FORT WORTH, Texas (AP) — FORT WORTH, Texas (AP) — Range Resources Corp. (RRC) on Tuesday reported first-quarter profit of $341.6 million.
On a per-share basis, the Fort Worth, Texas-based company said it had net income of $1.44. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.52 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The independent oil and gas company posted revenue of $1.03 billion in the period. Its adjusted revenue was $1.02 billion, which also topped Street forecasts. Three analysts surveyed by Zacks expected $919.3 million.
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