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Range Resources beats Street 1Q forecasts

FT WORTH, Texas (AP) _ Range Resources Corp. (RRC) on Monday reported first-quarter net income of $170.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Ft Worth, Texas-based company said it had profit of 69 cents. Earnings, adjusted for non-recurring gains, were 25 cents per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The independent oil and gas company posted revenue of $776.7 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $569.3 million.

Range Resources shares have dropped 21 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 percent. In the final minutes of trading on Monday, shares hit $27.23, a decline of 31 percent in the last 12 months.


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


Keywords: Range Resources, Earnings Report