Range Resources Q1 2024 Adj EPS $0.69 Beats $0.57 Estimate, Sales $718.227M Beat $659.308M Estimate
Portfolio Pulse from Benzinga Newsdesk
Range Resources (NYSE:RRC) reported Q1 2024 adjusted EPS of $0.69, surpassing the $0.57 estimate, with sales of $718.227M exceeding the $659.308M forecast. This represents a 15.79% decrease in sales compared to the same period last year.
April 23, 2024 | 8:41 pm
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POSITIVE IMPACT
Range Resources reported a strong Q1 2024 performance with adjusted EPS and sales beating estimates, though sales saw a year-over-year decline.
Beating both EPS and sales estimates typically has a positive impact on investor sentiment and can lead to a short-term increase in stock price. However, the year-over-year decline in sales might temper some of the positive momentum, indicating that while the beat is a strong positive signal, investors may also weigh the sales decline in their assessment.
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