RRC NYSE Russell 1000 Earnings call
Range Resources (RRC) · Q2 2026 results and valuation
Share price: $51.86 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 22 Jul 2026 and 22 Apr 2026
Net income down 42.8% on the previous quarter. Management sounded upbeat, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
−42.8%
Net income vs Q1 2026
Net income 195.3M vs 341.6M
Revenue −19.4%
Against the same quarter last year (Q2 2025) it is −17.8% — part of the move on last quarter is seasonal.
2 · How management spoke
Upbeat
More upbeat than 68% of company calls
Answers to analysts: typical, in line with the script.
Similar to last call.
3 · What stood out
Figure
Waterborne ethane exports reached 658,000 barrels per day in the second quarter, which is up 40% year-on-year.
Valuation
Is Range Resources undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At −9.1% growth a year (3-year revenue growth), the model's fair value is $10.23 a share — the stock trades 407% above it. Today's price assumes 9.4% growth a year.
Current price
$51.86
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+9.4% for 10 yrs
Fair value / share
$10.23
Buy below
$7.67
Price vs fair value
Overvalued >200%
Price vs buy-below price
Overvalued >200%
Read between the lines
-
Fading
The second completion crew expected to start in Q2 will contribute to a production target of 2.5 Bcf equivalent per day across Q3 and Q4.
Source quote
“The second completion crew that we mentioned in our prepared remarks that will start in Q2 or has started actually here in the second... And so think about it being kind of fairly ratable across Q3 and Q4 as we start to end the year at 2.5 Bcf equivalent per day.”
-
Fading
Q1 production results are described as almost an ideal overlay to what the company had a year ago, indicating production character remains consistent.
Source quote
“As we start to think about really the months ahead here in 2026, our production character should look really similar... Yes. So actually looking at Q1 production, it's almost an ideal overlay characterized to what we had a year ago.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Maintaining superior full-cycle margins through operational efficiency, delivering strong capital returns to shareholders, and exploring business opportunities that position us for long-term growth in the evolving energy market.”
“Long-winded answer to your question, we're focused on expanding margins and durable margins, reaching growth opportunities over time, and we certainly have a lot of choices to improve those costs...”
“If we can look to a sales point, a sales hub, and see and quantify the growth, and we can meet some of that growth, we will supply into that...”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 833.6M | 1.03B | −19.4% | 856.3M | −2.7% |
| Gross profit | 774.2M | 976.0M | −20.7% | 821.3M | −5.7% |
| Net income | 195.3M | 341.6M | −42.8% | 237.6M | −17.8% |
| EPS | 0.83 | 1.44 | −42.4% | 0.99 | −16.2% |
| P/E today 10.7 | 10.3 | 12.0 | −1.7 | 20.4 | −10.1 |
Topics
Most discussed now
- Range's results today continue to showcase the durability of the business as a leading full-cycle cost structure, consistent well…
- This quarter's record operational results support Range's peer-leading drilling and completion costs that will benefit Range shareholders…
- At the same time, Range Resources is seeing operational efficiencies accruing to Range as a result of its large blocky acreage...
- This will push production to 2.5 BCF equivalent per day by year-end, and is consistent with Range Resources' previous guidance and...
Faded since Q1 2026
- Fading This free cash flow supported an increased dividend, additional share repurchases and the strongest balance sheet and company history.
- Fading Range Resources continued steady operational progress in the first quarter towards its multiyear plan that was launched over a year ago.
- Fading The first quarter also saw strong realized pricing for Range as winter weather drove natural gas prices higher, while international...
- Fading If you look at the DUC capacity expansion that took place and went into service, last year.
Latest announcements
Official filings, newest first.
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations; Other events · SEC 8-K
- Results of operations · SEC 8-K
- Other events · SEC 8-K