---
schema_version: "secwatch.filing_event.v1"
accession: "0001539838-23-000018"
form_type: "8-K"
ticker: "FANG"
cik: "0001539838"
company_name: "Diamondback Energy, Inc."
filed_at: "2023-02-21T23:59:59+00:00"
generated_at: "2026-06-19T06:53:35.909552+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Diamondback Q4 net income $1.01B, raises base dividend 7%, ups asset sale target to $1B

## Summary
- Q4 net income $1.01B ($5.62 diluted EPS); adjusted net income $948M ($5.29 diluted EPS).
- Q4 free cash flow $1.13B; full year free cash flow $4.59B.
- Base dividend increased 7% to $3.20 annual; declared Q4 base $0.80 and variable $2.15 per share.
- Repurchased 2.34M shares for $316M in Q4; total 2022 return of capital $3.11B (68% of FCF).
- 2023 oil production guidance 256-262 MBO/d; capex $2.5-2.7B; non-core asset sale target raised to at least $1B.

## SEC filing metadata
- accession: 0001539838-23-000018
- form_type: 8-K
- ticker: FANG
- cik: 0001539838
- company_name: Diamondback Energy, Inc.
- filed_at: 2023-02-21T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000018/0001539838-23-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000018/fang-20230221.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001539838-23-000018
- JSON: https://secwatch.observer/filing/0001539838-23-000018.json
- Plain text: https://secwatch.observer/filing/0001539838-23-000018.txt

## Key facts
- Earnings Releases
  Diamondback Energy, Inc. updated its fourth quarter and full year ended December 31, 2022 guidance (raised).
  - Period: fourth quarter and full year ended December 31, 2022
  - Guidance: raised
  - Result: reported results
  source text: On February 21, 2023 , Diamondback Energy, Inc. issued a press release reporting financial and operating results for the fourth quarter and full year ended December 31, 2022 and announcing the fourth quarter 2022 base and variable cash dividends and increase of the base dividend.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000018/0001539838-23-000018-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.