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Diamondback: 2Q Earnings Snapshot

August 8, 2018

MIDLAND, Texas (AP) _ Diamondback Energy Inc. (FANG) on Wednesday reported second-quarter earnings of $219.1 million.

On a per-share basis, the Midland, Texas-based company said it had net income of $2.22. Earnings, adjusted for non-recurring gains, were $1.59 per share.

The results did not meet Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.

The energy exploration and production company posted revenue of $526.3 million in the period, topping Street forecasts. Thirteen analysts surveyed by Zacks expected $477.1 million.

Diamondback shares have risen 6 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $133.79, a rise of 41 percent 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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