Free Post Earnings Research Report: C&J Energy’s Revenues Grew 76%; EPS Surged 153.5%
Stock Monitor: Cypress Energy Partners Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 08, 2018 / If you want access to our free earnings report on C&J Energy Services, Inc. (NYSE: CJ), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CJ. The Company reported its financial results on May 03, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Houston, Texas-based Company surpassed market estimates for revenue and earnings for Q1 FY18. Register today and get access to over 1,000 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:
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Earnings Highlights and Summary
During the first quarter of the fiscal year 2018, C&J Energy's revenues advanced 76% to $553.0 million compared to $314.2 million in the first quarter of 2017, driven by a strong performance in all of its core businesses. The Company's revenues increased 12.5% sequentially, reflecting the fifth consecutive quarter of double digit growth. For the reported quarter, the Company's revenue numbers exceeded market estimates of $538.14 million.
For Q1 FY18, C&J Energy incurred direct costs of $419.0 million compared to $261.7 million in Q1 FY17, increasing 60.1% on a y-o-y basis. For the reported quarter, the Company's selling, general, and administrative expenses (SG&A) hiked to $65.9 million versus $62.1 million in the year ago comparable period.
C&J Energy reported an operating income of $20.3 million in Q1 FY18 compared to loss of $36.4 million in Q1 FY17. The Company posted adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $73.7 million in the reported quarter compared to $4.6 million in the year ago corresponding period, increasing 28.7% on a y-o-y basis.
For the reported quarter, C&J Energy's net income advanced to $20.6 million compared to a loss of $32.3 million in the same quarter of last year. The Company's adjusted net income grew 39.4% to $27.5 million in the reported quarter compared to $19.7 million in the prior quarter.
C&J Energy's earnings per share (EPS) surged 153.5% to $0.31 in Q1 FY18 compared to a loss of $0.58 per share in Q1 FY17. For Q1 FY18, the Company reported adjusted EPS of $0.41, beating market estimates of $0.37.
Segment Details
C&J Energy operates through three reportable segments, namely (i) Completion Services, (ii) Well Construction and Intervention Services, and (iii) Well Support Services.
For Q1 FY18, C&J Energy's Completion Services segment aggregated revenues of $374.1 million compared to $191.8 million in Q1 FY17. For the reported quarter, the segment's operating income increased to $57.8 million compared to $10.9 million in the prior year's corresponding period. The segment's adjusted EBITDA grew to $80.9 million in Q1 FY18 versus $21.7 million in Q1 FY17.
During the reported quarter, C&J Energy's Well Construction and Intervention Services segment's revenues increased to $87.4 million compared to $26.2 million in the prior year's same quarter. The segment's operating income rose to $5.5 million in Q1 FY18 compared to a loss of $535 thousand in Q1 FY17. The segment's adjusted EBITDA improved to $16.0 million in the reported quarter versus $1.0 million in the year ago comparable period.
C&J Energy's Well Support Services segment's revenues declined to $91.4 million in Q1 FY18 compared to $96.3 million in Q1 FY17. The segment incurred an operating loss of $8.8 million in Q1 FY18 compared to a loss of $8.2 million in Q1 FY17. For the reported quarter, the segment's adjusted EBITDA increased to $5.1 million compared to $3.8 million in the year ago corresponding period.
Cash Matters
As of March 31, 2018, C&J Energy's cash and cash equivalents stood at $88.0 million compared to $115.1 million as of March 31, 2017. For the reported quarter, the Company generated cash inflow from operating activities of $35.7 million compared to cash used of $77.9 million in the prior year's same period.
Stock Performance Snapshot
June 07, 2018 - At Thursday's closing bell, C&J Energy Services' stock climbed 2.97%, ending the trading session at $26.39.
Volume traded for the day: 554.29 thousand shares.
Stock performance in the previous three-month period – up 4.97%
After yesterday's close, C&J Energy Services' market cap was at $1.86 billion.
The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry. This sector was up 0.5% at the end of the session.
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