The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Range Resources missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Range Resources recorded revenue of $337.0 million. The 22 analysts polled by S&P Capital IQ predicted sales of $351.1 million on the same basis. GAAP reported sales were 8.1% higher than the prior-year quarter's $272.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.20. The 31 earnings estimates compiled by S&P Capital IQ predicted $0.18 per share. GAAP EPS were -$0.34 for Q3 against $0.21 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 69.5%, 1,690 basis points worse than the prior-year quarter. Operating margin was -12.8%, 4,590 basis points worse than the prior-year quarter. Net margin was -18.3%, 3,100 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $385.2 million. On the bottom line, the average EPS estimate is $0.25.
Next year's average estimate for revenue is $1.38 billion. The average EPS estimate is $0.64.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 547 members out of 596 rating the stock outperform, and 49 members rating it underperform. Among 160 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 140 give Range Resources a green thumbs-up, and 20 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 $73.47.
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