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
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.