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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 2.65B | 6.5% |
| Gross Profit | 2.6B | 6.5% |
| Cost of Revenue | 49M | 6.5% |
| Operating expense | 84M | 29.2% |
| Net Income | 659M | 21.3% |
| EBITDA | 1.59B | 3% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 65.7B | 84.5% |
| Total Liabilities | 26.9B | 57.4% |
| Total Equity | 37.4B | 114.5% |
| Shares Outstanding | 293M | 64.1% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | 1.21B | 20.9% |
| Cash from investing | -8.17B | 1718.7% |
| Cash from financing | 419M | 91.5% |
EPS
Financial Highlights for Diamondback Energy in Q3 '24
Diamondback Energy reported a revenue of 2.65B, which is a 6.5% 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 2.6B, marking a 6.5% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 49M, a 6.5% 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 84M, showing a 29.2% 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 659M, showing a -21.3% 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 1.59B, showing a -3% 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.
Diamondback Energy faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. Higher operating expenses might indicate increased investments or potential inefficiencies. A decline in EBITDA signals potential operational challenges or increased costs.
