• February 25, 2021

Range Resources: 4Q Earnings Snapshot - Odessa American: State

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Range Resources: 4Q Earnings Snapshot

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Posted: Tuesday, February 23, 2021 6:26 pm | Updated: 6:46 pm, Tue Feb 23, 2021.

FORT WORTH, Texas (AP) — Range Resources Corp. (RRC) on Tuesday reported fourth-quarter net income of $38.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Fort Worth, Texas-based company said it had net income of 15 cents. Earnings, adjusted for non-recurring gains, came to 2 cents per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The independent oil and gas company posted revenue of $598.9 million in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $510.2 million.

For the year, the company reported that its loss narrowed to $711.8 million, or $2.95 per share. Revenue was reported as $1.97 billion.

Range Resources shares have risen 56% since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 3%. In the final minutes of trading on Tuesday, shares hit $10.43, more than tripling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RRC at https://www.zacks.com/ap/RRC

© 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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