Free Research Report as C&J Energy’s Q3 Earnings Beat Expectations

LONDON, UK / ACCESSWIRE / December 26, 2017 / Active-Investors.com has just released a free earnings report on C&J Energy Services, Inc. (NYSE: CJ) (“C&J Energy”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CJ. The Company posted its financial results on November 09, 2017, for the third quarter of the fiscal year 2017. The Houston, Texas-based Company reported a 90.4% surge in quarterly revenues. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, C&J Energy Services most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=CJ

Earnings Highlights and Summary

In Q3 FY17, C&J Energy posted revenues of $442.65 million, which came in above the $232.54 million recorded at the end of Q3 FY16. However, the Company’s total revenue numbers fell short of market expectations of $445.87 million. The Company attributed the growth during the reported quarter to strong activity levels, higher utilization, and pricing in its Completion Services segment.

The oil & gas equipment and services Company reported a net income of $10.48 million, or $0.17 per diluted share, in Q3 FY17 versus a net loss of $106.39 million, or $0.90 per diluted share, in Q3 FY16. Meanwhile, market analysts had forecasted a net income of $0.07 per diluted share for Q3 FY17.

Earnings Metrics

For Q3 FY17, the Company’s direct costs were $339.98 million, up from the $216.84 million spent in the last year’s same quarter. The Company’s selling, general, and administrative expenses (SG&A) were $59.64 million for the reported quarter versus $48.83 million in Q3 FY16, while Research and Development (R&D) expenses were down to $1.67 million in Q3 FY17 from $1.80 million in Q3 FY16. The Company’s operating income for the reported quarter stood at $6.41 million compared to an operating loss of $85.55 million in Q3 FY16. Furthermore, C&J Energy’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was $43.90 million for the reported quarter versus a negative adjusted EBIDTA of $17.91 million in the prior year’s comparable quarter.

Segment Performance

During Q3 FY17, the Completion Services segment’s revenues increased to $344.94 million from $140.20 million in Q3 FY16. The segment posted an operating income of $45.76 million in Q3 FY17 compared to an operating loss of $42.69 million in the prior year’s corresponding quarter. Furthermore, the segment’s adjusted EBITDA was $69.02 million for Q3 FY17 versus a negative adjusted EBITDA of $6.09 million in Q3 FY16.

The Well Support Services segment reported revenues of $97.71 million in Q3 FY17 compared to $90.31 million in Q3 FY16. The segment’s operating loss came in at $10.026 million for Q3 FY17 compared to an operating loss of $11.65 million in the previous year’s same quarter. Additionally, the segment posted an adjusted EBITDA of $0.79 million in Q3 FY17 compared to $6.82 million in Q3 FY16.

Cash Matters

During the nine months ended September 30, 2017, C&J Energy used $60.83 million of cash for its operating activities versus $82.74 million in the prior year’s same period. The Company’s cash and cash equivalents balance stood at $213.12 million as on September 30, 2017, compared to $64.58 million at the close of books as on December 31, 2016.

Stock Performance Snapshot

December 22, 2017 – At Friday’s closing bell, C&J Energy Services’ stock marginally fell 0.29%, ending the trading session at $33.89.

Volume traded for the day: 242.91 thousand shares.

Stock performance in the last month – up 13.61%; previous three-month period – up 11.52%; and past six-month period – up 7.42%

After last Friday’s close, C&J Energy Services’ market cap was at $2.15 billion.

Price to Earnings (P/E) ratio was at 9.02.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry. This sector was up 0.1% at the end of the session.

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