---
schema_version: "secwatch.filing_event.v1"
accession: "0001539838-23-000042"
form_type: "8-K"
ticker: "FANG"
cik: "0001539838"
company_name: "Diamondback Energy, Inc."
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T04:55:44.466592+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001539838-23-000042
- form_type: 8-K
- ticker: FANG
- cik: 0001539838
- company_name: Diamondback Energy, Inc.
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000042/0001539838-23-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000042/fang-20230501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001539838-23-000042
- JSON: https://secwatch.observer/filing/0001539838-23-000042.json
- Plain text: https://secwatch.observer/filing/0001539838-23-000042.txt

## Key facts
- Earnings Releases
  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
  source text: Diamondback's first quarter 2023 net income was $712 million, or $3.88 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000042/0001539838-23-000042-index.htm

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