Diamondback Energy (FANG) reported $3.71 billion in revenue for the quarter ended December 2024, representing a year-over-year increase of 66.6%. EPS of $3.64 for the same period compares to $4.74 a year ago.

The reported revenue represents a surprise of +9.18% over the Zacks Consensus Estimate of $3.4 billion. With the consensus EPS estimate being $3.26, the EPS surprise was +11.66%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Diamondback performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Average daily production / Daily combined volumes: 883,424 BOE/D versus the eight-analyst average estimate of 848,018.4 BOE/D.
• Total Production Volume (Combined volumes): 81,275 MBOE versus the five-analyst average estimate of 77,953.35 MBOE.
• Average Prices - Natural gas liquids, hedged: $19.27 per barrel versus $19.37 per barrel estimated by five analysts on average.
• Total Production Volume - Oil: 43,785 MBBL compared to the 43,547.94 MBBL average estimate based on five analysts.
• Total Production Volume - Natural gas: 107,249 MMcf versus the five-analyst average estimate of 103,083.7 MMcf.
• Average Prices - Natural gas, hedged: $0.82 per thousand cubic feet compared to the $0.88 per thousand cubic feet average estimate based on five analysts.
• Average Prices - Oil -hedged: $68.72 per barrel versus the five-analyst average estimate of $69.35 per barrel.
• Total Production Volume - Natural gas liquids: 19,615 MBBL versus 17,224.76 MBBL estimated by five analysts on average.
• Average Prices - Natural gas: $0.48 per thousand cubic feet versus the four-analyst average estimate of $0.38 per thousand cubic feet.
• Average Prices - Natural gas liquids: $19.27 per barrel compared to the $18.42 per barrel average estimate based on four analysts.
• Revenues- Oil, natural gas and natural gas liquid: $3.47 billion compared to the $3.37 billion average estimate based on four analysts. The reported number represents a change of +60.3% year over year.
• Revenues- Other operating income: $15 million versus $7.07 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +36.4% change.

View all Key Company Metrics for Diamondback here>>>

Shares of Diamondback have returned -9.9% over the past month versus the Zacks S&P 500 composite's -0.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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