Natural gas producer Range Resources (NYSE: RRC) will be announcing earnings results tomorrow afternoon. Here’s what to expect.
Range Resources beat analysts’ revenue expectations last quarter, reporting revenues of $961.1 million, up 20.6% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates. It reported year-on-year oil production per day growth of 75.1%.
Is Range Resources a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Range Resources’s revenue to grow 3.6% year on year, slowing from the 15% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Range Resources rarely misses Wall Street’s revenue estimates.
With Range Resources being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for upstream & integrated stocks. However, there has been positive investor sentiment in the segment, with share prices up 2.1% on average over the last month. Range Resources’s stock price was unchanged during the same time .
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