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Diamondback: 2Q Earnings Snapshot

August 6, 2019

MIDLAND, Texas (AP) _ Diamondback Energy Inc. (FANG) on Tuesday reported second-quarter net income of $349 million.

The Midland, Texas-based company said it had profit of $2.11 per share. Earnings, adjusted for non-recurring gains, were $1.70 per share.

The results did not meet Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.

The energy exploration and production company posted revenue of $1.02 billion in the period, also falling short of Street forecasts. Thirteen analysts surveyed by Zacks expected $1.04 billion.

Diamondback shares have decreased 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $90.76, a fall of 32% 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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