MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — Diamondback Energy Inc. (FANG) on Tuesday reported fourth-quarter profit of $1.01 billion.
On a per-share basis, the Midland, Texas-based company said it had profit of $5.62. Earnings, adjusted for non-recurring gains, were $5.29 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $5.20 per share.
The energy exploration and production company posted revenue of $2.03 billion in the period, which met Street forecasts.
For the year, the company reported profit of $4.39 billion, or $24.61 per share. Revenue was reported as $9.64 billion.
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