RRC Beats on Q3 Earnings & Revenues, Ups '24 Production View

Zacks10-23

Range Resources Corporation RRC reported third-quarter 2024 adjusted earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 35 cents. The bottom line also improved from the prior-...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2477534239?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/ODR4OFQ6es2DXtmcU.DLWA--~B/aD0zNzI7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/d769244826e4f3d020ba08280de24d8a","is_english":true,"pubTime":"2024-10-23 21:40","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2477534239","market":"us","top_or_hot":-1,"title":"RRC Beats on Q3 Earnings & Revenues, Ups '24 Production View","media":"Zacks","content":"<div>\n<p>Range Resources Corporation RRC reported third-quarter 2024 adjusted earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 35 cents. The bottom line also improved from the prior-...</p>\n\n<a href=\"https://finance.yahoo.com/news/rrc-beats-q3-earnings-revenues-134000195.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>RRC Beats on Q3 Earnings & Revenues, Ups '24 Production View</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRRC Beats on Q3 Earnings & Revenues, Ups '24 Production View\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-23 21:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/rrc-beats-q3-earnings-revenues-134000195.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Range Resources Corporation RRC reported third-quarter 2024 adjusted earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 35 cents. The bottom line also improved from the prior-...</p>\n\n<a href=\"https://finance.yahoo.com/news/rrc-beats-q3-earnings-revenues-134000195.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AROC","symbol_name":"Archrock, Inc","start_time":0,"source_url":"https://finance.yahoo.com/news/rrc-beats-q3-earnings-revenues-134000195.html","article_id":"2477534239","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ODR4OFQ6es2DXtmcU.DLWA--~B/aD0zNzI7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/d769244826e4f3d020ba08280de24d8a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477534239","pubTimestamp":1729690800,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Range Resources CorporationRRC reported third-quarter 2024 adjusted earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 35 cents. The bottom line also improved from the prior-year level of 46 cents.Total quarterly revenues of $680 million beat the Zacks Consensus Estimate of $627 million. The top line also increased from the prior-year figure of $649 million.The strong quarterly results can be primarily attributed to higher gas equivalent production volumes.Range Resources Corporation Price, Consensus and EPS Surprise. Range Resources Corporation price-consensus-eps-surprise-chart | Range Resources Corporation Quote. Natural gas production increased 4% year over year. Oil production decreased 12%, while NGL output increased 5% in the same time frame.PEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. PED stands to benefit significantly from its holdings in the Permian Basin, one of the most prolif","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"AROC":"Archrock, Inc","RRC":"山脉资源","PED":"Pedevco Corp.","FCEL":"燃料电池能源"},"translate_title":"RRC第三季度盈利和收入超出预期，UPS 24年生产展望","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RRC":1,"AROC":0.9,"FCEL":0.9,"PED":0.9},"content_text":"Range Resources Corporation RRC reported third-quarter 2024 adjusted earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 35 cents. The bottom line also improved from the prior-year level of 46 cents. \nTotal quarterly revenues of $680 million beat the Zacks Consensus Estimate of $627 million. The top line also increased from the prior-year figure of $649 million.\nThe strong quarterly results can be primarily attributed to higher gas equivalent production volumes.\n\nRange Resources Corporation Price, Consensus and EPS Surprise\n  \nRange Resources Corporation price-consensus-eps-surprise-chart | Range Resources Corporation Quote\n\nOperational Performance\nThe company’s production averaged 2,204.5 million cubic feet equivalent per day (Mcfe/d), higher than the prior-year level of 2,123 Mcfe/d. The figure was also above our projection of 2,118.3 Mcfe/d. Natural gas contributed approximately 68% to the company’s total production, while NGLs and oil accounted for the rest. \nNatural gas production increased 4% year over year. Oil production decreased 12%, while NGL output increased 5% in the same time frame.\nTotal price realization (excluding derivative settlements and before third-party transportation costs) averaged $2.63 per Mcfe, down 3% year over year. Notably, price realization was higher than our estimate of $2.59 per Mcfe. Natural gas price declined 9% on a year-over-year basis to $1.69 per Mcf. NGL price increased 6%, while oil price fell 9%.\nCosts & Expenses\nTotal costs and expenses increased 1% year over year to $549 million. The reported figure was higher than our expectation of $528.2 million. Transportation, gathering, processing and compression costs, which form a major part of the total costs, increased to $306.2 million from $277.2 million in the prior-year quarter.\nCapital Expenditure & Balance Sheet\nThe company’s drilling and completion expenditure amounted to $146 million in the reported quarter. Additionally, $10 million was used for acreage leasehold, gathering systems and other expenses.\nRRC had a total debt of $1,706.5 million at the end of the reported quarter.\nOutlook\nRange Resources has increased its total production guidance for 2024 to 2.17 billion cubic feet equivalent per day, with more than 30% attributed to liquids production. It has also estimated a capital budget of $645-$670 million for the year.\nRRC’s Zacks Rank and Key Picks\nCurrently, RRC carries a Zacks Rank #4 (Sell).\nSome better-ranked stocks in the energy sector are PEDEVCO Corp. PED, Archrock Inc. AROC and FuelCell Energy FCEL. PEDEVCO and Archrock presently sport a Zacks Rank #1 (Strong Buy) each, while FuelCell Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nPEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. PED stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States and the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations. Combined with bullish oil prices, this is expected to boost the company's production and overall profitability.\nArchrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.\nFuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, it is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nRange Resources Corporation (RRC) : Free Stock Analysis Report\nFuelCell Energy, Inc. (FCEL) : Free Stock Analysis Report\nPedevco Corp. (PED) : Free Stock Analysis Report\nArchrock, Inc. (AROC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2477534239"}