trending Market Intelligence /marketintelligence/en/news-insights/trending/KLEKGud-la02XfnksZF2YA2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Diamondback Energy misses Q2 adjusted income estimates, updates FY'19 guidance

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Video

COVID-19 Impact & Recovery: Energy Outlook for H2 2021

Blog

Corporate renewables market flourished in 2020 despite pandemic

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective


Diamondback Energy misses Q2 adjusted income estimates, updates FY'19 guidance

Diamondback Energy Inc. on Aug. 6 reported $280.0 million, or $1.70 per share, in adjusted net income for the second quarter, compared to $158.0 million, or $1.59 per share, in the year-earlier quarter.

The S&P Global Market Intelligence consensus normalized earnings estimate for the second quarter was $1.75 per share.

Net income totaled $349.0 million, compared to $219.0 million in the prior-year period. Revenue was $1.02 billion, compared to $527.0 million in the second quarter a year ago.

The Permian Basin pure-play producer produced 280,365 barrels of oil equivalent per day in the second quarter, compared to 112,592 boe/d a year earlier.

Diamondback revised its 2019 production guidance to between 277,000 boe/d and 284,000 boe/d, up slightly at the midpoint from the previous guidance of between 272,000 boe/d and 287,000 boe/d. The producer also changed its capital expenditure guidance for the year to $2.73 billion to $2.95 billion, down at the midpoint from the prior guidance of $2.7 billion to $3.0 billion.