Range Resources: 2Q Earnings Snapshot
Jul. 30, 2018
FORT WORTH, Texas (AP) _ Range Resources Corp. (RRC) on Monday reported a second-quarter loss of $79.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Fort Worth, Texas-based company said it had a loss of 32 cents. Earnings, adjusted for non-recurring costs, came to 20 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The independent oil and gas company posted revenue of $656.2 million in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $661.2 million.
Range Resources shares have declined 15 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 5 percent. In the final minutes of trading on Monday, shares hit $14.57, a decline of 33 percent in the last 12 months.