Published on 16 Feb 2022 on Zacks via Yahoo Finance

This is Why Diamondback (FANG) is Set for Strong Q4 Earnings

Diamondback Energy, Inc. FANG is set to release fourth-quarter results after the closing bell on Feb 22. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of $3.37 per share on revenues of $1.7 billion.Let’s delve into the factors that might have influenced the Permian-focused oil and gas producer’s performance in the December quarter. But it’s worth taking a look at FANG’s previous-quarter performance first.

Highlights of Q3 Earnings & Surprise History

In the last-reported quarter, this Midland, TX-based upstream player beat the consensus mark on better-than-expected production. Diamondback Energy had reported adjusted earnings per share of $2.94, ahead of the Zacks Consensus Estimate by 13 cents. Revenues of $1.9 billion generated by the firm also came in above the Zacks Consensus Estimate of $1.5 billion.FANG beat the Zacks Consensus Estimate in each of the last four quarters, which resulted in an earnings surprise of 11.7%, on average. This is depicted in the graph below: