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Range Resources

Range Resources (RRC) Q2 2026 Earnings

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

Q2 26 EPS

$0.79

BEAT +20.74%

Est. $0.65

Q2 26 Revenue

$702.1M

MISS 6.28%

Est. $749.2M

vs S&P Since Q2 26

-4.0%

TRAILING MARKET

RRC +0.7% vs S&P +4.8%

Market Reaction

Did RRC Beat Earnings? Q2 2026 Results

Range Resources delivered a standout earnings beat in Q2 2026, posting adjusted EPS of $0.79 against a consensus estimate of $0.65, a 20.74% beat, even as revenue of $702.09 million came in 6.28% below expectations and rose just 0.3% year-over-year. … Read more Range Resources delivered a standout earnings beat in Q2 2026, posting adjusted EPS of $0.79 against a consensus estimate of $0.65, a 20.74% beat, even as revenue of $702.09 million came in 6.28% below expectations and rose just 0.3% year-over-year. The key driver behind the earnings strength was a combination of record operational efficiency and surging NGL realizations, with pre-hedge NGL pricing reaching $29.10 per barrel, a $3.49 premium to Mont Belvieu equivalent, underpinned by Range's access to international markets. Production averaged 2.30 Bcfe per day, up 5% year-over-year, while total cash unit costs fell 3% to $1.92 per mcfe. Despite the earnings beat, shares declined following the announcement, reflecting investor focus on the revenue shortfall and softer natural gas spot prices. Looking ahead, Range maintained its 2026 capital budget of $650 to $700 million and production guidance of 2.35 to 2.40 Bcfe per day, while raising its full-year NGL price guidance to a $2.00 to $2.50 premium relative to Mont Belvieu.

Key Takeaways

  • • Record NGL premium of $3.49 per barrel above Mont Belvieu equivalent driven by strategic access to international markets
  • • Production growth of 5% year-over-year to 2.30 Bcfe per day
  • • Record drilling efficiency of nearly two miles drilled in a single day
  • • Record completion efficiency with 1,900 stages completed by two crews and single-day record of 22 hours pumping
  • • Total cash unit costs declined 3% year-over-year to $1.92 per mcfe
  • • Interest expense per mcfe decreased 46% to $0.07 due to debt reduction
  • • NGL production grew 7% year-over-year

RRC Forward Guidance & Outlook

Range maintained 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 expected to be over 30% of production. The company plans 68 total wells to sales in 2026 (50 liquids-rich, 18 dry gas), with 38 already completed in H1 and 30 remaining. The company improved its 2026 natural gas differential guidance to minus $0.35 to $0.40 versus NYMEX (from minus $0.35 to $0.45), improved NGL price guidance to +$2.00 to +$2.50 relative to Mont Belvieu (from +$1.25 to +$2.50), and narrowed condensate differential guidance to minus $10.00 to $12.00 versus WTI (from minus $10.00 to $14.00). Management expects steadily increasing natural gas demand will require additional supply from Appalachia, positioning Range for long-term growth beyond its announced development plans through 2027.

24/7 Wall St

RRC YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

RRC Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q2 26

“Range's year-to-date results reflect continued progress on our multi-year growth plan, which was supported by record drilling and completion efficiencies in the most recent quarter. Range's strategic access to international markets drove a record NGL premium for the quarter, bolstering margins. The resulting strong free cash flow funded shareholder returns through dividends and share repurchases while advancing our operational momentum.”

— Dennis Degner, Q2 2026 Earnings Press Release

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