---
schema_version: "secwatch.filing_event.v1"
accession: "0001539838-23-000129"
form_type: "8-K"
ticker: "FANG"
cik: "0001539838"
company_name: "Diamondback Energy, Inc."
filed_at: "2023-11-06T23:59:59+00:00"
generated_at: "2026-06-08T20:00:45.780906+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Diamondback Energy Q3 net income $915M ($5.07/diluted); raises FY2023 production guidance

## Summary
- Net income $915M ($5.07 diluted EPS); adjusted net income $990M ($5.49 adjusted EPS).
- Declared Q3 base dividend $0.84/share plus variable $2.53/share, payable Nov 24; implies 8.3% annualized yield.
- Raised FY2023 net production guidance to ~447 MBOE/d (from 435-445) and oil to ~263 MBO/d (from 260-262); capex raised to $2.66-2.70B.
- Returned $663M to shareholders in Q3 (~81% of FCF); repurchased 406,700 shares for $56M during Q3.
- Closed non-core asset sales with $1.7B gross proceeds, exceeding $1.0B target; formed Deep Blue JV with $516M proceeds.

## SEC filing metadata
- accession: 0001539838-23-000129
- form_type: 8-K
- ticker: FANG
- cik: 0001539838
- company_name: Diamondback Energy, Inc.
- filed_at: 2023-11-06T23:59:59+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/1539838/000153983823000129/0001539838-23-000129-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000129/fang-20231106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001539838-23-000129
- JSON: https://secwatch.observer/filing/0001539838-23-000129.json
- Plain text: https://secwatch.observer/filing/0001539838-23-000129.txt

## Key facts
- Earnings Releases
  Diamondback Energy, Inc. reported third quarter ended September 30, 2023 results: net income $915 million, EPS $5.07 per diluted share.
  - Period: third quarter ended September 30, 2023
  - Net income: $915 million
  - EPS: $5.07 per diluted share
  - Result: reported results
  source text: Diamondback's third quarter 2023 net income was $915 million, or $5.07 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983823000129/0001539838-23-000129-index.htm

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