Diamondback Energy Beats Q2 Estimates, Raises Buyback to $16B

Earnings

โดย Zacks Investment Research·

Summary · why it matters

Diamondback Energy reported second-quarter 2026 adjusted earnings per share of $6.48, beating the Zacks Consensus Estimate of $5.96 and more than doubling from the year-ago $2.67, driven by production growth and a 53.1% improvement in realized oil prices. Revenues of $5.6 billion rose over 51% year over year and topped estimates by about 17%. The company generated $2.3 billion in adjusted free cash flow and repurchased nearly 756,385 shares for roughly $141 million. In July, the board doubled its share repurchase authorization from $8 billion to $16 billion, leaving about $9.9 billion available. Diamondback also raised its 2026 oil production outlook to over 522 MBO/d and total production to over 1,000 MBOE/d, while maintaining cash capital expenditure guidance at approximately $3.9 billion. Since the earnings release, the consensus estimate has shifted upward by 11.98%, and the stock has gained about 5.9%, outperforming the S&P 500.

Diamondback Energy Inc ▲