Range Resources Corp (RRC)

Days of sales outstanding (DSO)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Receivables turnover		12.29	18.70	24.31	20.12	8.62	6.44	5.38	6.02	6.21	5.35	6.54	6.63	7.79	10.81	13.59	14.74	10.36	13.22	12.04	9.22
DSO	days	29.71	19.52	15.02	18.14	42.34	56.70	67.82	60.67	58.77	68.21	55.82	55.01	46.84	33.76	26.86	24.76	35.23	27.61	30.31	39.60

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 12.29
= 29.71

Range Resources Corp's Days of Sales Outstanding (DSO) has shown a declining trend over the last four quarters, indicating improved efficiency in collecting accounts receivable. In Q4 2023, the company's DSO was at 30.58 days, a significant increase from the prior quarter but still below historical levels. This may suggest a slight delay in collecting sales revenue compared to the previous quarter.

However, when comparing Q4 2023 with the same quarter in the previous year, there has been a substantial improvement, as DSO has decreased from 44.50 days to 30.58 days. This indicates that Range Resources Corp has become more efficient in collecting payments from customers over the past twelve months.

It is worth noting that the company's DSO reached its peak in Q2 2022 at 67.82 days before steadily declining. This improvement in DSO reflects favorably on the company's credit and collection policies, indicating effective management of accounts receivable. Overall, the decreasing trend in DSO suggests that Range Resources Corp has been successful in managing its working capital and improving its cash flow position.