Range Resources Earnings: Revenue Streak Snapped
S&P 500 (NYSE:SPY) component Range Resources Corporation (NYSE:RRC) swung to a loss in the first quarter, missing analysts’ forecasts. Range Resources Corporation is an independent natural gas company that primarily explores and develops gas properties in the Southwestern and Appalachian regions of the U.S.
Range Resources Earnings Cheat Sheet for the First Quarter
Results: Swung to a loss of $25 million (loss of 16 cents/diluted share) in the quarter. The independent oil and gas company had net income of $77.6 million or 48 cents per share in the year earlier quarter.
Revenue: Fell 21.5% to $187.6 million YoY.
A year-over-year revenue decrease last quarter snaps a streak of four consecutive quarters of revenue increases. The best quarter in that span was the first quarter of the last fiscal year, which saw revenue rise 17.8%.
Competitors to Watch: Vanguard Natural Resources, LLC (NYSE:VNR), EV Energy Partners, L.P. (NASDAQ:EVEP), Chesapeake Energy Corp. (NYSE:CHK), NGAS Resources, Inc. (NASDAQ:NGAS), Atlas Energy, Inc. (NASDAQ:ATLS), New Concept Energy, Inc. (AMEX:GBR), Rex Energy Corporation (NASDAQ:REXX), BreitBurn Energy Partners L.P. (NASDAQ:BBEP), EQT Corporation (NYSE:EQT), and Anadarko Petroleum Corp. (NYSE:APC).
Today’s Performance: Shares of RRC are up 0.45% in after hours trading.