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Diamondback (FANG) Reports Q3 Earnings: What Key Metrics Have to Say

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Diamondback Energy (FANG - Free Report) reported $3.92 billion in revenue for the quarter ended September 2025, representing a year-over-year increase of 48.4%. EPS of $3.08 for the same period compares to $3.38 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $3.46 billion, representing a surprise of +13.36%. The company delivered an EPS surprise of +8.07%, with the consensus EPS estimate being $2.85.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: 942,946.00 BOE/D versus 920,998.90 BOE/D estimated by eight analysts on average.
  • Average Prices - Natural gas liquids, hedged: $/17.28 versus $/17.53 estimated by six analysts on average.
  • Average Prices - Oil -hedged: $/63.7 compared to the $/63.01 average estimate based on six analysts.
  • Average Prices - Natural gas, hedged: $1.75 per thousand cubic feet versus the six-analyst average estimate of $1.55 per thousand cubic feet.
  • Average Prices - Natural gas liquids: $/17.28 versus $/17.44 estimated by five analysts on average.
  • Total Production Volume - Natural gas liquids: 21,180.00 MBBL versus 20,221.65 MBBL estimated by five analysts on average.
  • Total Production Volume - Natural gas: 115,353.00 MMcf versus the five-analyst average estimate of 113,465.90 MMcf.
  • Total Production Volume - Oil: 46,345.00 MBBL compared to the 45,917.22 MBBL average estimate based on five analysts.
  • Revenues- Oil, natural gas and natural gas liquid: $3.45 billion versus the five-analyst average estimate of $3.27 billion. The reported number represents a year-over-year change of +46.4%.
  • Revenues- Oil sales: $2.99 billion versus the four-analyst average estimate of $2.78 billion. The reported number represents a year-over-year change of +38.6%.
  • Revenues- Natural gas liquid sales: $366 million compared to the $352.64 million average estimate based on four analysts. The reported number represents a change of +73.5% year over year.
  • Revenues- Natural gas sales: $87 million versus $76.31 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -611.8% change.

View all Key Company Metrics for Diamondback here>>>

Shares of Diamondback have returned +1.8% over the past month versus the Zacks S&P 500 composite's +4.4% 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.

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