Diamondback Q3 2026: EPS beat, dividend up 7.3%, oil guidance raised
The quarter beat on earnings, raised the dividend and lifted oil guidance — a good quarter by any reading. Adjusted EPS of $5.86 topped the $5.57 consensus, revenue of $5.43 billion rose 38.4% year over year, and free cash flow of $2.15 billion covered $1.03 billion of capital spending. The caveat is price: realized oil fell to $87.30 a barrel from $96.82 in Q2.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $5.69 beat the $5.5683 consensus by about 2.2%, and adjusted EPS of $5.86 beat it by 5.2%. The gap between the two lines is small: $85 million of non-cash derivative losses and a $4 million debt extinguishment gain, worth roughly $0.24 a share combined. This is an operating beat, not an accounting one.
Revenue of $5.43 billion was 38.4% above the $3.92 billion booked a year earlier, but 2.4% below the $5.56 billion in Q2 2026. Both a better realized oil price ($87.30 versus $64.60 a barrel) and higher volumes (1,034 MBOE/d versus 943 MBOE/d) drove the year-over-year jump. The sequential decline is the part to notice, because it came entirely from price.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-04
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