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Diamondback (FANG) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates

By Zacks Equity Research | February 23, 2026, 6:30 PM

For the quarter ended December 2025, Diamondback Energy (FANG) reported revenue of $3.38 billion, down 9% over the same period last year. EPS came in at $1.74, compared to $3.64 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.15 billion, representing a surprise of +7.01%. The company delivered an EPS surprise of -7.2%, with the consensus EPS estimate being $1.88.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Diamondback performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Average daily production / Daily combined volumes: 969,120.00 BOE/D versus 951,118.10 BOE/D estimated by nine analysts on average.
  • Average Prices - Natural gas liquids, hedged: $/13.51 versus the six-analyst average estimate of $/14.41.
  • Average Prices - Oil -hedged: $/57.07 versus $/57.12 estimated by six analysts on average.
  • Average Prices - Natural gas, hedged: $1.03 per thousand cubic feet versus $1.12 per thousand cubic feet estimated by six analysts on average.
  • Average Prices - Natural gas liquids: $/13.51 versus the five-analyst average estimate of $/14.14.
  • Total Production Volume - Natural gas liquids: 21,684.00 MBBL versus 20,973.56 MBBL estimated by five analysts on average.
  • Total Production Volume - Natural gas: 121,805.00 MMcf compared to the 118,400.70 MMcf average estimate based on five analysts.
  • Total Production Volume - Oil: 47,174.00 MBBL versus the five-analyst average estimate of 46,918.53 MBBL.
  • Total Production Volume (Combined volumes): 89,159.00 MBOE versus 87,625.53 MBOE estimated by five analysts on average.
  • Average Prices - Oil: $/58 compared to the $/56.62 average estimate based on five analysts.
  • Revenues- Oil, natural gas and natural gas liquid: $3.03 billion compared to the $3.02 billion average estimate based on five analysts. The reported number represents a change of -12.6% year over year.
  • Revenues- Other operating income: $35 million versus $24.12 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +133.3% change.

View all Key Company Metrics for Diamondback here>>>

Shares of Diamondback have returned +14.3% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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