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Range Resources (RRC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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Range Resources (RRC - Free Report) reported $853 million in revenue for the quarter ended March 2023, representing a year-over-year decline of 13.6%. EPS of $0.99 for the same period compares to $1.18 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $783.21 million, representing a surprise of +8.91%. The company delivered an EPS surprise of +26.92%, with the consensus EPS estimate being $0.78.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Range Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net production per day - Natural gas: 1484.96 Mcf/D compared to the 1473.03 Mcf/D average estimate based on seven analysts.
Net production per day - Oil: 6367 MBBL/D versus 6885.82 MBBL/D estimated by seven analysts on average.
Net production per day - NGLs: 103.22 MBBL/D versus the seven-analyst average estimate of 100.95 MBBL/D.
Average realized prices after hedges - Oil: $62.96 versus $58.47 estimated by six analysts on average.
Average realized prices after hedges - Natural gas: $3.58 compared to the $3.18 average estimate based on six analysts.
Average realized prices after hedges - NGL: $27.60 compared to the $25.51 average estimate based on six analysts.
Net production per day - Natural Gas Equivalent: 2142.48 Mcfe/D versus the five-analyst average estimate of 2118 Mcfe/D.
Realized prices before NYMEX hedges - NGL: $27.60 compared to the $26.82 average estimate based on four analysts.
Realized prices before NYMEX hedges - Natural gas: $3.32 versus $3 estimated by four analysts on average.
Realized prices before NYMEX hedges - Oil: $66.77 compared to the $66.21 average estimate based on four analysts.
Revenues- Brokered natural gas and marketing and other: $77.42 million versus the three-analyst average estimate of $106.69 million. The reported number represents a year-over-year change of -11.5%.
Revenues- Natural gas, NGL and oil sales: $736.28 million versus $678.94 million estimated by three analysts on average.
Shares of Range Resources have returned +4.2% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Range Resources (RRC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Range Resources (RRC - Free Report) reported $853 million in revenue for the quarter ended March 2023, representing a year-over-year decline of 13.6%. EPS of $0.99 for the same period compares to $1.18 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $783.21 million, representing a surprise of +8.91%. The company delivered an EPS surprise of +26.92%, with the consensus EPS estimate being $0.78.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Range Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net production per day - Natural gas: 1484.96 Mcf/D compared to the 1473.03 Mcf/D average estimate based on seven analysts.
- Net production per day - Oil: 6367 MBBL/D versus 6885.82 MBBL/D estimated by seven analysts on average.
- Net production per day - NGLs: 103.22 MBBL/D versus the seven-analyst average estimate of 100.95 MBBL/D.
- Average realized prices after hedges - Oil: $62.96 versus $58.47 estimated by six analysts on average.
- Average realized prices after hedges - Natural gas: $3.58 compared to the $3.18 average estimate based on six analysts.
- Average realized prices after hedges - NGL: $27.60 compared to the $25.51 average estimate based on six analysts.
- Net production per day - Natural Gas Equivalent: 2142.48 Mcfe/D versus the five-analyst average estimate of 2118 Mcfe/D.
- Realized prices before NYMEX hedges - NGL: $27.60 compared to the $26.82 average estimate based on four analysts.
- Realized prices before NYMEX hedges - Natural gas: $3.32 versus $3 estimated by four analysts on average.
- Realized prices before NYMEX hedges - Oil: $66.77 compared to the $66.21 average estimate based on four analysts.
- Revenues- Brokered natural gas and marketing and other: $77.42 million versus the three-analyst average estimate of $106.69 million. The reported number represents a year-over-year change of -11.5%.
- Revenues- Natural gas, NGL and oil sales: $736.28 million versus $678.94 million estimated by three analysts on average.
View all Key Company Metrics for Range Resources here>>>Shares of Range Resources have returned +4.2% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.