Compared to Estimates, Range Resources (RRC) Q4 Earnings: A Look at Key Metrics
For the quarter ended December 2023, Range Resources (RRC) reported revenue of $715.31 million, down 28.3% over the same period last year. EPS came in at $0.63, compared to $1.30 in the year-ago quarter.
The reported revenue represents a surprise of +5.59% over the Zacks Consensus Estimate of $677.44 million. With the consensus EPS estimate being $0.46, the EPS surprise was +36.96%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Range Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net production per day - NGL: 104.04 millions of barrels of oil versus 105.21 millions of barrels of oil estimated by nine analysts on average.
Net production per day - Oil: 7136 millions of barrels of oil versus 7025.46 millions of barrels of oil estimated by nine analysts on average.
Net production per day - Natural gas: 1,540.4 Mcf/D versus the nine-analyst average estimate of 1,524.74 Mcf/D.
Average realized prices after hedges - Natural gas: $2.68 compared to the $2.69 average estimate based on eight analysts.
Net production per day - Natural Gas equivalent: 2,207.45 Mcfe/D compared to the 2,196.74 Mcfe/D average estimate based on seven analysts.
Average realized prices after hedges - NGLs: $24.91 compared to the $23.77 average estimate based on seven analysts.
Average realized prices after hedges - Oil: $63.42 versus the six-analyst average estimate of $63.61.
Realized prices before NYMEX hedges - Natural gas: $2.40 versus the five-analyst average estimate of $2.39.
Realized prices before NYMEX hedges - Oil: $67.72 versus the five-analyst average estimate of $67.89.
Revenues- Total oil and gas sales, as reported: $603.28 million versus $614.03 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -44.5% change.
Revenues- Brokered natural gas and marketing and other, as reported: $44.46 million versus the three-analyst average estimate of $58.37 million. The reported number represents a year-over-year change of -52.4%.
Revenues- Natural gas, NGL and oil sales components- Natural gas sales: $320.39 million versus the two-analyst average estimate of $327.09 million. The reported number represents a year-over-year change of -58.4%.
View all Key Company Metrics for Range Resources here>>>
Shares of Range Resources have returned +3.8% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Range Resources Corporation (RRC) : Free Stock Analysis Report
