C&J Energy Services Inc (NYSE:CJES) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.21%.
C&J Energy Services Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 61% to $0.39 in the quarter versus EPS of $1.00 in the year-earlier quarter.
Revenue: Decreased 4.09% to $267 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: C&J Energy Services Inc reported adjusted EPS income of $0.39 per share. By that measure, the company beat the mean analyst estimate of $0.37. It missed the average revenue estimate of $273.28 million.
Quoting Management: Founder, Chairman and Chief Executive Officer Josh Comstock commented, “We generated solid margins across our business lines as we benefitted from the combined effect of strong performance under legacy term contracts, continued operating efficiencies and judicious cost management. During the quarter, we successfully reduced costs through a number of initiatives, such as disciplined procurement, distribution management and self-sourcing materials to meet our internal needs. Despite the highly competitive environment, which has impacted pricing and activity levels, we have continued to generate significant cash flow. We have reinvested in the growth of our company as we execute on our strategy to diversify our service offerings and expand geographically. In the second quarter, we advanced vertical integration, enhanced our research and technology capabilities, increased our engineering and sales forces and broadened our operational reach.”
Key Stats (on next page)…