Here's What Key Metrics Tell Us About Diamondback (FANG) Q4 Earnings
For the quarter ended December 2023, Diamondback Energy (FANG) reported revenue of $2.23 billion, up 9.8% over the same period last year. EPS came in at $4.74, compared to $5.29 in the year-ago quarter.
The reported revenue represents a surprise of +3.75% over the Zacks Consensus Estimate of $2.15 billion. With the consensus EPS estimate being $4.61, the EPS surprise was +2.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Diamondback performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average daily production / Daily combined volumes: 462,565 BOE/D compared to the 460,730.6 BOE/D average estimate based on 11 analysts.
Total Production Volume (Combined volumes): 42,556 MBOE versus 42,205.75 MBOE estimated by six analysts on average.
Average Prices - Natural gas: $1.29 per thousand cubic feet versus $1.56 per thousand cubic feet estimated by six analysts on average.
Average Prices - Oil: $76.42 per barrel versus $76.8 per barrel estimated by six analysts on average.
Average Prices - Natural gas, hedged: $1.31 per thousand cubic feet compared to the $1.45 per thousand cubic feet average estimate based on six analysts.
Average Prices - Oil -hedged: $75.59 per barrel compared to the $75.44 per barrel average estimate based on six analysts.
Average Prices - Natural gas liquids: $19.96 per barrel compared to the $20.36 per barrel average estimate based on six analysts.
Average Prices - Natural gas liquids, hedged: $19.96 per barrel versus $20.79 per barrel estimated by five analysts on average.
Total Production Volume - Oil: 25,124 MBBL compared to the 25,058.49 MBBL average estimate based on four analysts.
Total Production Volume - Natural gas liquids: 9,016 MBBL compared to the 8,807.35 MBBL average estimate based on four analysts.
Revenues- Oil, natural gas and natural gas liquid: $2.17 billion compared to the $2.11 billion average estimate based on five analysts. The reported number represents a change of +7.8% year over year.
Revenues- Other operating income: $11 million versus $22.98 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -50% change.
View all Key Company Metrics for Diamondback here>>>
Shares of Diamondback have returned +18.1% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Diamondback Energy, Inc. (FANG) : Free Stock Analysis Report
