Diamondback (FANG) Q4 Earnings Beat Estimates on Strong Output

U.S. energy operator Diamondback Energy (FANG) reported fourth-quarter 2023 adjusted earnings per share of $4.74, beating the Zacks Consensus Estimate of $4.61. The outperformance primarily reflects strong production.However, the bottom line declined from the year-ago adjusted figure of $5.29 due to a drop in overall realization and higher costs.Meanwhile, revenues of $2.2 billion rose 9.8% from the year-ago quarter’s sales and outperformed the Zacks Consensus Estimate by $81 million.In good news for invest ...