Range Resources Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Range Resources Corp. (RRC) announced a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $92.14 million, or $0.38 per share. This compares with $481.45 million, or $1.95 per share, in last year's first quarter.

Excluding items, Range Resources Corp. reported adjusted earnings of $166.92 million or $0.69 per share for the period.

Analysts on average had expected the company to earn $0.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 45.8% to $645.37 million from $1.19 billion last year.

Range Resources Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $92.14 Mln. vs. $481.45 Mln. last year. -EPS (Q1): $0.38 vs. $1.95 last year. -Revenue (Q1): $645.37 Mln vs. $1.19 Bln last year.