The 10-second takeaway
For the quarter ended March 31 (Q1), Range Resources whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP loss per share improved.
Gross margins dropped, operating margins were steady, and net margins dropped.
Range Resources logged revenue of $246.9 million. The 20 analysts polled by S&P Capital IQ expected a top line of $314.8 million on the same basis. GAAP reported sales were 8.7% higher than the prior-year quarter's $227.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.15. The 19 earnings estimates compiled by S&P Capital IQ anticipated $0.17 per share on the same basis. GAAP EPS were -$0.26 for Q1 versus -$0.16 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 56.9%, 2,740 basis points worse than the prior-year quarter. Operating margin was -13.1%, about the same as the prior-year quarter. Net margin was -16.9%, 590 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $338.8 million. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $1.46 billion. The average EPS estimate is $1.04.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 561 members rating the stock outperform and 40 members rating it underperform. Among 159 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 147 give Range Resources a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Range Resources is outperform, with an average price target of $73.26.
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