A month has gone by since the last earnings report for Range Resources (RRC Quick QuoteRRC - Free Report) . Shares have lost about 2.7% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Range Resources due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.

RRC Q1 Earnings and Revenues Top Estimates 

Range Resources Corporation reported first-quarter 2026 adjusted earnings of $1.52 per share, which beat the Zacks Consensus Estimate of $1.33. The bottom line also improved from the prior-year level of 96 cents. 

Total quarterly revenues of $1,018.3 million topped the Zacks Consensus Estimate of $919.3 million. The top line increased from the prior-year figure of $854 million.

Strong quarterly results can be attributed to higher gas-equivalent production and increased natural gas price realization.

Operational Performance

Production averaged 2,207.4 million cubic feet equivalent per day (MMcfe/d), higher than the year-ago quarter’s 2,200.3 MMcfe/d. The figure came in lower than our projection of 2,233.7 MMcfe/d. Natural gas contributed 68% to the company’s total production, while NGLs and oil accounted for the rest. 

Natural gas production remained flat year over year. Oil production increased 75%, while NGL output declined 2% over the same time frame.

Total price realization (excluding derivative settlements and before third-party transportation costs) averaged $5.09 per Mcfe, up 27% year over year. Price realization exceeded our estimate of $4.48 per Mcfe. Natural gas price increased 43% on a year-over-year basis to $5.18 per Mcf. NGL price declined 4%, while oil price rose 4%.

Costs & Expenses

Total costs and expenses increased 3% year over year to $601 million. The reported figure topped our projection of $571.3 million. Transportation, gathering, processing and compression costs, which constitute a significant part of the total costs, increased to $323.3 million from $306.1 million in the prior-year quarter.

Capital Expenditure & Balance Sheet

Drilling and completion expenditure totaled $130 million. An additional $5 million was spent on acreage and $4 million on infrastructure and other investments.

At the end of the first quarter, Range Resources reported a total debt of $819.3 million, net of deferred financing costs.

Outlook

RRC expects the total production for 2026 to be in the range of 2.35-2.40 billion cubic feet equivalent per day (Bcfe/d), of which more than 30% is expected to come from liquid production. The company updated its capital budget for the year to be in the range of $650-$700 million.

How Have Estimates Been Moving Since Then?

It turns out, fresh estimates flatlined during the past month.

The consensus estimate has shifted -6.21% due to these changes.

VGM Scores

Currently, Range Resources has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. However, the stock has a score of B on the value side, putting it in the top 40% for value investors.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Range Resources has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.