Current Report · Items 2.02, 9.01 · 8-K

Diamondback Energy, Inc.

FANGNASDAQEQUITYCurrent

Results of Operations and Financial Condition

Filed May 4, 2026Accepted May 4, 2026, 4:06 PM EDTCIK 1539838Accession 0001539838-26-000073

Company context

Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

Current securities

FANGNASDAQ · EQUITY · Current

Recent company filings

Disclosure sections

Items 2.02, 9.01

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Item 2.02Item 2.02 - Results of Operations

Item 2.02. Results of Operations and Financial Condition. On May 4, 2026, Diamondback Energy, Inc. (the “Company”) issued a press release announcing financial and operating results for the first quarter ended March 31, 2026, including the first quarter 2026 base cash dividend and an increase in the annual base dividend and production guidance (the “earnings release”). A copy of the earnings release is furnished to the Securities and Exchange Commission (the “SEC”) as Exhibit 99.1 to this Current Report on Form 8-K. The Company also issued a letter to its stockholders as a supplement to the earnings release, which is furnished to the SEC as Exhibit 99.2 to this Current Report on Form 8-K.

Filed exhibits (2)

EX-99.1 (by filename) diamondbackex991-5x4x26.htm

EX-99.1 2 diamondbackex991-5x4x26.htm EX-99.1 Document Exhibit 99.1 DIAMONDBACK ENERGY, INC. ANNOUNCES FIRST QUARTER 2026 FINANCIAL AND OPERATING RESULTS; INCREASES BASE DIVIDEND AND PRODUCTION GUIDANCE Midland, TX (May 4, 2026) - Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback,” “we,” “our” or the “Company”) today announced financial and operating results for the first quarter ended March 31, 2026. FIRST QUARTER 2026 HIGHLIGHTS • Average oil production of 521.0 MBO/d (979.4 MBOE/d) • Net cash provided by operating activities of $1.8 billion; Operating Cash Flow Before Working Capital Changes1 of $2.6 billion • Cash capital expenditures of $933 million • Free Cash Flow1 of $1.7 billion; Adjusted Free Cash Flow1 of $1.7 billion • Repurchased 3.3 million shares of common stock for approximately $548 million • Raised Q1 2026 base cash dividend to $1.10 per share; marks a 10% year-over-year increase and an implied 2.1% annualized yield2 • Total return of capital of $859 million from stock repurchases and the declared Q1 2026 base dividend; represents ~50% of Adjusted Free Cash Flow UPDATED 2026 GUIDANCE HIGHLIGHTS • Increasing annual oil production guidance to 52…

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EX-99.2 (by filename) diamondbackex992-5x4x26.htm

EX-99.2 3 diamondbackex992-5x4x26.htm EX-99.2 Document Exhibit 99.2 LETTER TO STOCKHOLDERS ISSUED BY DIAMONDBACK ENERGY, INC. Midland, TX (May 4, 2026) Diamondback Stockholders, This letter is meant to be a supplement to our earnings release and is being furnished to the Securities and Exchange Commission (SEC) and released to our stockholders simultaneously with our earnings release. Please see the information regarding forward-looking statements and non-GAAP financial information included at the end of this letter. Macro Update and Activity Plan Over the last year, we have spent more time than ever discussing the macroeconomic environment with our stakeholders - a trend we do not expect to change any time soon. Since our last stockholder letter just 70 days ago, the oil market has completely flipped from a projected supply-demand surplus to a historic global deficit. We do not believe it is our job to comment on geopolitical events and will therefore focus on the fundamental analysis and how that fundamental analysis is shaping our capital allocation decisions during these volatile times. Last quarter we closed our macro update with the following sentence: “Therefore…

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