Diamondback Energy (FANG) Q3 2026 Earnings Review: Higher output supports a bigger dividend
Earnings results
- EPS beat 2.4%
Actual: $5.86 adjusted · Cons.: $5.72.
- Revenue beat 18.1%
Actual: $5.431B · Cons.: $4.60B.
- Guidance raised
Annual oil output: about 524,000 vs 522,000+ barrels/day · Cash spending: $3.95–4.00B vs about $3.9B.
What the company reported
Higher realized oil prices lifted revenue and earnings, while the increased production outlook and dividend improve cash-return prospects despite an increased capital-spending plan.
Q3 2026 earnings recap
Diamondback raised its oil-production outlook and quarterly dividend after earnings beat expectations, but higher planned spending will absorb more cash.
- Adjusted profit per share was $5.86 versus the $5.72 consensus, while reported profit per share rose to $5.69 from $3.51 a year earlier.
- Revenue climbed 38.4% to $5.43 billion, helped by oil selling for $87.3 a barrel versus $64.6 a year earlier.
- Annual oil output is now expected near 524,000 barrels a day, up from 522,000-plus, while planned cash investment rises to $3.95–4.00 billion.
- Operating cash flow of $2.6 billion exceeded $1.03 billion of cash capital spending, supporting a 7.3% dividend increase to $1.18 per share.
- The $199.74 November 2 close implies about 27 times trailing reported earnings, which were reduced by large non-cash property write-downs.
- Shares fell 5.8% during regular trading before the results, leaving $194–198 as nearby support and $204–209 as resistance.
Watch the November 3 earnings call for spending discipline and debt repayment plans, with lower oil prices and rising drilling costs the main risks.
Financials, technicals and earnings
Charts through Nov 2, 2026.
Technical setup and risks
The regular-session decline occurred before the earnings release; the chart indicates support near $194–198 and resistance around $204–209, with commodity prices and cash discipline key risks.
AI-assisted earnings research with verified issuer results. Charts use the stated completed session. Educational information; investing involves risk.