Range Resources Corp (RRC)
Pretax 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 | ||
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Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 1,100,343 | 1,711,260 | 2,078,842 | 2,590,085 | 1,413,870 | 1,325,929 | 513,269 | -200,651 | 402,078 | -465,218 | -870,567 | -902,682 | -737,329 | -3,084,135 | -2,373,636 | -2,028,503 | -2,216,589 | -1,745,619 | -1,598,143 | -1,861,781 |
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 |
Pretax margin | 32.61% | 42.11% | 45.55% | 50.27% | 34.10% | 32.47% | 15.67% | -8.07% | 13.72% | -23.71% | -44.44% | -47.49% | -37.45% | -156.13% | -103.27% | -73.14% | -78.39% | -52.98% | -45.88% | -56.62% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,100,343K ÷ $3,374,418K
= 32.61%
Range Resources Corp has shown fluctuations in its pretax margin over the past few quarters. In Q4 2023, the pretax margin was 32.61%, which decreased from the previous quarter's 42.11%. Prior to that, the pretax margin was on an upward trend, starting from Q1 2022 where it was -8.08% and steadily increasing to 50.27% in Q1 2023. However, there was a significant decline in Q2 2023 to 45.55%, followed by a further decrease in Q3 2023 to 42.11%.
The trend indicates that the company experienced a decline in profitability in the later quarters of 2023 compared to the earlier quarters. It is important for Range Resources Corp to closely monitor its cost structure, revenue streams, and operating efficiency to improve its pretax margin and ensure sustainable profitability in the future.
Peer comparison
Dec 31, 2023