Diamondback Energy, Inc. · FANG · Next earnings

Diamondback Energy, Inc. reports Monday, Nov 2, 2026

FANG reports after market close with consensus EPS at $4.86 and revenue at $4.51B. Last quarter: Diamondback Energy Beats Q1 Estimates, Raises Guidance, Accelerates Debt Paydown

Reports After market close43 days awayDate estimated Energy

What the street expects

Consensus for the coming report
Consensus EPS $4.86 Calendar consensus
Consensus revenue $4.51B Calendar consensus
Report date Nov 2, 2026 Monday, date estimated
Session After market close 43 days away

Where FANG left off: FY2026 Q1

Full report

Diamondback Energy Beats Q1 Estimates, Raises Guidance, Accelerates Debt Paydown

EPS surprise +13.1% Reported $4.23 vs $3.74
Revenue surprise +10.6% Reported $4.24B vs $3.83B
Stock move -3.5% Event window
Subsequent drift +2.1% Up to 20 sessions

Guidance was raised from the prior quarter's maintained stance. Capex outlook moved from stable to increasing, reflecting the added rigs and completion crew. The net debt target of $10B was accelerated from a 12-18 month horizon to potentially within months. Management reaffirmed dividend growth and modest share repurchases while keeping M&A limited to small bolt-on deals in the Midland Basin.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Geopolitical conflict and oil price volatility affecting market dynamics.
  • Continued negative Waha gas prices and potential gas service cost inflation.
  • Risk of over-capitalizing if oil prices soften, impacting reinvestment rate.
  • Execution risk around new rigs, Barnett expansion, and power project timeline.

Questions analysts left open

  • Impact of negative Waha gas prices on cash flow and production decisions.
  • Upper limit of oil production growth and whether 5% growth is realistic.
  • Balance between buybacks, debt reduction, and potential inorganic acquisitions.
  • Potential inflation in oilfield service pricing and consumable costs.
  • Reinvestment rate staying below target despite strong cash flow.

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Recent FANG quarters

All FANG earnings
-3.5%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.