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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 2.48B | 11.5% |
| Gross Profit | 2.44B | 11.9% |
| Cost of Revenue | 46M | 6.1% |
| Operating expense | 65M | 3.2% |
| Net Income | 837M | 9% |
| EBITDA | 1.64B | 2.7% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 35.6B | 20% |
| Total Liabilities | 17.1B | 46.6% |
| Total Equity | 17.4B | 2.9% |
| Shares Outstanding | 178M | 0% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 1.53B | 14.6% |
| Cash from investing | -449M | 40.2% |
| Cash from financing | 4.93B | 1933.5% |
EPS
Financial Highlights for Diamondback Energy in Q2 '24
Diamondback Energy reported a revenue of 2.48B, which is a 11.5% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 2.44B, marking a 11.9% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 46M, a -6.1% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 65M, showing a 3.2% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 837M, showing a 9% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 1.64B, showing a 2.7% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Diamondback Energy with growth in revenue, gross profit, and net income. Higher operating expenses might indicate increased investments or potential inefficiencies.
