uploads///RRC Q Post EPS

Range Resources’ 2Q16 Earnings Are Better Than Expected


Dec. 4 2020, Updated 10:52 a.m. ET

Range Resources beats 2Q16 EPS estimates

Range Resources (RRC) announced its 2Q16 earnings on July 26, 2016, after the Market closed. It reported an adjusted loss of $0.14 per share, which was $0.05 better than Wall Street analysts’ consensus for a loss of $0.19 per share.

RRC’s 2Q16 EPS (earnings per share) is lower by $0.15 per share when compared to 2Q15’s profit of $0.01 per share. But when compared sequentially with 1Q16, RRC’s 2Q16 EPS is higher by $0.41 per share.

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Range Resources’ 2Q16 revenues beat estimates

For 2Q16, RRC reported adjusted revenues of ~$363 million. That’s ~11% better than Wall Street analysts’ consensus of ~$328 million. Its 2Q16 revenues are higher by ~47% when compared with 2Q15 revenues of ~$248 million. Even when compared sequentially with 1Q16, RRC’s 2Q16 revenues are higher by ~9%.

Range Resources’ earnings trend

As you can see in the above graph, Range Resources reported much lower EPS than 2Q15 due to lower realized natural gas (UNG) prices. In 1Q16, RRC saw its adjusted earnings turn negative for the first time since 1999.

Since 2013, RRC has beaten earnings expectations ~64% of the time.

Since 2013, other upstream players such as ConocoPhillips (COP), Marathon Oil (MRO), and EOG Resources (EOG) have beaten earnings expectations ~64%, ~54%, and ~92% of the time, respectively.

In this series

We’ve analyzed Range Resources’ 2Q16 earnings and revenue performance. In the rest of the series, we’ll look at Range Resources’ 2Q16 cash flow, operational performance, analyst ratings, and price forecasts using implied volatility. We’ll also see how Range Resources’ stock price has reacted to past earnings beats.

Next, let’s take a look at how much cash Range Resources generated in 2Q16.


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