Last $30.15 USD
Change Today -0.83 / -2.68%
Volume 1.0M
As of 4:15 PM 04/24/14 All times are local (Market data is delayed by at least 15 minutes).

c&j energy services inc (CJES) Key Developments

C&J Energy Services, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Capital Expenditure Guidance for the Year 2014

C&J Energy Services, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net income of $7,290,000 or $0.13 diluted earnings per share on revenue of $265,384,000 compared to net income of $30,430,000 or $0.56 diluted earnings per share on revenue of $286,264,000 for the same period a year ago. Operating income was $15,483,000 and income before income taxes was $13,737,000 compared to operating income of $49,579,000 and income before income taxes of $47,789,000 for the same period a year ago. Adjusted EBITDA was $36,518,000 against $70,888,000 a year ago. Net income for the fourth quarter of 2013 was impacted by an abnormally high tax rate for the quarter due to the timing and deductibility of certain expenses, as well as other year-end true-ups. Revenue increased quarter over quarter due to moderate improvements in utilization in hydraulic fracturing operations during October and November, and a continued strengthening in coiled tubing operations. Capital expenditures totaled $50.0 million during the fourth quarter of 2013 and $158.0 million for the full year, the majority of which consisted of construction and major maintenance costs for equipment. For the year, the company reported net income of $66,405,000 or $1.20 diluted earnings per share on revenue of $1,070,322,000 compared to net income of $182,350,000 or $3.37 diluted earnings per share on revenue of $1,111,501,000 for the same period a year ago. Operating income was $114,215,000 and income before income taxes was $107,718,000 compared to operating income of $282,530,000 and income before income taxes of $277,429,000 for the same period a year ago. Net cash provided by operating activities was $187,278,000 against $254,683,000 a year ago. Purchases of and deposits on property, plant and equipment was $157,987,000 against $182,179,000 a year ago. Adjusted EBITDA was $190,674,000 against $336,712,000 a year ago. Net income and Adjusted EBITDA were impacted by transition to having all of hydraulic fracturing equipment either working in the spot market or under agreements reflective of market rates, as well as increasing costs associated with ongoing strategic initiatives. The company's 2014 capital expenditures are expected to range from $200 million to $220 million, the majority of which will be split evenly across three primary service lines with the remaining $25 million to $35 million for other businesses and strategic initiatives.

C&J Energy Services, Inc. to Report Q4, 2013 Results on Feb 12, 2014

C&J Energy Services, Inc. announced that they will report Q4, 2013 results at 5:00 PM, Eastern Standard Time on Feb 12, 2014

C&J Energy Services, Inc., Q4 2013 Earnings Call, Feb 13, 2014

C&J Energy Services, Inc., Q4 2013 Earnings Call, Feb 13, 2014

C&J Energy Services, Inc. Presents at Goldman Sachs Global Energy Conference 2014, Jan-09-2014 10:15 AM

C&J Energy Services, Inc. Presents at Goldman Sachs Global Energy Conference 2014, Jan-09-2014 10:15 AM. Venue: InterContinental Miami, 100 Chopin Plaza, Miami, FL 33131, United States. Speakers: Joshua E. Comstock, Founder, Chairman and Chief Executive Officer.

C&J Energy Services, Inc. Presents at Cowen and Company 3rd Annual Ultimate Oil Services and E&P Conference, Dec-04-2013 11:30 AM

C&J Energy Services, Inc. Presents at Cowen and Company 3rd Annual Ultimate Oil Services and E&P Conference, Dec-04-2013 11:30 AM. Venue: The New York Hilton Midtown Hotel, 1335 Avenue of the Americas, New York, NY 10019, United States. Speakers: Randall C. McMullen, President, Chief Financial Officer, Treasurer and Director.

 

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CJES

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Valuation CJES Industry Range
Price/Earnings 25.8x
Price/Sales 1.5x
Price/Book 2.4x
Price/Cash Flow 12.2x
TEV/Sales 1.4x
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