Diamondback: 3Q Earnings Snapshot
MIDLAND, Texas (AP) _ Diamondback Energy Inc. (FANG) on Tuesday reported third-quarter earnings of $157.1 million.
The Midland, Texas-based company said it had net income of $1.59 per share. Earnings, adjusted for non-recurring costs, came to $1.67 per share.
The results exceeded Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The energy exploration and production company posted revenue of $538 million in the period, also topping Street forecasts. Thirteen analysts surveyed by Zacks expected $523.7 million.
Diamondback shares have fallen 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $113.37, dropping slightly in the last 12 months.