Q1 25 EPS
$4.54
BEAT +8.19%
Est. $4.20
Q1 25 Revenue
$4.05B
BEAT +7.84%
Est. $3.75B
vs S&P Since Q1 25
+31.0%
BEATING MARKET
FANG +60.0% vs S&P +29.0%
Market Reaction
Did FANG Beat Earnings? Q1 2025 Results
Diamondback Energy opened 2025 with a decisive earnings beat, posting adjusted EPS of $4.54 against a consensus estimate of $4.20, a beat of 8.19%, while revenue of $4.05 billion topped expectations of $3.75 billion by 7.84% and surged 82.5% year ove… Read more Diamondback Energy opened 2025 with a decisive earnings beat, posting adjusted EPS of $4.54 against a consensus estimate of $4.20, a beat of 8.19%, while revenue of $4.05 billion topped expectations of $3.75 billion by 7.84% and surged 82.5% year over year. The primary engine behind those numbers was the Endeavor merger, which nearly doubled production volumes and lifted net income to $1.41 billion, with oil output reaching 475.9 MBO/d and edging above the company's own guided range. Yet the headline performance arrived alongside a notably cautious pivot: Diamondback is trimming its full-year 2025 capital budget by roughly 10% to $3.40-$3.80 billion, dropping three rigs and one completion crew in Q2 amid commodity price weakness, a posture echoed across the Permian Basin where frac crew counts have fallen sharply year-to-date. Full-year oil production guidance was cut only 1% at the midpoint to 480-495 MBO/d, as improved capital efficiency largely absorbed the activity reduction, and CEO Travis Stice, who will transition to Executive Chairman with Kaes Van't Hof stepping up as CEO, signaled flexibility to adjust further depending on where oil prices settle.
Key Takeaways
- • Oil production of 475.9 MBO/d exceeded high end of guidance range of 470-475 MBO/d
- • Capital expenditures of $942 million came in below midpoint of $900-$1,000 million guidance
- • Improved natural gas pricing at $2.11/Mcf vs $0.48/Mcf in Q4 2024 and $0.99/Mcf in Q1 2024
- • Cash operating costs of $10.48/BOE, down from $11.52/BOE in Q1 2024
- • Average 8.8 days spud to target depth, fastest in company history
- • Nearly doubled production volumes year-over-year from Endeavor merger integration
- • Lowered Midland Basin well cost estimate by ~2% for 2025
FANG YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
FANG Revenue by Segment
With YoY comparisons, source: SEC Filings
“We have spent the last five years positioning the Company to excel in periods of both strength and weakness, and are confident we will build off a strong first quarter to continue delivering differentiated results for our stockholders.”
— Travis D. Stice, Q1 2025 Earnings Press Release
FANG Earnings Trends
FANG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FANG EPS Trend
Earnings per share: estimate vs actual
FANG Revenue Trend
Quarterly revenue: estimate vs actual
FANG Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 MISS FY | $2.41 | $1.74 | -27.80% | $3.38B | +3.02% |
| FY Full Year | $12.30 | $13.37 | +8.69% | $15.03B | +0.96% |
| Q3 25 BEAT | $2.94 | $3.08 | +4.59% | $3.92B | +11.17% |
| Q2 25 MISS | $2.73 | $2.67 | -2.23% | $3.68B | +10.30% |
| Q1 25 BEAT | $4.20 | $4.54 | +8.19% | $4.05B | +7.84% |
| Q3 24 MISS | $3.99 | $3.38 | -15.29% | $2.65B | +8.33% |
| Q2 24 BEAT | $4.51 | $4.52 | +0.22% | $2.48B | +13.69% |