---
schema_version: "secwatch.filing_event.v1"
accession: "0001539838-24-000088"
form_type: "8-K"
ticker: "FANG"
cik: "0001539838"
company_name: "Diamondback Energy, Inc."
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T04:22:06.725990+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Diamondback Energy Q1 net income $768M, EPS $4.28; declares $0.90 base + $1.07 variable dividend

## Summary
- Q1 net income $768M ($4.28 diluted EPS); adjusted net income $809M ($4.50 diluted EPS).
- Average production 273.3 MBO/d (461.1 MBOE/d); cash capex $609M.
- Free cash flow $791M; base dividend $0.90/share and variable $1.07/share, payable May 22.
- Repurchased 279,266 shares for $42M in Q1; $1.6B remaining on buyback authorization.
- Endeavor merger stockholder-approved Apr 26; expected close Q4 2024, subject to regulatory approval.

## SEC filing metadata
- accession: 0001539838-24-000088
- form_type: 8-K
- ticker: FANG
- cik: 0001539838
- company_name: Diamondback Energy, Inc.
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1539838/000153983824000088/0001539838-24-000088-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1539838/000153983824000088/fang-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001539838-24-000088
- JSON: https://secwatch.observer/filing/0001539838-24-000088.json
- Plain text: https://secwatch.observer/filing/0001539838-24-000088.txt

## Key facts
- Earnings Releases
  Diamondback Energy, Inc. reported the first quarter ended March 31, 2024 results: net income $768 million, EPS $4.28 per diluted share.
  - Period: the first quarter ended March 31, 2024
  - Net income: $768 million
  - EPS: $4.28 per diluted share
  - Result: reported results
  source text: Diamondback's first quarter 2024 net income was $768 million, or $4.28 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983824000088/0001539838-24-000088-index.htm

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