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Range Resources Swings To 1Q Loss; Adjusted Profit Tops Street

DOW JONES NEWSWIRES Range Resources Corp. (RRC) swung to a first-quarter loss on mark-to-market derivative losses and higher charges, while adjusted results topped analysts' expectations as higher production offset a decline in realized prices. The natural-gas company, which also produces lesser amounts of natural-gas liquids and crude oil, said average realized gas prices, which include hedging impacts, dropped 8% in the latest period. Last week, the company said production jumped 17% from a year ago and rose 1% from the fourth quarter. Chairman and Chief Executive John Pinkerton said despite the unusually cold weather during the quarter, the company was able to reach the midpoint of its production guidance. Pinkerton said that adjusted for the weather-related downtime, production would have exceeded the high end of Range's guidance. He added the company was "well on track" to reach its production growth target for the year. Range reported a loss of $25 million, or 16 cents a share, compared with a prior-year profit of $77.6 million, or 48 cents a share. Excluding mark-to-market impacts, stock-compensation and other impacts, adjusted earnings rose to 22 cents from 16 cents. Analysts surveyed by Thomson Reuters expected a profit of 19 cents. Total revenue and other income slid 37% to $187.6 million. Shares rose 0.5% to $53.45 in after-hours trading. The stock is up 18% this year through Tuesday's close. --By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Range Res (RRC)
DateTimeHeadline
04/24/201510:10:07Range Resources Corp. PT Raised to $70.00 at Jefferies Group...
04/22/201503:34:51Range Resources Corp. Coverage Initiated by Analysts at Nomura...
04/17/201517:02:33Statement of Changes in Beneficial Ownership (4)
04/17/201517:00:20Statement of Changes in Beneficial Ownership (4)
04/14/201505:58:20CBO GDP Estimates And Potential Debt Growth
04/13/201519:33:15Priced To Imperfection: Natural Gas Undervalued And Poised To...
04/09/201519:21:20Study finds rising radon levels in Pennsylvania homes amid fracking...
04/09/201517:14:40Statement of Changes in Beneficial Ownership (4)
04/09/201517:13:47Statement of Changes in Beneficial Ownership (4)
04/09/201517:12:29Statement of Changes in Beneficial Ownership (4)
04/09/201517:10:44Statement of Changes in Beneficial Ownership (4)
04/09/201517:08:58Statement of Changes in Beneficial Ownership (4)
04/08/201517:10:03Statement of Changes in Beneficial Ownership (4)
04/08/201517:03:20Additional Proxy Soliciting Materials (definitive) (defa14a)
04/08/201517:02:29Proxy Statement (definitive) (def 14a)
04/04/201509:00:02The Biggest Mergers and Acquisitions in Natural Gas Stocks
04/02/201509:54:06InsiderInsights.com Daily Round Up 4/1/15: OPK, RRC, MTEX, RIT
04/01/201517:04:25Statement of Changes in Beneficial Ownership (4)
04/01/201511:41:23Current Report Filing (8-k)
03/11/201507:42:26Range Resources: A Marcellus Shale, Pure-Play Valuation

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