Range Resources: 2Q Earnings Snapshot
FORT WORTH, Texas (AP) _ Range Resources Corp. (RRC) on Thursday reported second-quarter net income of $115.2 million, after reporting a loss in the same period a year earlier.
The Fort Worth, Texas-based company said it had profit of 46 cents per share. Earnings, adjusted for non-recurring gains, were 2 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The independent oil and gas company posted revenue of $851.4 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $649.3 million.
Range Resources shares have fallen 46% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. In the final minutes of trading on Thursday, shares hit $5.13, a decrease of 68% in the last 12 months.