Diamondback (FANG) Beats on Q2 Earnings, Ups Production View

U.S. energy operator Diamondback Energy (FANG) reported second-quarter 2024 adjusted earnings per share of $4.52, which beat the Zacks Consensus Estimate of$4.46 and increased from the year-ago adjusted figure of $3.68. The outperformance primarily reflects stronger production and a gain in overall realization. Meanwhile, revenues of$2.5 billion rose 23.4% from the year-ago quarter's sales and outperformed the Zacks Consensus Estimate by 14%. In good news for investors, the company is using the excess cas ...