Diamondback Energy Q1 profit falls to $25 million on $1.4 billion impairment
Diamondback Energy reported first quarter 2026 net income attributable to the company of $25 million, or $0.08 per diluted share, down from $1.4 billion, or $4.83 per diluted share, a year earlier. The results include a $1.4 billion impairment of oil and natural gas properties, while total revenues rose to $4.24 billion from $4.05 billion, and the company raised its 2026 oil production guidance and base dividend.
Key points
- Q1 2026 net income attributable to Diamondback was $25 million, or $0.08 per diluted share, versus $1,405 million, or $4.83 per share, in Q1 2025; adjusted net income was $1,198 million, or $4.23 per diluted share.
- Impairment of oil and natural gas properties was $1,400 million in Q1 2026, compared with none a year earlier.
- 2026 oil production guidance raised to 520+ thousand barrels per day from 500 to 510; full-year cash capital expenditures raised to about $3.90 billion from about $3.75 billion.
- Base cash dividend raised 5% to $1.10 per share, payable May 21, 2026; the company repurchased $548 million of stock in Q1 and has $2.1 billion remaining under its authorization as of May 1, 2026.
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.