secwatch.observer — SEC 8-K summary
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Issuer:     Diamondback Energy, Inc. (FANG)
CIK:        0001539838
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001539838-22-000163
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 1.02, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Diamondback Q3 net income $1.18B, EPS $6.72; $2.26 dividend; FireBird acquisition on track
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- Q3 net income $1.18B ($6.72 diluted EPS); adjusted EPS $6.48; cash from ops $1.93B; free cash flow $1.16B.
- Production averaged 390.6 MBOE/d; unhedged oil realized price $89.79/bbl; cash costs $11.97/BOE.
- Declared Q3 base $0.75 plus variable $1.51 per share (total $2.26), payable Nov 25, 5.6% annualized yield.
- Repurchased 3.92M shares for $472M in Q3; total return of capital $874M (~75% of FCF); Board authorized $4B buyback.
- FireBird acquisition $775M cash + 5.86M shares expected to close Nov 30; $1.1B notes offering funded Rattler redemption.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1539838/000153983822000163/0001539838-22-000163-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1539838/000153983822000163/fang-20221107.htm
  HTML page:      https://secwatch.observer/filing/0001539838-22-000163

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