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Wednesday, January 20, 2021

Range Resources reports 4th quarter loss

FORT WORTH, Texas (AP) _ Range Resources Corp. (RRC) on Thursday reported a loss of $1.81 billion in its fourth quarter.

The Fort Worth, Texas-based company said it had a loss of $7.27 per share. Earnings, adjusted for non-recurring costs, came to 8 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The independent oil and gas company posted revenue of $605.6 million in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $639.4 million.

For the year, the company reported that its loss narrowed to $1.72 billion, or $6.92 per share. Revenue was reported as $2.83 billion.

In the final minutes of trading on Thursday, the company’s shares hit $2.75. A year ago, they were trading at $10.36.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RRC at https://www.zacks.com/ap/RRC

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