Range Resources

RRC Q1 2026 Earnings

Reported Apr 22, 2026 at 11:00 AM ET · SEC Source

Q1 26 EPS

$1.52

BEAT +19.75%

Est. $1.27

Q1 26 Revenue

$1.03B

BEAT +11.94%

Est. $923.9M

vs S&P Since Q1 26

-20.9%

TRAILING MARKET

RRC -17.4% vs S&P +3.5%

Market Reaction

Did RRC Beat Earnings? Q1 2026 Results

Range Resources delivered a standout first quarter of 2026, posting adjusted earnings of $1.52 per diluted share to beat the $1.27 consensus estimate by 19.75%, while revenue climbed to $1.03 billion, a 22.2% year-over-year gain that cleared Wall Str… Read more Range Resources delivered a standout first quarter of 2026, posting adjusted earnings of $1.52 per diluted share to beat the $1.27 consensus estimate by 19.75%, while revenue climbed to $1.03 billion, a 22.2% year-over-year gain that cleared Wall Street's $923.88 million forecast by nearly 12%. The headline driver was a decisive marketing advantage on both natural gas and liquids, with the company realizing its highest natural gas premium to NYMEX in over a decade and a record quarterly NGL premium of $4.41 per barrel above Mont Belvieu equivalent, contributions that helped push total product sales to $1.01 billion, up 28% from a year ago. GAAP net income reached $341.63 million, compared to $97.05 million in Q1 2025, while cash flow from operations nearly doubled to $619.14 million, enabling net debt to fall 32% from year-end to roughly $834 million. Looking ahead, Range raised its NGL price guidance to Mont Belvieu plus $1.25 to $2.50 per barrel, a revision expected to add approximately $160 million in full-year cash flow, even as production and capital guidance remain unchanged at 2.35 to 2.40 Bcfe per day and $650 to $700 million, respectively.

Key Takeaways

  • Highest natural gas premium in over a decade at $0.18/mcf premium to NYMEX including basis hedging
  • Record quarterly NGL premium of $4.41/bbl above Mont Belvieu equivalent
  • Natural gas price realizations of $5.15/mcf before hedges, up 43% year-over-year
  • Oil production increased 75% year-over-year
  • Interest expense declined 36% per mcfe due to debt reduction
  • Net debt reduced by $384 million during the quarter
  • Strategic marketing portfolio providing access to premium U.S. and international markets

RRC Forward Guidance & Outlook

Range maintains its 2026 all-in capital budget of $650-$700 million and annual production guidance of approximately 2.35-2.40 Bcfe per day with liquids over 30% of production. The company plans 68 total wells turned to sales in 2026 (50 liquids-rich, 18 dry gas). NGL price guidance was raised to Mont Belvieu plus $1.25-$2.50 per barrel (from plus $0.00-$1.00), expected to add approximately $160 million in cash flow versus prior expectations. GP&T expense guidance was slightly increased to $1.55-$1.60 per mcfe due to higher price-linked processing costs. Natural gas differential guidance remains at NYMEX minus $0.35-$0.45 and condensate differential at WTI minus $10.00-$14.00.

24/7 Wall St

RRC YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

RRC Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“Range is off to a great start in 2026, showing steady progress executing the multi-year disciplined growth plan announced last year. First quarter 2026 results also highlighted the value of Range's strategic marketing portfolio with access to premium markets in the U.S. and abroad as Range realized its highest natural gas premium in over a decade and a record quarterly NGL premium. The resulting strong free cash flow funded a growing dividend, continued share repurchases and the strongest balance sheet in Company history. We believe Range is increasingly well-positioned to serve growing local and global demand for U.S. natural gas and NGLs given our consistent operational results, low full-cycle cost structure, and high-return, long-life asset base.”

— Dennis Degner, Q1 2026 Earnings Press Release