EarningsQ2 2026 Earnings Report
MX:RRCO Q2 2026 EPS Results
Actual EPS$14.35
Consensus EPS$11.90
Beat/MissBeat by +$2.45
One Year Ago EPS$11.99
MX:RRCO Q2 2026 Revenue Results
Actual Revenue$13.80B
Expected Revenue$13.53B
Beat/MissBeat by +$276.61M
YoY Revenue Growth+8.34%
Earnings Announcement Details
QuarterQ2 2026
Date07/21/2026
TimeAfter Close
Conference CallTuesday, July 21, 2026
MX:RRCO Upcoming Earnings
Range Resources's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:RRCO Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasizes strong operational execution, record completion/drilling efficiencies, robust export-driven marketing results (notably NGL premiums and rising LNG feed gas), disciplined capital sequencing, and meaningful shareholder returns and balance sheet improvements. Near-term headwinds include a softer front-month gas curve, continued sub-investment grade credit rating, and modest drilling resequencing into 2027, but management presents clear plans to capture export demand, maintain guidance, and convert inventory optionality into long-term growth and free cash flow.Company Guidance
Production Growth and Guidance
Q2 production of 2.3 BCFe/d; on-track guidance to 2.4 BCFE/d in Q3 and 2.5 BCFE/d by year-end; multi-year plan target of ~2.6 BCFE/d in 2027 (~20% growth from plan announcement).
Record Operational Efficiency
Drilled ~190,000 lateral feet in Q2; 19 days with >1 mile drilled, including a 24-hour period >10,500 feet; best quarterly completions in company history (~1,900 frac stages combined for two crews), averaging >10 stages/day/crew and ~14 stages/day for base electric frac fleet; single-crew record of 20 frac stages/day and 22 pumping hours/day.
Completion Throughput and Productivity
Two frac crews achieved an annualized single-crew rate equivalent of >750,000 lateral feet (based on quarter performance); management cites peer-leading drilling and completion cost per foot after decades of activity.
Capital Execution and Sequencing
Q2 capital spending of $222 million; added a second completion crew and a spot horizontal rig for a single pad; plan to return to one rig/one frac crew by Q4 while maintaining previously communicated 2026/2027 capital guidance (only sequencing shifted).
Strong NGL and Export Marketing Results
Captured an NGL premium of $3.49/bbl over Mont Belvieu in Q2 and raised full-year NGL premium guidance to $2.50/bbl over Mont Belvieu; US waterborne ethane exports averaged 658,000 bpd in Q2 (+40% YoY) with a June record ~750,000 bpd; propane+butane exports >2.6 million bpd (+30% YoY, +19% vs Q1).
Natural Gas Export Momentum
US LNG feed gas averaged >17 BCF/d in Q2, a 17% increase year-over-year; management expects continued export-driven demand growth into 2027 and beyond.
Shareholder Returns and Balance Sheet Improvements
Repurchased $78 million of shares in Q2 ($105 million YTD); paid $24 million dividends in Q2 ($47 million YTD); reduced debt by $337 million YTD; enterprise value returned to equity holders YTD $489 million (~5.5% of market cap); since repurchase program start acquired 35.9 million shares (~10% reduction in share count).
Attractive Cash Flow Potential
CFO illustration: exiting growth plan at 2.6 BCF/d with a $3.75 mid-cycle gas price would generate >$2.5 billion free cash flow over three years (~30% of current market cap), sufficient to repay debt and repurchase significant shares.
Long-Term Inventory and Low Capital Intensity
Marcellus inventory cited as 30+ years; management expects to sustain multi-decade production with relatively low capital intensity (estimate: maintain 2.6 BCFE/d for <$600M annual D&C capital, ~ $0.60 per MCFE).
GP&T and Infrastructure Positioning
Gathering declines have helped offset pipeline tariff inflation, keeping GP&T relatively stable; commissioning of gas processing/infrastructure underway and Repauno dock capacity expected to support east-coast NGL exports in 2027, supporting premium capture.
MX:RRCO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed