Range Resources tops Q3 profit estimates and revenue view
Adjusted EPS of 81 cents topped the 78 cents consensus estimate compiled by Finnhub, and total revenues and other income of $842.83 million topped the $806.58 million estimate.
Key takeaways
- Range Resources Corporation (RRC) reported third-quarter 2026 adjusted earnings of 81 cents per diluted share, above the 78 cents consensus estimate compiled by Finnhub. Revenues and other income were $842.83 million, above the $806.58 million estimate. Net income was $175.3 million, up from $144.3 million a year earlier.
Range Resources Corporation (RRC) said on Oct. 27 in a press release furnished with a Form 8-K that its third-quarter 2026 adjusted earnings were 81 cents per diluted share, topping the 78 cents consensus estimate compiled by Finnhub.
Revenue also topped estimates. Total revenues and other income were $842.83 million, against the $806.58 million consensus estimate.
Here's how the company did:
- Adjusted EPS: 81 cents vs. 57 cents a year earlier, and 78 cents expected, according to Finnhub
- GAAP net income: $175.3 million, up from $144.3 million a year earlier
- Total revenues and other income: $842.83 million vs. $748.53 million a year earlier, and $806.58 million expected, according to Finnhub
Production and prices
Production averaged 2.50 Bcfe per day, about 68% of it natural gas. Liquids output reached a record 133,173 barrels per day, the company said.
Realized price, including hedges, was $3.43 per mcfe, a 48-cent premium to NYMEX natural gas. Pre-hedge NGL realizations were $27.54 per barrel, a premium of $1.54 over the Mont Belvieu equivalent.
Costs and cash flow
Cash flow from operating activities was $308 million. Cash flow from operations before working capital changes was $347 million.
Capital spending was $170 million, about 25% of the company's 2026 budget. Total cash unit costs were $1.91 per mcfe, unchanged from a year earlier.
GAAP results include a $58 million mark-to-market derivative gain, which the company attributed to lower commodity prices.
Balance sheet and buybacks
Net debt was about $794 million as of Sept. 30, made up of $500 million of senior notes and $294 million on the credit facility.
The company did not repurchase shares during the quarter. It had $1.4 billion of availability under its previously authorized repurchase program.
Pending EQT merger
Range will not host a conference call or webcast on the results because of its pending merger with EQT Corporation.
“We believe our pending transaction with EQT Corporation is a natural next step in our journey that will allow us to scale our business, expand our reach to meet demand and accelerate our mission,” CEO Dennis Degner said. He added that the company looks forward to completing the transaction.