Diamondback Energy (ticker symbol: FANG) announced its financial results for the period July to September 2021 on November 1, 2021.
Financial results for July-September 2021
EPS of $2.94 vs. forecast of $2.81.
Sales: $1.91 billion vs. forecast of $1.48 billion.
Sales growth rate was +165.3% YoY.
Operating cash flow was $1.2 billion.
Capital expenditures were $391 million.
Free cash flow was $740 million.
50% of free cash flow will be returned to shareholders.
We will raise our annual dividend by 11.1% to $2.00 per share.