AP NEWS

Diamondback: 4Q Earnings Snapshot

February 19, 2019

MIDLAND, Texas (AP) _ Diamondback Energy Inc. (FANG) on Tuesday reported fourth-quarter profit of $306.7 million.

The Midland, Texas-based company said it had profit of $2.50 per share. Earnings, adjusted for non-recurring gains, came to $1.21 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 $1.62 per share.

The energy exploration and production company posted revenue of $633.1 million in the period, which also did not meet Street forecasts. Twelve analysts surveyed by Zacks expected $663.2 million.

For the year, the company reported profit of $845.7 million, or $8.06 per share. Revenue was reported as $2.18 billion.

Diamondback shares have risen 13 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $104.80, a decrease of 15 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