FANG · 10-Q · 2026Q2 · Full report

Operating Income and Margins

Diamondback Energy, Inc. · 2026-08-05 · Importance 69 · Surprise 64 · In source text

Second-quarter 2026 income from operations increased to $2.512 billion from $1.139 billion in the prior-year quarter. The operating margin expanded to approximately 45.2% from 31.0%, primarily reflecting the 51.2% increase in revenue versus a 20.1% increase in total costs and expenses. Six-month income from operations declined to $2.628 billion from $2.812 billion, and the operating margin decreased to approximately 26.8% from 36.4%. The six-month comparison included a $1.4 billion impairment charge on oil and natural gas properties in 2026, while no impairment expense was recorded in 2025.

Key facts

• Income from operations, three months ended June 30, 2026: $2,512 million source
• Income from operations, six months ended June 30, 2026: $2,628 million source
• Net income (loss) shown as $2,055 million in the condensed consolidated statements of operations (period column shown) source
• Net income attributable to Diamondback Energy, Inc.: $1,882 million (period shown) source
• Depletion of proved oil and natural gas properties for the three months ended June 30, 2026: $1,242 million (compared to $1,267 million in the prior quarter). source
• Depreciation, depletion, amortization and accretion for the three months ended June 30, 2026: $1,272 million (compared to $1,293 million in the prior quarter). source
• Depreciation, depletion, amortization and accretion for the six months ended June 30, 2026: $2,565 million (compared to $2,363 million in the six months ended June 30, 2025). source
• Depletion of proved oil and natural gas properties for the six months ended June 30, 2026: $2,509 million (compared to $2,295 million in the same period in 2025). source

Impact estimates