FX.co ★ Range Resources Corp. Q1 Profit Decreases, but beats estimates

Range Resources Corp. (RRC) has reported a profit for its first quarter that, while lower than last year's, surpassed Wall Street projections.

The company's net income was $92.14 million, equivalent to $0.38 per share, in comparison to the $481.45 million, or $1.95 per share earned in last year's first quarter.

When excluding certain items, Range Resources Corp.'s adjusted earnings were $166.92 million, or $0.69 per share for the period.

On average, analysts had anticipated the company's earnings to be $0.57 per share, according to data compiled by Thomson Reuters. These estimates usually do not include special items.

The revenue for the company declined 45.8% in the quarter, falling to $645.37 million from $1.19 billion in the same period last year.

To provide a snapshot of Range Resources Corp.'s earnings (in GAAP terms):

- The earnings for the first quarter were $92.14 million, a decrease from $481.45 million last year.

- The earnings per share (EPS) for the first quarter stood at $0.38, lesser than last year’s $1.95.

- The revenue for the first quarter was $645.37 million, compared to last year's $1.19 billion.