Range Resources Corporation (RRC) functions as an autonomous energy enterprise within the United States, concentrating its efforts on natural gas, natural gas ...
Range Resources Corporation (NYSE: RRC) is a leading U.S. independent natural gas and natural gas liquids (NGLs) producer headquartered in Fort Worth, Texas. Founded in 1976 as Lomak Petroleum, the company has a long legacy in the energy sector, particularly known for pioneering the Marcellus Shale in the Appalachian Basin. ...Range Resources Corporation (NYSE: RRC) is a leading U.S. independent natural gas and natural gas liquids (NGLs) producer headquartered in Fort Worth, Texas. Founded in 1976 as Lomak Petroleum, the company has a long legacy in the energy sector, particularly known for pioneering the Marcellus Shale in the Appalachian Basin. Its core activities involve the exploration, development, and acquisition of hydrocarbon assets, primarily natural gas, NGLs, and crude oil. By the end of 2021, Range Resources operated 1,350 wells and held leasing rights to approximately 794,000 net acres, predominantly in the Appalachian region. The company markets its natural gas and NGLs to utilities, marketing and midstream companies, industrial consumers, petrochemical end-users, and commodity marketers, while also supplying oil and condensate to refineries and transportation firms. As of 2025, Range Resources employed 564 full-time staff and reported a market cap of approximately $8.95 billion. The company has demonstrated strong financial performance with a net profit margin of 26% and a return on equity of 19.3% (TTM). Its CEO, Dennis L. Degner, took office in May 2023, succeeding the retiring CEO. Range Resources continues to focus on sustainable energy development, leveraging its assets in the Marcellus and Utica shale plays to deliver value to shareholders and partners. With a commitment to safe and responsible operations, the company remains a key player in the U.S. natural gas industry.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$3.0B
+27.6%
-19.4%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$658.0M
+147.1%
-42.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+34.1%
+39.2%
-6.9%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+27.9%
+85.0%
-6.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+22.0%
+93.7%
-29.1%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$589.8M
+86.7%
-88.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+19.7%
+46.4%
-85.3%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
31.8%
-31.3%
+1.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.67x
+18.7%
+17.2%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Hello, welcome to the Range Resources second quarter 2026 earnings conference call. All lines have been placed on mute to prevent any background noise. Statements made during this conference call that are not historical facts are forward-looking statements. Such statements are subject to risks and uncertainties, which could cause actual results to differ materially from those in the forward-looking statements. After the speakers' remarks, there will be a question-and-answer period. At this time, I would like to turn the call over to Mr. Laith Sando, Senior Vice President of Investor Relations at Range Resources. Sir, please go ahead.
Thank you, operator. Good morning everyone, and thank you for joining Range's second quarter 2026 earnings call. The speakers on today's call are Dennis Degner, Chief Executive Officer, and Mark Scucchi, Chief Financial Officer. Hopefully you've had a chance to review the press release and updated investor presentation that we've posted on our website. We may reference certain slides on the call this morning. You will also find our 10-Q on Range's website under the Investors tab, or you can access it using the SEC's EDGAR system. Please note we'll be referencing certain non-GAAP measures on today's call. Our press release provides reconciliations of these to the most comparable GAAP figures. We've also posted supplemental tables on our website that include hedging details by month, realized pricing by product, along with calculations of EBITDAX, cash margins, and other non-GAAP measures. With that, let me turn the call over to Dennis.
Dennis DegnerChief Executive OfficerSentiment 0.8
Thanks, Laith, and thanks to all of you for joining the call today. Today marks a unique milestone as we reach the midpoint of our multi-year growth plan that was announced early last year. Range's results today continue to showcase the durability of the business as a leading full-cycle cost structure, consistent well performance, and a differentiated marketing portfolio are delivering significant free cash flow while growing the business. At the same time, we are seeing operational efficiencies accruing to Range as a result of our large blocky acreage position and talented technical team. This quarter's record operational results support Range's peer-leading drilling and completion costs that will benefit Range shareholders for decades to come. Looking at the results for the second quarter, efficient operations in the field and strong well performance drove production of 2.3 BCFE per day. Consistent with our previous calls, Range expects production to continue to ratably increase across the remainder of the year, underpinned by gas processing and related infrastructure that is in the early phases of commissioning. This will push production to 2.5 BCFE per day by year-end, and is consistent with our previous guidance and setting us up well for 2027 and strengthening natural gas fundamentals. Capital for the quarter came in at $222 million as we added a second completion crew to begin …