Q2 25 EPS
$2.67
MISS 2.23%
Est. $2.73
Q2 25 Revenue
$3.68B
BEAT +10.30%
Est. $3.33B
vs S&P Since Q2 25
+29.8%
BEATING MARKET
FANG +44.6% vs S&P +14.8%
Market Reaction
Did FANG Beat Earnings? Q2 2025 Results
Diamondback Energy delivered a split-second quarter for Q2 2025, posting adjusted EPS of $2.67 against a consensus estimate of $2.73, a 2.23% miss, while revenue of $3.68 billion cleared expectations by 10.30% and surged 48.7% year over year. The div… Read more Diamondback Energy delivered a split-second quarter for Q2 2025, posting adjusted EPS of $2.67 against a consensus estimate of $2.73, a 2.23% miss, while revenue of $3.68 billion cleared expectations by 10.30% and surged 48.7% year over year. The divergence tells the story of a Permian operator caught between record operational efficiency and a punishing commodity price environment, with unhedged oil realizations sliding to $63.23 per barrel from $79.51 a year ago. New CEO Kaes Van't Hof, stepping into the role in May, used the quarter to accelerate a disciplined pullback, dropping four operated rigs to 13 and cutting the full-year capital budget by another $100 million to $3.40 to $3.60 billion, now 13% below the original midpoint. Despite that reduced spend, Diamondback narrowed its oil production guidance upward to 485 to 492 MBO/d, while the board expanded its buyback authorization by $2 billion to $8 billion total, signaling confidence in free cash flow even as management warned that U.S. Shale production has likely peaked at current prices.
Key Takeaways
- • Record-low drilling and completion cycle times driving capital efficiency
- • Completions crews averaged over 3,900 completed lateral feet per day, a company quarterly record
- • Endeavor merger synergies and lower service costs reducing capital budget
- • Cash operating costs fell to $10.10/BOE with LOE of $5.26/BOE
- • Oil production near top of guidance at 495.7 MBO/d despite reduced rig count
- • Improved gas capture and liquids yields in Martin County following Energy Transfer operations
- • Drilled longest well in company history at 31,035 feet total depth
FANG YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
FANG Revenue by Segment
With YoY comparisons, source: SEC Filings
“We continue to believe that, at current oil prices, U.S. shale oil production has likely peaked and activity levels in the Lower 48 will remain depressed.”
— Kaes Van't Hof, Q2 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% |