Range Resources Corp (RRC)

Pretax margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	1,100,340	1,413,870	402,078	-737,329	-2,216,590
Revenue	US$ in thousands	3,374,420	4,146,800	2,930,220	1,968,700	2,827,620
Pretax margin		32.61%	34.10%	13.72%	-37.45%	-78.39%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $1,100,340K ÷ $3,374,420K
= 32.61%

Range Resources Corp's pretax margin has fluctuated significantly over the past five years. In 2019, the company had a notably low pretax margin of -78.39%, indicating that its expenses exceeded its revenues by a significant margin. However, there has been a substantial improvement in the pretax margin since then.

In 2020, the pretax margin improved to -37.45%, showing progress in controlling expenses relative to revenues. This positive trend continued in 2021, with the pretax margin increasing to 13.72%, reflecting a return to profitability.

The company's performance improved further in 2022, with a pretax margin of 34.09%, indicating strong profitability and efficient cost management. However, in 2023, there was a slight decrease in the pretax margin to 32.61%, which may need further analysis to understand the reasons behind this change.

Overall, Range Resources Corp has shown a significant turnaround in its financial performance, as evidenced by the improvement in pretax margin over the past few years. Continued monitoring of this ratio will be crucial to assess the company's efficiency in generating profits before taxes.