Diamondback Q3 Earnings Lag Estimates, Updates Guidance Post Merger
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Diamondback Energy's Q3 earnings fell short of estimates. Following a merger, the company updated its 2024 guidance, projecting an increase in hydrocarbon production to 587,000-590,000 BOE/d from the previous 462,000-470,000 BOE/d.
November 13, 2024 | 2:45 pm
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NEUTRAL IMPACT
Diamondback Energy's Q3 earnings were below expectations. The company has updated its 2024 production guidance to 587,000-590,000 BOE/d, reflecting growth post-merger.
The earnings miss could negatively impact short-term stock prices, but the updated guidance with increased production post-merger may offset this by indicating future growth potential.
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