Diamondback Energy (NASDAQ: FANG) reported Q2 EPS of $2.67, $0.19 worse than the analyst estimate of $2.86. Revenue for the quarter came in at $3.68 billion versus the consensus estimate of $3.38 billion.

UPDATED 2025 GUIDANCE HIGHLIGHTS

Narrowing full year oil production guidance to 485 - 492 MBO/d and increasing annual BOE guidance by 2% to 890 - 910 MBOE/d
Lowering full year cash capital expenditures to $3.4 - $3.6 billion; $100 million (3%) below prior midpoint and down $500 million (13%) from original full year 2025 guidance midpoint
Implies full year 2025 oil production per million dollars of cash capital expenditures ("MBO per $MM of CAPEX") of 50.9, ~14% better than original guidance
The Company expects to drill 425 - 450 gross (395 - 418 net) wells and complete between 490 - 515 gross (458 - 482 net) wells with an average lateral length of approximately 11,500 feet in 2025
Q3 2025 oil production guidance of 485 - 495 MBO/d (890 - 920 MBOE/d)
Q3 2025 cash capital expenditures guidance of $750 - $850 million

For earnings history and earnings-related data on Diamondback Energy (FANG) click here.