The financials
Diamondback Energy by the numbers
Diamondback Energy (FANG) reported revenue of $5.56B in Q2 2026 (quarter ended June 30, 2026), up 51% from the same quarter a year earlier. That came with net income of $1.88B (34% of revenue). For the full year FY2025, revenue was $15.0B (+36% year on year) and net income $1.66B. Its largest product in 2026-Q1 was Oil Explorationand Production at $3.44B, 82% of the disclosed total, just ahead of Oil Purchased at 9.1%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $5.56B | $3.68B | +51% |
| Operating income | $2.51B | $1.14B | +121% |
| Net income | $1.88B | $699M | +169% |
| Diluted EPS | $6.65 | $2.38 | +179% |
| Product | Revenue | Share |
|---|---|---|
| Oil Explorationand Production | $3.44B | 82% |
| Oil Purchased | $385M | 9.1% |
| Natural Gas Liquids Production | $359M | 8.5% |
| Natural Gas Production | $21M | 0.5% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $4.21B (+7.8%)
Oil Exploration and Production grew +13% year on yearNatural Gas Production -90% year on year
Segment Latestquarter on quarteryear on year
- Oil Exploration and Production$3.44B$3.44BQoQ +15%year on year +13%+15%+13%
- Oil Purchased$385.0M$385.0MQoQ -16%year on year +2.9%-16%+2.9%
- Natural Gas Liquids Production$359.0M$359.0MQoQ -1.9%year on year -12%-1.9%-12%
- Natural Gas Production$21.0M$21.0MQoQ -76%year on year -90%-76%-90%