Diamondback Energy Q3 Adjusted EPS of $5.86 Beats Estimates, Dividend Raised Over 7%

Diamondback Energy reported third-quarter 2026 adjusted earnings per share of $5.86, topping the consensus estimate of $5.73 by $0.13, while revenue of $5.43 billion beat expectations by roughly $520 million. The results were released after the market close on Monday, November 2.

Q3 oil production came in at 525 thousand barrels of oil per day, flat with the second quarter but above the guidance midpoint, while total production reached 1,034 thousand barrels of oil equivalent per day, up 2% quarter over quarter. The company also raised its base dividend by more than 7% to $4.72 per share annually.

For the full year, Diamondback tightened its oil production guidance to approximately 524 thousand barrels of oil equivalent per day, up from a prior floor of 522 thousand, and raised its capital expenditure outlook to $3.95 billion to $4.00 billion from a prior figure of around $3.9 billion. Fourth-quarter oil production is guided at 518 to 528 thousand barrels of oil per day, with capex of $1.00 billion to $1.05 billion, slightly above the prior consensus estimate of $999.2 million.