Diamondback Energy beats quarterly profit estimates on higher crude prices

Reuters

Updated Tue, Feb 21, 2023, 4:05 PM

In this article:

Feb 21 (Reuters) - U.S. oil and gas producer Diamondback Energy Inc on Tuesday beat Wall Street expectations for fourth-quarter profit, helped by higher crude prices due to tighter energy supplies following Russia's invasion of Ukraine.

The Midland, Texas-based company's adjusted net income stood at $5.29 per share, above analysts' average estimate of $5.22. (Reporting by Arshreet Singh; Editing by Shinjini Ganguli)

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Diamondback Energy beats quarterly profit estimates on higher crude prices

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