Diamondback Energy's Financials Show Mixed Results

By Bobby Samwell • Monday, April 08 15:27 • Permanent Link

Endeavor Parent, LLC, a Texas limited liability company, has released its consolidated financial statements for the years ended December 31, 2023, 2022, and 2021. The following key facts and figures have been extracted from the press release:

Consolidated Balance Sheets:
Total current assets decreased from $2,243 million in 2022 to $1,633 million in 2023.
Property and equipment increased significantly from $9,459 million in 2022 to $11,200 million in 2023.
Consolidated Statements of Operations and Comprehensive Income:
Operating revenues decreased from $7,009 million in 2022 to $6,187 million in 2023.
Income from operations decreased from $5,272 million in 2022 to $3,953 million in 2023.
Net income decreased from $4,755 million in 2022 to $3,984 million in 2023.
Total comprehensive income decreased from $4,754 million in 2022 to $3,998 million in 2023.
Consolidated Statements of Members' Equity:
Members' equity increased from $7,032 million in 2022 to $8,494 million in 2023.
Accumulated other comprehensive income (loss) improved from ($1 million) in 2022 to $13 million in 2023.
Consolidated Statements of Cash Flows:
Net cash provided by operating activities decreased from $5,252 million in 2022 to $4,989 million in 2023.

These figures indicate a mixed financial performance for Endeavor Parent, LLC, with decreases in certain key metrics such as operating revenues, income from operations, net income, and comprehensive income, offset by increases in members' equity and total assets. Following these announcements, the company's shares moved 1.7%, and are now trading at a price of $207.85. Check out the company's full 8-K submission here.

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