Diamondback Energy's first quarter 2026 adjusted EPS of $4.23 beat estimates as it raised its dividend and full-year production guidance.

Diamondback Energy reported first quarter 2026 revenue of $3.83 billion and adjusted EPS of $4.23, beating analyst expectations of $3.55. The company generated $1.7 billion in adjusted free cash flow and reported average daily production of 979.4 thousand barrels of oil equivalent per day (MBOE/d), also ahead of estimates.

Key Highlights

• Diamondback raised its full-year 2026 total production guidance to 972+ MBOE/d, up from a previous range of 926 - 962 MBOE/d, alongside a corresponding increase in its capital expenditure forecast.
• The company increased its quarterly base dividend to $1.10 per share, marking a 10% year-over-year increase.
• Total capital returned to shareholders in the quarter amounted to $859 million, consisting of $548 million in share repurchases and the declared dividend, representing approximately 50% of adjusted free cash flow.