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Diamondback Energy (FANG) guidance and outlook
Diamondback Energy (FANG) raised its guidance on Nov 2, 2026: Capital expenditures $4.0B for FY2026; Capital expenditures $1.0B–$1.1B for Q4 2026; Revenue +6.5% for Q4 2026; Tax rate 23% for Q4 2026. Diamondback Energy's 10-Q filed Nov 4, 2026 makes 13 forward-looking statements, 7 of them new and 6 no longer said since the filing before.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Capital expenditures | FY2026 | $4.0B | raised |
| Capital expenditures | Q4 2026 | $1.0B–$1.1B | new |
| Revenue | Q4 2026 | +6.5% | new |
| Tax rate | Q4 2026 | 23% | new |
From the earnings release filed Nov 2, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 4, 2026
- new · Additional takeaway capacity, including capacity under contracts we have secured, is expected to be placed into service in the fourth quarter of 2026 and early 2027, which we expect will further reduce our exposure to Waha Hub pricing.
- new · However, realized prices will continue to be influenced by, and subject to, future supply, demand, transportation availability and other market factors and the timing of new pipeline in-service dates is outside of our control.
- new · For the fourth quarter of 2026, we expect to maintain operational activity levels consistent with the third quarter of 2026.
- new · Looking forward to 2027, we expect that our strategic plan and related activity levels will be dictated by prevailing market conditions.
- Currently, we do not expect to record additional impairment of our assets in the fourth quarter of 2026.
- new · In support of our long-term strategy, we will continue to monitor market conditions and maintain the flexibility to adjust our development activity, if conditions warrant.
- We expect our inventory of development locations to enhance operational flexibility by providing the ability to adjust capital allocation, activity levels and development timing as market conditions evolve.
- new · On October 29, 2026, our board of directors approved raising our 2026 capital budget guidance to approximately $3.95 billion to $4.00 billion, an increase of 6% at the midpoint from our initial 2026 guidance, which includes $3.35 billion to $3.40 billion for operated horizontal drilling and completion.
- We could choose to defer a portion of these planned capital expenditures depending on a variety of factors, including but not limited to the success of our drilling activities, prevailing and anticipated prices for oil and natural gas, the availability of necessary equipment, infrastructure and capital, the receipt and timing of required regulatory permits and approvals, seasonal conditions, drilling and…
- We will continue monitoring commodity prices and overall market conditions and can adjust our rig cadence and our capital expenditure budget in response to changes in commodity prices and overall market conditions.
- new · At September 30, 2026, we expect to fund certain future capital commitments related to these investments which we estimate will range from approximately $494 million to approximately $944 million in the aggregate.
- As a result, we expect to incur additional future electrical power costs of approximately $519 million in the aggregate through 2034.
Diamondback Energy's latest quarter
Diamondback Energy, Q3 2026: revenue $5.4B (+38% year over year), operating margin 46.0%, net earnings $1.6B, operating cash flow $2.6B. The chart follows the revenue to costs, profit and cash.
Questions
Did Diamondback Energy raise or lower its guidance?
Diamondback Energy (FANG) raised its guidance on Nov 2, 2026: Capital expenditures $4.0B for FY2026; Capital expenditures $1.0B–$1.1B for Q4 2026; Revenue +6.5% for Q4 2026; Tax rate 23% for Q4 2026.
What does Diamondback Energy expect?
Additional takeaway capacity, including capacity under contracts we have secured, is expected to be placed into service in the fourth quarter of 2026 and early 2027, which we expect will further reduce our exposure to Waha Hub pricing. However, realized prices will continue to be influenced by, and subject to, future supply, demand, transportation availability and other market factors and the timing of new pipeline in-service dates is outside of our control. For the fourth quarter of 2026, we expect to maintain operational activity levels consistent with the third quarter of 2026.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.