---
schema_version: "secwatch.filing_event.v1"
accession: "0001539838-23-000098"
form_type: "8-K"
ticker: "FANG"
cik: "0001539838"
company_name: "Diamondback Energy, Inc."
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T22:00:17.901763+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001539838-23-000098
- form_type: 8-K
- ticker: FANG
- cik: 0001539838
- company_name: Diamondback Energy, Inc.
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000098/0001539838-23-000098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000098/fang-20230731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001539838-23-000098
- JSON: https://secwatch.observer/filing/0001539838-23-000098.json
- Plain text: https://secwatch.observer/filing/0001539838-23-000098.txt

## Key facts
- Earnings Releases
  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
  source text: second quarter 2023 net income was $556 million, or $3.05 per diluted share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000098/0001539838-23-000098-index.htm

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