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CM - At $846MM, Diamondback earnings highest since formed - March 2019



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In what CEO Travis Stice called a “another transformational year” for his company, Diamondback Energy Inc. reported net income of $846 million—its highest since its 2007 formation—on record revenue of $2.2 billion. Though cash flow from operations came in 78% higher YOY at $1.56 billion, spending was well over double that amount at almost $3.5 billion as the company bought Energen Corp. during 4Q18 and other assets. The net result of the spending was 123% YOY growth of its assets, which now......
 
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