Filing Flows › Diamondback Energy (FANG) › Q3 2026
Diamondback Energy (FANG) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Diamondback Energy (FANG) reported revenue of $5.4B for the third quarter 2026 (Q3 2026), +38% from a year earlier and -2% from the quarter before. Operating margin was 46.0%, net earnings $1.6B (29.5% of revenue).
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.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.4B | -2% | +38% |
| Operating profit | $2.5B | -0.5% | +102% |
| Net earnings | $1.6B | -15% | +57% |
| Operating cash flow | $2.6B | -28% | +9% |
| Free cash flow | $1.4B | -44% | +70% |
What changed
Revenue was $5.4B in Q3 2026, up 38% year over year and down 2% from the previous quarter.
Operating profit was $2.5B, a 46.0% margin (up 14.5 points year over year). Of the extra revenue versus Q3 2025, 84% reached operating profit, above the 31% margin then. Total costs grew 9% against revenue growth of 38%. The fastest-growing cost line was SG&A (+19%). Net earnings were $1.6B, up 57% year over year. The effective tax rate was 22.1%.
Operating cash flow was $2.6B (up 9% year over year), 147% of net income including minority interests. Non-cash charges added back $1.3B of depreciation and amortization. Working capital and other items used $0.49B. Capital expenditures of $1.2B left free cash flow of $1.4B.
Questions
What was Diamondback Energy's revenue in the third quarter 2026?
Diamondback Energy (FANG) reported revenue of $5.4B for the third quarter 2026 (Q3 2026), +38% from a year earlier and -2% from the quarter before.
Was Diamondback Energy profitable in the third quarter 2026?
Operating profit was $2.5B (46.0% of revenue) and net earnings $1.6B.
Source: Diamondback Energy 10-Q on SEC EDGAR.