Range Resources Corp (RRC)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	2,830,910	3,409,090	3,842,170	4,403,452	3,387,948	3,369,808	2,575,947	1,886,852	2,357,500	1,444,477	994,496	939,527	971,157	-1,279,070	-478,601	-78,172	-58,088	439,432	606,752	107,601
Revenue (ttm)	US$ in thousands	3,374,418	4,063,441	4,564,257	5,152,420	4,146,796	4,083,246	3,275,345	2,484,927	2,930,223	1,962,279	1,958,985	1,900,809	1,968,697	1,975,415	2,298,515	2,773,398	2,827,615	3,294,651	3,483,431	3,288,186
Gross profit margin		83.89%	83.90%	84.18%	85.46%	81.70%	82.53%	78.65%	75.93%	80.45%	73.61%	50.77%	49.43%	49.33%	-64.75%	-20.82%	-2.82%	-2.05%	13.34%	17.42%	3.27%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,830,910K ÷ $3,374,418K
= 83.89%

Range Resources Corp consistently maintained a gross profit margin of 100% throughout the quarters from Q1 2022 to Q4 2023. A gross profit margin of 100% indicates that the company is able to generate revenue sufficient to cover all costs directly associated with production, resulting in no cost of goods sold. This could be viewed positively as the company is efficiently managing its production costs and potentially pricing its products effectively. However, it is also important to note that a consistent gross profit margin of 100% could potentially raise questions about the accuracy of the reported financial data. Further analysis and exploration may be required to understand the underlying factors contributing to this exceptional performance.