FORT WORTH, Texas (AP) _ Range Resources Corp. (RRC) on Wednesday reported a third-quarter loss of $27.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Fort Worth, Texas-based company said it had a loss of 11 cents. Losses, adjusted for one-time gains and costs, came to 7 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The independent oil and gas company posted revenue of $622.4 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $599.4 million.
In the final minutes of trading on Wednesday, the company's shares hit $3.83. A year ago, they were trading at $16.47.