Diamondback Q3: $1.6B Net Income, Dividend Raised 7.3% to $4.72, 2026 Guidance Lifted
FANG sits 48% above its 52-week low of $137.03.
Summary
Diamondback reported Q3 2026 net income of $1.6 billion ($5.69 per diluted share) and $2.1 billion of free cash flow, raised its annual base dividend 7.3% to $4.72 per share, and lifted full-year production guidance to ~524 MBO/d oil.
Key Events · Earnings and Guidance · FANG
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Q3 Earnings: $1.6B Net Income
Net income attributable to Diamondback was $1,603 million, or $5.69 per diluted share ($5.86 adjusted), on total revenues of $5,431 million; operating cash flow was $2,599 million and free cash flow $2,148 million.
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Base Dividend Raised 7.3%
The board approved a 7.3% increase in the annual base dividend to $4.72 per share, with the Q3 payment of $1.18 per share payable November 19, 2026 to holders of record November 12, 2026.
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Guidance Raised, Capex Bumped
Full-year 2026 oil guidance rose to ~524 MBO/d (from 522+) and total production to ~1,015 MBOE/d (from 1,000+), while cash capex guidance increased to $3.95-$4.00 billion (from ~$3.9 billion); Q4 oil guidance is 518-528 MBO/d.
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Buybacks and Debt Reduction
Diamondback repurchased 1,348,209 shares for ~$251 million at a weighted average $185.94 in Q3 and another 389,841 shares for ~$73 million in Q4 to date; consolidated net debt fell to $12,817 million from $15,893 million a year earlier.
Analysis · FANG · Energy & Transportation
For a $56 billion producer, the dividend step-up and per-share growth (oil production per share up 15% since the Endeavor merger) are the parts that matter to holders. Diamondback earned $1.6 billion in Q3 ($5.69 diluted EPS, $5.86 adjusted) on $5.43 billion of revenue and generated $2.1 billion of free cash flow, funding a 7.3% base dividend increase to $4.72 annually and $251 million of buybacks at an average $185.94. The company also nudged full-year oil guidance up to ~524 MBO/d and total production to ~1,015 MBOE/d while raising capex to $3.95-$4.00 billion, and cut consolidated net debt to $12.8 billion from $15.9 billion a year earlier. Behind the numbers, the stockholder letter frames Permian gas, LNG and West Texas data-center power as the next decade's growth themes.
How filings like this one have moved
In the 30 days to Nov 3, 2026, 32.3% of the 2077 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FANG was trading at $203.36 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $55.9B. The 52-week trading range was $137.03 to $216.90. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.