Jun 2026 (Q2 FY26) — Aug 4, 2026
Diamondback Energy Q2 FY26 — Strong Operational Execution and Strategic Capital Allocation
Read the full callDiamondback Energy (FANG) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Diamondback Energy earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 5,562 | +51.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 45.2 | +14.2 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1,882 | +169.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
9 of 9 judged targets kept · 12 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Continuous-pumping conversion of frac fleets | convert the remaining simul-frac e-fleets to continuous pumping (2 of ~5 converted) | Sep 2025 | that first full quarter of continuous pumping over 21 hours of average pumping time per day | Achieved |
| FY2026 capital budget | $3.75 billion | Dec 2025 | we made that decision to spend more within our budget, but growth is the output | Revised Down |
| Barnett well cost per lateral foot | $800 per foot, down from $1,000 per foot | Dec 2025 | they're getting closer to $400 a foot. I think we have 5% or 10% to go | On Track |
12 of Diamondback Energy, Inc.'s 21 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 18 more targets are in the full ledger.
Claimed
- Production grew by 4% year-to-date FY26 from the start of the year.
- Waha gas prices turned positive for the entire month of July.
- Achieved over 21 hours of average pumping time per day in Q2 FY26, a new operational efficiency milestone.
- Wolfcamp D drilling costs hit stretch goals of $300 per foot, down from a budget of $3.50-$3.60 per foot.
- Reduced net debt by $1.6 billion in Q2 FY26, translating to $5.60 per share of value.
Qualified
- Casing prices are expected to increase by 1% to over 1% of total well cost in H2 FY26.
- Lease operating expense (LOE) is not expected to trend down in H2 FY26, likely circling $6 per barrel or higher.
- Ongoing geopolitical events contribute to heightened volatility in oil markets.
Price
$203.12 −0.41% · −$0.83
Performance +46.0% 1Y
1Y: $139.09 on 17 Oct 2025 → $203.12. High $213.69 (4 May 2026), low $137.29 (5 Nov 2025).
- Previous close
- $203.95
- 52-week range
- $137.29 – $213.69
- One year
- +43.86%
Overview
- Symbol
- FANG
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
9 of 9 judged targets kept · 12 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Continuous-pumping conversion of frac fleets | convert the remaining simul-frac e-fleets to continuous pumping (2 of ~5 converted) | Sep 2025 | that first full quarter of continuous pumping over 21 hours of average pumping time per day | Achieved |
| FY2026 capital budget | $3.75 billion | Dec 2025 | we made that decision to spend more within our budget, but growth is the output | Revised Down |
| Barnett well cost per lateral foot | $800 per foot, down from $1,000 per foot | Dec 2025 | they're getting closer to $400 a foot. I think we have 5% or 10% to go | On Track |
Claimed
- Production grew by 4% year-to-date FY26 from the start of the year.
- Waha gas prices turned positive for the entire month of July.
- Achieved over 21 hours of average pumping time per day in Q2 FY26, a new operational efficiency milestone.
- Wolfcamp D drilling costs hit stretch goals of $300 per foot, down from a budget of $3.50-$3.60 per foot.
- Reduced net debt by $1.6 billion in Q2 FY26, translating to $5.60 per share of value.
Qualified
- Casing prices are expected to increase by 1% to over 1% of total well cost in H2 FY26.
- Lease operating expense (LOE) is not expected to trend down in H2 FY26, likely circling $6 per barrel or higher.
- Ongoing geopolitical events contribute to heightened volatility in oil markets.
The full ledger
Open Diamondback Energy, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 21 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 5, 2026
Diamondback Energy Q1 FY26 — Green-light activity ramp into an oil-supply shock
Read the full callDec 2025 (Q4 FY25) — Feb 24, 2026
Diamondback Energy Q4 FY25 — Barnett Shale Resource Expansion and Operational Efficiency Drive Future Value
Read the full callEvery analysed call
Diamondback Energy earnings calls (FANG)
Financials
What the filings say
Net profit, year on year: +169% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,645 | 3,711 | 4,048 | 3,678 | 3,924 | 3,376 | 4,240 | 5,562 |
| Expenses | 1,935 | 2,299 | 2,375 | 2,539 | 2,688 | 6,158 | 4,124 | 3,050 |
| Operating profit | 710 | 1,412 | 1,673 | 1,139 | 1,236 | -2,782 | 116 | 2,512 |
| Operating margin | 26.8% | 38.0% | 41.3% | 31.0% | 31.5% | −82.4% | 2.7% | 45.2% |
| Other income | 208 | -7 | 221 | -196 | 134 | 449 | 60 | 123 |
| Profit before tax | 918 | 1,405 | 1,894 | 943 | 1,370 | -2,333 | 176 | 2,635 |
| Tax rate | 22.9% | 8.2% | 21.3% | 21.6% | 20.9% | 24.3% | 18.2% | 22.0% |
| Net profit | 659 | 1,074 | 1,405 | 699 | 1,018 | -1,458 | 25 | 1,882 |
| EPS ($ per share) | 3.19 | — | 4.83 | 2.38 | 3.51 | — | 0.08 | 6.65 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 762 | 890 | -3,864 | -1,998 | 801 | 2,489 | 4,238 | 4,740 |
| Total liabilities | 7,429 | 8,625 | 7,815 | 9,653 | 10,519 | 11,571 | 27,430 | 28,092 |
| Fixed assets | 20,372 | 21,835 | 16,214 | 20,619 | 23,759 | 26,674 | 64,472 | 68,621 |
| Total assets | 21,596 | 23,531 | 17,619 | 22,898 | 26,209 | 29,001 | 67,292 | 71,059 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,565 | 2,739 | 2,118 | 3,944 | 6,325 | 5,920 | 6,413 | 8,758 |
| Cash from investing | -3,503 | -3,888 | -2,101 | -1,539 | -3,330 | -3,323 | -11,221 | -7,809 |
| Cash from financing | 2,041 | 1,062 | -37 | -1,841 | -3,503 | -2,176 | 4,387 | -1,007 |
| Net cash flow | 103 | -87 | -20 | 564 | -508 | 421 | -421 | -58 |
| Capital expenditure | -3,170 | -3,786 | -1,983 | -2,244 | -3,613 | -4,714 | -11,787 | -9,461 |
| Free cash flow | -1,605 | -1,047 | 135 | 1,700 | 2,712 | 1,206 | -5,374 | -703 |
FANG revenue by segment
| Segment | Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | YoY growth latest quarter |
|---|---|---|---|---|
| Upstream Services | 100% | 100% | 100% | — |
| All Other Segments | 2% | 2% | 2% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
171 filings between Nov 6, 2025 and Oct 5, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$8.91B
95 sales by 11 insiders
44% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 29
- Award — granted as compensation
- 36
- Tax withheld — shares kept back by the company to cover tax
Also filed: 11 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| SGF FANG Holdings, LP | — | $8.74B | Sep 16, 2026 |
| Meloy Charles Alvin | — | $99.74M | Oct 5, 2026 |
| Stice Travis D. | — | $33.44M | Sep 11, 2026 |
| Van't Hof Matthew Kaes | — | $9.50M | Aug 20, 2026 |
| Zmigrosky Matt | — | $8.90M | Sep 15, 2026 |
| Dick Teresa L. | — | $8.44M | Sep 15, 2026 |
| Wesson Daniel N | — | $6.79M | Aug 20, 2026 |
| Barkmann Albert | — | $1.34M | May 15, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 5, 2026 | Meloy Charles Alvin Director | Sale 10b5-1 plan | 6,354 | $1.18M |
| Oct 5, 2026 | Meloy Charles Alvin Director | Sale 10b5-1 plan | 6,476 | $1.19M |
| Oct 5, 2026 | Meloy Charles Alvin Director | Sale 10b5-1 plan | 20,503 | $3.76M |
| Sep 16, 2026 | Meloy Charles Alvin Director | Gift | 25,000 | $0 |
| Sep 16, 2026 | Meloy Charles Alvin Director | Gift | 12,500 | $0 |
| Sep 16, 2026 | Meloy Charles Alvin Director | Gift | 12,500 | $0 |
| Sep 16, 2026 | SGF FANG Holdings, LP 10% owner | Sale | 9,079,675 | $1.86B |
| Sep 16, 2026 | SGF FANG Holdings, LP 10% owner | Sale | 9,079,675 | $1.86B |
| Sep 15, 2026 | Meloy Charles Alvin Director | Gift | 12,500 | $0 |
| Sep 15, 2026 | Meloy Charles Alvin Director | Gift | 12,500 | $0 |
| Sep 15, 2026 | Dick Teresa L. EVP Accounting, Assist. Sec. | Sale | 5,000 | $1.05M |
| Sep 15, 2026 | Zmigrosky Matt EVP, Chief Legal and Admin Off | Sale | 1,326 | $281.8K |
| Sep 15, 2026 | Meloy Charles Alvin Director | Gift | 25,000 | $0 |
| Sep 11, 2026 | Stice Travis D. Director | Sale | 75,000 | $15.32M |
| Sep 10, 2026 | Zmigrosky Matt EVP, Chief Legal and Admin Off | Tax withheld | 861 | $174.5K |
| Sep 10, 2026 | Barkmann Albert Exec. VP and Chief Engineer | Tax withheld | 682 | $138.2K |
| Aug 21, 2026 | Plaumann Mark Lawrence Director | Sale | 1,000 | $210.6K |
| Aug 20, 2026 | Van't Hof Matthew Kaes Chief Executive Officer | Sale | 9,500 | $2.04M |
| Aug 20, 2026 | Van't Hof Matthew Kaes Chief Executive Officer | Sale | 500 | $107.5K |
| Aug 20, 2026 | Wesson Daniel N Exec. VP & COO | Sale | 7,500 | $1.61M |
| Aug 14, 2026 | Zmigrosky Matt EVP, Chief Legal and Admin Off | Sale | 2,500 | $506.9K |
| Aug 14, 2026 | Thompson Jere W III CFO, Executive VP | Sale | 500 | $102.1K |
| Aug 11, 2026 | Van't Hof Matthew Kaes Chief Executive Officer | Sale | 5,000 | $1.01M |
| Aug 3, 2026 | Meloy Charles Alvin Director | Sale 10b5-1 plan | 3,986 | $785.5K |
| Aug 3, 2026 | Meloy Charles Alvin Director | Sale 10b5-1 plan | 2,730 | $544.5K |
| Aug 3, 2026 | Meloy Charles Alvin Director | Sale 10b5-1 plan | 19,055 | $3.79M |
| Aug 3, 2026 | Meloy Charles Alvin Director | Sale 10b5-1 plan | 7,562 | $1.50M |
| Jun 17, 2026 | Van't Hof Matthew Kaes Chief Executive Officer | Gift | 2,674 | $0 |
| Jun 16, 2026 | Meloy Charles Alvin Director | Sale 10b5-1 plan | 4,049 | $759.9K |
| Jun 16, 2026 | Meloy Charles Alvin Director | Sale 10b5-1 plan | 64,747 | $12.12M |
| Jun 16, 2026 | Meloy Charles Alvin Director | Sale 10b5-1 plan | 14,538 | $2.71M |
| Jun 9, 2026 | Plaumann Mark Lawrence Director | Sale | 500 | $98.3K |
| Jun 4, 2026 | Dick Teresa L. CAO, Exec. VP, Assist. Sec. | Sale | 5,000 | $1.02M |
| Jun 4, 2026 | SGF FANG Holdings, LP 10% owner | Sale | 10,000,000 | $2.04B |
| Jun 3, 2026 | Van't Hof Matthew Kaes Chief Executive Officer | Sale | 10,000 | $2.10M |
| Jun 3, 2026 | Van't Hof Matthew Kaes Chief Executive Officer | Sale | 5,000 | $1.02M |
| Jun 3, 2026 | Zmigrosky Matt EVP, Chief Legal and Admin Off | Sale | 5,000 | $1.05M |
| Jun 2, 2026 | Dick Teresa L. CAO, Exec. VP, Assist. Sec. | Sale | 7,000 | $1.41M |
| Jun 1, 2026 | Zmigrosky Matt EVP, Chief Legal and Admin Off | Sale | 5,000 | $1.00M |
| May 20, 2026 | WEST STEVEN E Director | Award | 982 | $0 |
| May 20, 2026 | Plaumann Mark Lawrence Director | Award | 982 | $0 |
| May 20, 2026 | Meloy Charles Alvin Director | Award | 982 | $0 |
| May 20, 2026 | REEVES ROBERT K Director | Award | 982 | $0 |
| May 20, 2026 | Brooks Vincent K Director | Award | 982 | $0 |
| May 20, 2026 | Robertson Lance W Director | Award | 982 | $0 |
| May 20, 2026 | Tsuru Frank D. Director | Award | 982 | $0 |
| May 20, 2026 | Stice Travis D. Director | Award | 982 | $0 |
| May 20, 2026 | HOLDERNESS DARIN G Director | Award | 982 | $0 |
| May 20, 2026 | Trent Melanie Montague Director | Award | 982 | $0 |
| May 20, 2026 | KLEIN REBECCA A Director | Award | 982 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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