Diamondback Energy Q2 net income $556M, raises base dividend 5%, updates 2023 guidance

Diamondback Energy, Inc.

2023-Q2 EPS reported $6.95 revenue$3,844,000,000

Net income $556M ($3.05 diluted EPS); adjusted net income $669M ($3.68 diluted EPS).
Free cash flow $547M; annual base dividend increased 5% to $3.36/share; Q2 dividend $0.84 payable Aug 17.
Raised 2023 production guidance: total oil 260-262 MBO/d (from 256-262), total output 435-445 MBOE/d (from 430-440).
Repurchased 2.4M shares for $321M, $130M senior notes; asset sales $1.1B exceed $1B target.
Completed sale of 43% OMOG crude oil gathering system for $225M in July; pro forma net debt $6.4B.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Diamondback Energy, Inc. reported the second quarter ended June 30, 2023 results: net income $556 million, EPS $3.05 per diluted share.

Period: the second quarter ended June 30, 2023
Net income: $556 million
EPS: $3.05 per diluted share
Result: reported results

Exact text from the filing

second quarter 2023 net income was $556 million, or $3.05 per diluted share

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Source: SEC EDGAR

accession 0001539838-23-000098

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