Range Resources Corporation (RRC) Earnings
Range Resources Corporation is expected to report next earnings on July 28, 2026 (in NaN days), with a consensus EPS estimate of $0.73. RRC has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +12.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $1.33 | $1.52 | +14.3% | $1.0B | +11.8% |
| Feb 25, 2026 | $0.68 | $0.82 | +20.6% | $4.7B | +421.9% |
| Jul 22, 2025 | $0.61 | $0.66 | +8.2% | $700M | -1.6% |
| Apr 22, 2025 | $0.92 | $0.96 | +4.8% | $846M | +6.3% |
| Feb 25, 2025 | $0.55 | $0.68 | +23.6% | $667M | -1.4% |
| Oct 22, 2024 | $0.35 | $0.48 | +37.1% | $568M | -18.3% |
| Jul 23, 2024 | $0.42 | $0.46 | +9.9% | $513M | -16.0% |
| Feb 21, 2024 | $0.46 | $0.63 | +37.0% | $650M | -3.2% |
| Jul 24, 2023 | $0.21 | $0.30 | +42.9% | $513M | -8.7% |
| Feb 27, 2023 | $1.12 | $1.30 | +16.1% | $1.2B | +26.5% |
| Jul 25, 2022 | $1.26 | $1.27 | +0.8% | $1.5B | +54.7% |
| Feb 22, 2022 | $0.98 | $0.96 | -2.0% | $1.3B | +43.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 22, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Range had strong start in 2026 with free cash flow of ~$400 million in Q1. • Production expected to increase mid-year with gas processing and infrastructure coming online. • Operational efficiency shown with single rig drilling ~143,000 lateral feet in Q1 and completions team setting program record. • Winter operations program successful keeping production flowing. • Marketing team captured strong natural gas and NGL pricing opportunities. • Service costs: electric fracturing fleet cost unchanged, steel market prices somewhat insulated, fuel pricing elevated but capital plans unchanged.
Guidance
• Production expected to increase slightly in Q2, jump mid-year to 2.5 BC equivalent per day by year end. • Second and third quarters expected to be high point for capital with second completion crew added. • Full year 2026 NGL differential guidance revised to a premium of $1.25 to $2.50 per barrel over Mont Bellevue.
Segment performance
Production in Q1 was 2.2 BCF equivalent per day. Expected production to increase slightly in Q2 and jump meaningfully higher mid-year to 2.5 BC of equivalent per day by year end. Capital for Q1 was $139 million with completion spending stepping up in Q2. Natural gas had strong realized pricing in Q1 with a $0.18 premium to Henry Hub for the quarter. NGLs had a $4.41 premium to Mont Bellevue index in Q1, and full year 2026 NGL differential guidance revised to a premium of $1.25 to $2.50 per barrel over Mont Bellevue.
Analyst Q&A
Q: Jake Roberts asked about percentage/volume of propane/butane in different markets and Fort Cherry update.
A: Roughly 80% of propane exported out of East Coast, majority linked to medium-term contracts with ARA and FEI, no specific contract terms disclosed; update on Fort Cherry with ongoing dialogue and multiple similar projects.
Q: Gabe Dowd asked about production trajectory post Harmon Creek entering service and LPG macro.
A: Production character similar to past, mid-year commissioning of infrastructure, back half of 2026 production ramp; export capacity expansion, stock levels elevated but export capacity added, future demand and capacity coming online.
Q: Neometa asked about NGL differential drivers and upward bias.
A: NGL differential in Q1 driven by high gas prices, domestic demand, and international export; forward view with seasonality and international market dynamics.
Q: Paul Diamond asked about OPEX and production split reactivity.
A: Rule of thumb for OPEX per dollar move in gas and NGL holds, production split similar to past with focus on liquids-rich activity; completion crew efficiency affecting capital.
Q: Kalei Eichelman asked about NGL market connectivity and growth program product split.
A: NGL market different due to global crisis and export capacity build-out; volumes similar to past with medium and short-term contract structures, ethane extraction adjusted based on price signals.
Q: Philip Youngworth asked about capital returns and NGL premium calculation.
A: Range could go to net cash position in strong commodity windows, NGL premium guidance takes into account forward strip in various markets with complexities but conservative approach