Range Resources Corp. Q2 Profit Decreases, but beats estimates

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

The company's bottom line came in at $30.23 million, or $0.12 per share. This compares with $452.86 million, or $1.77 per share, in last year's second quarter.

Excluding items, Range Resources Corp. reported adjusted earnings of $71.76 million or $0.30 per share for the period.

Analysts on average had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 48.2% to $636.98 million from $1.23 billion last year.

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

-Earnings (Q2): $30.23 Mln. vs. $452.86 Mln. last year. -EPS (Q2): $0.12 vs. $1.77 last year. -Analyst Estimates: $0.24 -Revenue (Q2): $636.98 Mln vs. $1.23 Bln last year.