Range Resources: 3Q Earnings Snapshot
FORT WORTH, Texas (AP) _ Range Resources Corp. (RRC) on Thursday reported a loss of $680 million in its third quarter.
The Fort Worth, Texas-based company said it had a loss of $2.83 per share. Losses, adjusted for non-recurring costs, were 5 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The independent oil and gas company posted revenue of $299.3 million in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $479.7 million.
Range Resources shares have climbed 60% since the beginning of the year, while the Standard & Poor’s 500 index has risen 2.5%. In the final minutes of trading on Thursday, shares hit $7.78, a rise of 74% in the last 12 months.