Revenue Growth Remains Modest but Positive
Total revenue grew 4.7% YoY to $4.24B in Q1 FY2026 from $4.05B in the prior-year period, suggesting the underlying business continues to generate top-line growth even as profitability was severely impacted.
Diamondback Energy, Inc. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: FANG reported Q1 FY2026 revenue of $4.24B (+4.7% YoY) but saw a dramatic collapse in profitability, with operating income plunging 93.1% to $116M and net income falling 98.2% to just $25M, likely driven by a significant one-time or non-cash charge.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue grew 4.7% YoY to $4.24B in Q1 FY2026 from $4.05B in the prior-year period, suggesting the underlying business continues to generate top-line growth even as profitability was severely impacted.
Operating income fell 93.1% YoY to $116M (vs. $1.67B prior year), and net income dropped 98.2% to $25M (vs. $1.41B prior year), indicating a massive increase in costs or a large non-recurring charge that was not present in the prior year period.
Operating margin contracted from approximately 41.3% in Q1 FY2025 to just 2.7% in Q1 FY2026, a decline of roughly 38.6 percentage points, reflecting the outsized impact of elevated costs or impairment charges relative to revenue.
Revenue
$4.24B
++4.74% YoY
EPS (Basic)
$0.08
-98.34% YoY
Operating Income
$116M
-93.07% YoY
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