Get the latest research report on FANG - FREE