Diamondback Energy 4Q Revenue Soars 67% on Higher Production

Dow Jones

2025/02/25

By Sabela Ojea

Diamondback Energy logged a surge in fourth-quarter revenue boosted by higher levels of daily oil volumes.

The oil and natural gas company on Monday posted a net profit of $1.01 billion, or $3.67 a share, compared with $960 million, or $5.34 a share, for the same period a year earlier.

Stripping out one-time items, the company's earnings per share came in at $3.64 per share. Analysts polled by FactSet had forecast adjusted earnings of $3.35.

Revenue surged 67% to $3.71 billion, beating the $3.55 billion expected by Wall Street.

The Midland, Texas-based company's fourth-quarter average daily oil volumes rose to 475,924 barrels of oil equivalent per day, up from 273,087 a year earlier. Diamondback drilled 131 gross wells in the Midland Basin and six gross wells in the Delaware Basin.

The results come a few days after the company named its former finance chief Kaes Van't Hof as its new chief executive officer, succeeding Travis Stice.

Diamondback forecasts 485,000 to 498,000 in average daily oil volumes this year, up from an average of 337,000 in 2024.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

February 24, 2025 16:48 ET (21:48 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Analysts polled by FactSet had forecast adjusted earnings of $3.35. \n</p>\n<p>\n  Revenue surged 67% to $3.71 billion, beating the $3.55 billion expected by Wall Street. \n</p>\n<p>\n  The Midland, Texas-based company's fourth-quarter average daily oil volumes rose to 475,924 barrels of oil equivalent per day, up from 273,087 a year earlier. Diamondback drilled 131 gross wells in the Midland Basin and six gross wells in the Delaware Basin. \n</p>\n<p>\n  The results come a few days after the company named its former finance chief Kaes Van't Hof as its new chief executive officer, succeeding Travis Stice. \n</p>\n<p>\n  Diamondback forecasts 485,000 to 498,000 in average daily oil volumes this year, up from an average of 337,000 in 2024. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 24, 2025 16:48 ET (21:48 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FANG","symbol_name":"Diamondback Energy","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2514084701","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2514084701","pubTimestamp":1740433680,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Diamondback Energy logged a surge in fourth-quarter revenue boosted by higher levels of daily oil volumes.The oil and natural gas company on Monday posted a net profit of $1.01 billion, or $3.67 a share, compared with $960 million, or $5.34 a share, for the same period a year earlier.Stripping out one-time items, the company's earnings per share came in at $3.64 per share. 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Analysts polled by FactSet had forecast adjusted earnings of $3.35. \n\n\n  Revenue surged 67% to $3.71 billion, beating the $3.55 billion expected by Wall Street. \n\n\n  The Midland, Texas-based company's fourth-quarter average daily oil volumes rose to 475,924 barrels of oil equivalent per day, up from 273,087 a year earlier. Diamondback drilled 131 gross wells in the Midland Basin and six gross wells in the Delaware Basin. \n\n\n  The results come a few days after the company named its former finance chief Kaes Van't Hof as its new chief executive officer, succeeding Travis Stice. \n\n\n  Diamondback forecasts 485,000 to 498,000 in average daily oil volumes this year, up from an average of 337,000 in 2024. \n\n\n \n\n\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 24, 2025 16:48 ET (21:48 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}