Range Resources(US:RRC)2025-10-29 18:51Financial Performance - Third quarter 2025 GAAP revenues totaled $749 million, with net income of $144 million ($0.60 per diluted share) and cash flow from operations of $248 million[6]. - Total revenues and other income for Q3 2025 were $748.528 million, representing a 22% increase compared to $615.102 million in Q3 2024[40]. - Net income for Q3 2025 was $144.307 million, a significant increase of 185% from $50.656 million in Q3 2024[40]. - The company reported a net income per common share of $0.61 for Q3 2025, up from $0.21 in Q3 2024[40]. - Net income for the three months ended September 30, 2025, was $144,307 thousand, a substantial increase of 185% compared to $50,656 thousand for the same period in 2024[46]. - Adjusted earnings per diluted share for Q3 2025 was $0.57, compared to $0.48 in Q3 2024, reflecting an increase of 18.75%[55]. - Income from operations before income taxes surged by 177% to $183,344,000 in Q3 2025 from $66,229,000 in Q3 2024[53]. - The company reported a 33% increase in income before income taxes, as adjusted, for the nine months ended September 30, 2025, totaling $681,877,000 compared to $512,798,000 in 2024[53]. Cash Flow and Capital Expenditures - Cash flow from operations before changes in working capital was $279 million, and adjusted net income was $135 million ($0.57 per diluted share) for the quarter[7]. - Capital spending for the quarter was $190 million, representing approximately 29% of the annual 2025 budget, with total capital spending through Q3 at $491 million (74% of the 2025 budget)[14]. - The company repurchased $56 million in shares and paid $21 million in dividends during the quarter[8]. - Net cash provided from operating activities for the nine months ended September 30, 2025, reached $913,818 thousand, up 25.7% from $726,624 thousand in 2024[46]. - The company reported a cash margin of $982,779,000 for the nine months ended September 30, 2025, up from $800,236,000 in 2024, representing a growth of 22.8%[58]. Production and Sales - Average production for the quarter was 2.23 Bcfe per day, with approximately 69% being natural gas[8]. - Natural gas, NGLs, and oil sales for Q3 2025 reached $611.491 million, a 14.7% increase from $533.277 million in Q3 2024[40]. - Natural gas sales increased by 54% to $361,124,000 in Q3 2025 from $234,139,000 in Q3 2024[50]. - Oil sales rose by 15% to $611,491,000 in Q3 2025 compared to $533,277,000 in Q3 2024[50]. - The company produced 204,961 MMCFE in Q3 2025, slightly higher than 202,810 MMCFE in Q3 2024, showing a marginal increase of 0.6%[57]. - Total natural gas, NGLs, and oil sales reported a 31% increase, reaching $1,249,456,000 for the nine months ended September 30, 2025, up from $715,266,000 in the same period of 2024[50]. Debt and Liabilities - As of September 30, 2025, net debt was approximately $1.23 billion, with $839 million available under the share repurchase program[12][13]. - Total debt decreased by 28% to $1,216,767 thousand as of September 30, 2025, compared to $1,697,883 thousand at the end of 2024[44]. - Net debt, a non-GAAP measure, declined by 12% to $1,228,825 thousand from $1,404,212 thousand year-over-year[44]. - Current liabilities significantly reduced to $591,453 thousand, down 53% from $1,263,247 thousand at the end of 2024[43]. Pricing and Market Conditions - Realized price for natural gas, including hedges, was $3.29 per mcfe, with a $0.22 premium over NYMEX natural gas[8]. - Range expects to improve its natural gas differential to average ($0.40) to ($0.43) relative to NYMEX in 2025[11]. - Average natural gas price per mcf rose by 51% to $2.56 in Q3 2025 from $1.69 in Q3 2024[50]. - Average oil price per bbl decreased by 15% to $54.25 in Q3 2025 from $64.03 in Q3 2024[50]. Expenses - Total costs and expenses for Q3 2025 were $565.184 million, a slight increase of 3% from $548.873 million in Q3 2024[40]. - The company’s transportation, gathering, processing, and compression expenses for Q3 2025 were $301.110 million, down from $306.154 million in Q3 2024[40]. - The company’s interest expense for Q3 2025 was $23.200 million, a decrease from $27.958 million in Q3 2024[40]. - The company’s exploration expenses for Q3 2025 were $7.820 million, an increase from $6.988 million in Q3 2024[40]. - Transportation, gathering, processing, and compression expense per mcfe decreased by 3% to $1.47 in Q3 2025 from $1.51 in Q3 2024[50].