Diamondback Energy (FANG) Revenue — Quarter Ended Sep 30, 2023
Revenue for the quarter increased compared to the immediately preceding quarter but declined relative to the same quarter one year earlier. The sequential upturn followed a period of consecutive declines in prior quarters.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue for the quarter increased compared to the immediately preceding quarter but declined relative to the same quarter one year earlier. The sequential upturn followed a period of consecutive declines in prior quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.3B
Revenue reported for this quarter.
Quarter-over-quarter
+21.9%
Change from the immediately preceding quarter.
Year-over-year
-4.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $2B | -1.5% |
| Mar 31, 2023 | $1.9B | -19.4% |
| Jun 30, 2023 | $1.9B | -30.3% |
| Sep 30, 2023 | $2.3B | -4.0% |
Revenue performance
Revenue rose from the prior quarter, marking a sequential improvement after several quarters of decline.
Quarterly comparison
Compared with the same quarter one year ago, revenue was lower, reflecting a year-over-year decrease.
What to watch
The sequential revenue rebound breaks a pattern of prior declines, but the year-over-year contraction remains a point to monitor.