Diamondback Energy (FANG) Revenue — Quarter Ended Jun 30, 2024
Revenue for the quarter increased compared to both the prior quarter and the same quarter last year. The growth extended the upward trend seen in recent periods.
Key takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue for the quarter increased compared to both the prior quarter and the same quarter last year. The growth extended the upward trend seen in recent periods.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.5B
Revenue reported for this quarter.
Quarter-over-quarter
+11.5%
Change from the immediately preceding quarter.
Year-over-year
+29.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$9.3B
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 |
|---|---|---|
| Sep 30, 2023 | $2.3B | -4.0% |
| Dec 31, 2023 | $2.2B | +9.8% |
| Mar 31, 2024 | $2.2B | +15.7% |
| Jun 30, 2024 | $2.5B | +29.4% |
Revenue performance
Revenue rose, building on the sequential gains observed in the previous quarter. The improvement marks a continuation of the positive trajectory from the prior period.
Quarterly comparison
When compared to the previous quarter, revenue showed an increase. The year-over-year comparison also showed a substantial rise, indicating stronger performance than the same period a year ago.
What to watch
The filing discusses the pending Endeavor Acquisition and the revised capital budget, which are factors to monitor for future revenue development.