Diamondback Energy Misses Q1 Forecasts As Oil Prices Slide

Diamondback Energy (NASDAQ: FANG) booked lower-than-expected revenues and earnings for the first quarter on the back of lower commodity prices. The U.S. shale producer reported adjusted net income of $751 million, or $4.10 per diluted share, for the first quarter, below the Zacks consensus estimate of $4.

36 per share earnings.   For the first quarter of last year, Diamondback booked an adjusted net income of $929 million, or $5.20 per diluted share. Revenues for Q1 2023 slid to $1.9 billion, from $2.4 billion for the same period a year ago,…