---
schema_version: "secwatch.filing_event.v1"
accession: "0001539838-24-000013"
form_type: "8-K"
ticker: "FANG"
cik: "0001539838"
company_name: "Diamondback Energy, Inc."
filed_at: "2024-02-20T23:59:59+00:00"
generated_at: "2026-06-05T23:03:24.535570+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Diamondback Q4 net income $960M, raises base dividend 7%, guides robust 2024 production

## Summary
- Q4 net income $960M ($5.34 diluted EPS); adjusted net income $854M ($4.74).
- Q4 free cash flow $910M; full-year 2023 free cash flow $2.9B.
- Annual base dividend raised 7% to $3.60/share; Q4 base $0.90 & variable $2.18 declared.
- 2024 guidance: oil production 270-275 MBO/d, cash capex $2.30-2.55B.
- Repurchased 872,667 shares in Q4 for $129M; total 2023 repurchases $838M.

## SEC filing metadata
- accession: 0001539838-24-000013
- form_type: 8-K
- ticker: FANG
- cik: 0001539838
- company_name: Diamondback Energy, Inc.
- filed_at: 2024-02-20T23:59:59+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/1539838/000153983824000013/0001539838-24-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1539838/000153983824000013/fang-20240220.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001539838-24-000013
- JSON: https://secwatch.observer/filing/0001539838-24-000013.json
- Plain text: https://secwatch.observer/filing/0001539838-24-000013.txt

## Key facts
- Earnings Releases
  Diamondback Energy, Inc. reported fourth quarter ended December 31, 2023 results: net income $960 million, EPS $5.34 per diluted share.
  - Period: fourth quarter ended December 31, 2023
  - Net income: $960 million
  - EPS: $5.34 per diluted share
  - Result: reported results
  source text: Diamondback's fourth quarter 2023 net income was $960 million, or $5.34 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983824000013/0001539838-24-000013-index.htm
- Earnings Releases
  Diamondback Energy, Inc. updated its Q1 2024 guidance (initiated).
  - Period: Q1 2024
  - Guidance: initiated
  - Result: guidance update
  source text: Q1 2024 oil production guidance of 270 - 274 MBO/d (458 - 464 MBOE/d)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983824000013/0001539838-24-000013-index.htm
- Earnings Releases
  Diamondback Energy, Inc. reported financial results for full year ended December 31, 2023.
  - Period: full year ended December 31, 2023
  - Result: reported results
  source text: Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983824000013/0001539838-24-000013-index.htm
- Earnings Releases
  Diamondback Energy, Inc. updated its full year 2024 guidance (initiated).
  - Period: full year 2024
  - Guidance: initiated
  - Result: guidance update
  source text: Full year 2024 oil production guidance of 270 - 275 MBO/d (458 - 466 MBOE/d)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983824000013/0001539838-24-000013-index.htm

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