Global Finance News
06 May 2025, 09:37
Diamondback Energy Q1 2025 Earnings Summary
Diamondback Energy reported net income of $1.4 billion ($4.83 per diluted share) in Q1 2025, up from $768 million ($4.28 per share) in Q1 2024, driven by strong production and commodity prices. Adjusted net income was $1.32 billion ($4.54 per share). Total revenue rose to $4.05 billion from $2.23 billion a year ago.
Production averaged 851 MBOE/d, with oil output at 476 MBO/d. The company realized average unhedged prices of $70.95 per barrel of oil and $47.77 per BOE overall. Adjusted EBITDA was $2.8 billion, with free cash flow of $1.5 billion and adjusted free cash flow of $1.6 billion.
Diamondback repurchased 3.7 million shares for $575 million and declared a $1.00 per share dividend, returning 55% of adjusted free cash flow to shareholders in Q1. As of March 31, 2025, the company had $1.3 billion in standalone cash and $12.3 billion in net debt.
Due to commodity price volatility, full-year capital guidance was reduced to $3.4–$3.8 billion (down from $3.8–$4.2 billion). Oil production is now guided at 480–495 MBO/d, with improved capital efficiency (~49.4 MBO per $MM of CAPEX). Q2 capex is expected to be $800–$900 million.
The company closed the Double Eagle acquisition on April 1 and a drop-down to Viper Energy on May 1. Diamondback plans to remain flexible on capital allocation, with the ability to adjust based on future market conditions.
Diamondback Energy reported net income of $1.4 billion ($4.83 per diluted share) in Q1 2025, up from $768 million ($4.28 per share) in Q1 2024, driven by strong production and commodity prices. Adjusted net income was $1.32 billion ($4.54 per share). Total revenue rose to $4.05 billion from $2.23 billion a year ago.
Production averaged 851 MBOE/d, with oil output at 476 MBO/d. The company realized average unhedged prices of $70.95 per barrel of oil and $47.77 per BOE overall. Adjusted EBITDA was $2.8 billion, with free cash flow of $1.5 billion and adjusted free cash flow of $1.6 billion.
Diamondback repurchased 3.7 million shares for $575 million and declared a $1.00 per share dividend, returning 55% of adjusted free cash flow to shareholders in Q1. As of March 31, 2025, the company had $1.3 billion in standalone cash and $12.3 billion in net debt.
Due to commodity price volatility, full-year capital guidance was reduced to $3.4–$3.8 billion (down from $3.8–$4.2 billion). Oil production is now guided at 480–495 MBO/d, with improved capital efficiency (~49.4 MBO per $MM of CAPEX). Q2 capex is expected to be $800–$900 million.
The company closed the Double Eagle acquisition on April 1 and a drop-down to Viper Energy on May 1. Diamondback plans to remain flexible on capital allocation, with the ability to adjust based on future market conditions.
