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Mangeet Kaur Bouns

Is Diamondback Energy (FANG) the Energy Stock to Buy Before Earnings?

FANG Diamondback Diamondback Energy Mangeet Kaur BounsMangeet Oil Diamondback Energy Inc

Diamondback Energy, Inc. (FANG), an independent oil and gas producer, plans to release its third quarter 2023 financial results on November 6, 2023, after the market close. Analysts expect revenue and EPS for the third quarter (ended September 2023) to decline 9.7% and 23% year-over-year to $2.20 billion and $4.99, respectively.

The energy company posted mixed earnings in the second quarter of 2023. FANG reported second-quarter revenue of $1.92 billion, beating the analysts’ expectations of $1.89 billion. However, the company’s adjusted net income came in at $3.68 per share, lower than the consensus estimate of $3.89.

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