Filing Flows › Diamondback Energy (FANG) › Q2 2026 › vs Q1 2026
Diamondback Energy (FANG) Q2 2026 vs Q1 2026 (quarter over quarter)
Diamondback Energy's revenue rose $1.3B (+31%) from $4.2B in Q1 2026 to $5.6B in Q2 2026. Operating margin 45.2% against 2.7% (+42.4 pts).
Diamondback Energy, Q2 2026: revenue $5.6B (+51% year over year), operating margin 45.2%, net earnings $1.9B, operating cash flow $3.6B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 45.2% | 2.7% | +42.4 pts |
| Net margin | 33.8% | 0.6% | +33.2 pts |
| Free cash flow margin | 46.6% | 21.1% | +25.5 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $5.6B | $4.2B | $1.3B | +31% |
| Other income, net | $123M | $60.0M | $63.0M | +105% |
| Operating profit | $2.5B | $116M | $2.4B | 22× |
| Costs & expenses | $3.0B | $4.1B | −$1.1B | -26% |
| Pre-tax earnings | $2.6B | $176M | $2.5B | 15× |
| SG&A | $72.0M | $79.0M | −$7.0M | -9% |
| Other operating costs | $3.0B | $4.0B | −$1.1B | -26% |
| Net earnings | $1.9B | $25.0M | $1.9B | 75× |
| Minority interests | $173M | $119M | $54.0M | +45% |
| Income tax | $580M | $32.0M | $548M | 18× |
| Depreciation & amortization | $1.3B | $1.3B | −$21.0M | -2% |
| Working capital & other | $435M | $510M | −$75.0M | -15% |
| Operating cash flow | $3.6B | $1.8B | $1.8B | +96% |
| Free cash flow (OCF − capex) | $2.6B | $895M | $1.7B | +190% |
| Capital expenditures | $996M | $933M | $63.0M | +7% |
Questions
How much did Diamondback Energy's revenue grow quarter over quarter in Q2 2026?
Diamondback Energy's revenue rose $1.3B (+31%) from $4.2B in Q1 2026 to $5.6B in Q2 2026. Operating margin 45.2% against 2.7% (+42.4 pts).