Key Highlights

  • Range Resources reported third quarter total revenues and other income of USD 842.8 million for the period.
  • Net income was USD 175.3 million, with basic earnings per share of USD 0.75, compared with USD 0.61 a year earlier.
  • The company entered into a definitive merger agreement with EQT Corporation on October 25, 2026, structured as an all-stock transaction.
  • Under the agreement, Range shareholders are to receive 0.987 shares of EQT common stock for each Range share held.

Earnings Reported Alongside Major Corporate Transaction

Range Resources Corporation (NYSE:RRC) reported third quarter total revenues and other income of USD 842.8 million. Net income was USD 175.3 million, with basic earnings per share of USD 0.75, compared with USD 0.61 in the same period of 2025.

These quarterly results were reported alongside disclosure of a significant subsequent event: on October 25, 2026, the company entered into an Agreement and Plan of Merger with EQT Corporation to combine the two companies via an all-stock transaction.

Merger Terms and Ownership Structure

Under the terms of the merger agreement, Range shareholders are to receive a fixed exchange ratio of 0.987 shares of EQT common stock for each share of Range common stock held at closing. Upon completion, EQT shareholders would own approximately 73% of the combined company, with Range shareholders owning approximately 27% on a fully diluted basis.

The boards of directors of both companies unanimously approved the merger, which remains subject to approval by shareholders of both companies, regulatory clearances including under the Hart-Scott-Rodino Antitrust Improvements Act, and other customary closing conditions, including the registration of EQT shares to be issued in the transaction.

Termination Provisions and Expected Timeline

The merger agreement contains customary pre-closing covenants, including a requirement that Range continue to operate as a standalone company until the deal closes. Under certain specified circumstances in which the agreement is terminated, Range would be required to pay EQT a termination fee of USD 423 million, while EQT would be required to pay Range a termination fee of USD 1.148 billion.

The companies expect the merger to close during the first quarter of 2027, subject to shareholder and regulatory approvals. The combination would unite two natural gas producers with significant Appalachian Basin operations, pairing Range's upstream focused asset base with EQT's vertically integrated upstream and midstream operations.

Merger Progress Metrics to Track

The timeline toward shareholder votes at both companies, progress on regulatory clearances including antitrust review, and the registration statement EQT must file in connection with the share issuance are among the items investors may track as the transaction moves toward its targeted first quarter 2027 close. Quarterly operating results in the interim continue to reflect Range as a standalone company under the terms of the merger agreement, a status that carries forward until the deal is completed. The pre-closing covenants in the agreement, which require Range to operate in the ordinary course of business, mean the company's day-to-day operations and reporting stay largely unchanged before the transaction closes.