04:23 PM EDT, 08/04/2025 (MT Newswires) -- Diamondback Energy ( FANG ) reported Q2 adjusted earnings late Monday of $2.67 per diluted share, down from $4.52 a year earlier.

Analysts surveyed by FactSet expected $2.77.

Revenue for the quarter ended June 30 was $3.68 billion, up from $2.48 billion a year earlier.

Analysts polled by FactSet expected $3.35 billion.

The company adjusted its 2025 net production guidance to 890 to 910 million barrels of oil equivalent per day from 857 to 900 MBOE/d earlier. Analysts expect 884.7 MBOE/d.

The company maintained its quarterly dividend at $1 per share, payable Aug. 21 to holders of record Aug. 14.

The company also approved an incremental $2 billion increase to its share buyback authorization, lifting total repurchase approval to $8 billion.

Shares were down 2% during after-hours trading.