Range Resources Q4 EPS $0.63 Beats $0.48 Estimate, Sales $715.31M Beat $699.60M Estimate
Portfolio Pulse from Happy Mohamed
Range Resources (NYSE:RRC) reported Q4 earnings of $0.63 per share, surpassing the $0.48 estimate, a 31.25% beat. Sales reached $715.31M, exceeding the $699.60M estimate by 2.25%. However, both earnings and sales saw a decrease from the previous year, with earnings down 51.54% and sales down 28.29%.
February 21, 2024 | 9:19 pm
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POSITIVE IMPACT
Range Resources reported higher-than-expected Q4 earnings and sales, but both metrics decreased from the previous year.
The positive earnings and sales beat are likely to have a short-term positive impact on RRC's stock price, as beating analyst estimates typically boosts investor confidence. However, the year-over-year decline in both earnings and sales might temper the positive impact, as it indicates a decrease in profitability and revenue compared to the previous year.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100