Diamondback Energy Q1 net income $712M, adjusted EPS $4.10; declares base+variable dividends

Diamondback Energy, Inc.

2023-Q1 EPS reported $3.88 revenue$1,925,000,000

Q1 2023 net income $712M ($3.88 diluted EPS); adjusted net income $751M ($4.10 adjusted EPS).
Average production 251.4 MBO/d (425.0 MBOE/d); cash from ops $1.43B; free cash flow $646M.
Declared Q1 base dividend $0.80/share and variable $0.03/share, payable May 18, 2023; annualized yield ~2.3%.
Repurchased 2.53M shares for $332M in Q1; total buybacks to date ~$1.9B under $4B authorization.
FY 2023 guidance: net production 430-440 MBOE/d, capex $2.5-2.7B; completed $773M non-core asset sales.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Diamondback Energy, Inc. reported first quarter ended March 31, 2023 results: net income $712 million, EPS $3.88 per diluted share.

Period: first quarter ended March 31, 2023
Net income: $712 million
EPS: $3.88 per diluted share
Result: reported results

Exact text from the filing

Diamondback's first quarter 2023 net income was $712 million, or $3.88 per diluted share.

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Source: SEC EDGAR

accession 0001539838-23-000042

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