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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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Motley Fool newsletter services have recommended buying shares of Range Resources. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.