AP NEWS

Diamondback: 3Q Earnings Snapshot

November 6, 2018

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FANG at https://www.zacks.com/ap/FANG

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