Diamondback Energy Q3 EPS $5.49 Beats $4.92 Estimate, Sales $2.34B Beat $2.14B Estimate
Portfolio Pulse from Benzinga Newsdesk
Diamondback Energy (NASDAQ:FANG) reported Q3 earnings of $5.49 per share, beating the analyst consensus estimate of $4.92 by 11.59%. However, this is a 15.28% decrease from the same period last year. The company also reported quarterly sales of $2.34 billion, beating the estimate of $2.14 billion by 9.35%, but marking a 3.98% decrease from last year.
November 06, 2023 | 9:05 pm
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NEUTRAL IMPACT
Diamondback Energy's Q3 earnings and sales exceeded estimates, but both showed a decrease compared to the same period last year.
While Diamondback Energy beat Q3 estimates, the year-over-year decrease in both earnings and sales could potentially offset the positive impact of beating estimates. This mixed result makes the short-term impact on the stock price uncertain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100