FANG Diamondback Energy, Inc.
Price Chart
Executive Summary
Diamondback Energy reported Q1 2026 GAAP EPS of $0.08, a massive miss vs consensus of $3.75 due to a $1.4B impairment, but adjusted EPS of $4.23 beat consensus. Revenue of $4.24B beat estimates, production grew 10% YoY, and the company raised full-year production guidance. The strong operational cash flow and capital returns (50% of adjusted free cash flow) contrast with the accounting-driven earnings miss, setting up a mixed market reaction.
Key Financial Metrics
Actionable Insight
Traders should expect initial volatility as the market digests the GAAP miss vs adjusted beat. Look for volume and price action in the first 30 minutes; if the stock holds above $207 (prior close), the operational strength and raised guidance may drive a relief rally. Watch Q2 production data and cash flow trends for confirmation.
Key Facts
- Q1 2026 GAAP diluted EPS $0.08 vs consensus $3.75 (97.9% miss) due to $1.4B non-cash impairment
- Adjusted net income per share $4.23, above $3.75 consensus if adjusted basis
- Revenue $4.24B vs consensus $3.93B, up 4.7% YoY
- Oil production 521 MBO/d, up 9.5% YoY; total production 979 MBOE/d
- Raised 2026 oil production guidance to 520+ MBO/d (from 500-510) and increased capex to ~$3.9B
- Free cash flow $1.7B, returned $859M to shareholders via dividends and buybacks
- Repurchased 3.3M shares for $548M at avg $167.61; $2.1B remaining on authorization
- Net debt $13.9B, repaid $550M term loan and retired $777M notes via tender offer
Financial Impact
GAAP EPS miss of $3.67 per share vs consensus due to $1.4B impairment; adjusted EPS beat by ~$0.48. Revenue beat by ~$310M. Production guidance raise implies continued operational momentum.
Risk Factors
- Continued commodity price weakness could pressure cash flows and lead to further impairments
- Higher capex guidance ($3.9B) may compress free cash flow if production growth stalls
- Debt reduction may limit near-term buyback capacity; net debt remains elevated at $13.9B
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3287116 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 8, 2026
1d ago
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Insider Cluster
| $198.18 awaiting T+1 | awaiting T+1 | — | $194.24 (+1.99%) |
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Jun 5, 2026
4d ago
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Insider Cluster
| $202.50 awaiting T+1 | awaiting T+1 | — | $194.24 (+4.08%) |
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Jun 4, 2026
5d ago
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Insider Cluster
| $202.50 awaiting T+1 | awaiting T+1 | — | $194.24 (−4.08%) |
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Jun 2, 2026
7d ago
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Insider Cluster
| $210.42 $202.44 | ▼ −3.79% | ▼ −4.19% | $194.24 (−7.69%) |
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May 20, 2026
20d ago
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8-K
| $200.42 $200.81 | ▲ +0.19% | ▼ −0.25% | $194.24 (−3.08%) |
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May 19, 2026
21d ago
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Insider Cluster
| $204.31 $200.42 | ▼ −1.90% | ▼ −2.10% | $194.24 (−4.93%) |
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May 4, 2026
5w ago
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8-K
| $205.40 $195.00 | ▼ −5.06% | ▼ −6.45% | $194.24 (−5.43%) |
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May 4, 2026
5w ago
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Press Release
| $205.40 $195.00 | ▼ −5.06% | ▼ −6.45% | $194.24 (−5.43%) |
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Apr 13, 2026
8w ago
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8-K
| $186.49 $185.83 | ▼ −0.35% | ▼ −1.13% | $194.24 (+4.16%) |
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Apr 13, 2026
8w ago
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8-K
| $186.49 $185.83 | ▼ −0.35% | ▼ −1.13% | $194.24 (+4.16%) |
US Market Status
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