Businessweek

C&J Energy Services, Inc. Presents at Citi's Global Energy and Utilities Conference, May-14-2013 11:00 AM. Venue: Hyatt Regency, One Avenue De Lafayette, Boston, Massachusetts, United States. Speakers: Joshua E. Comstock, Founder, Chairman and Chief Executive Officer.

C&J Energy Services, Inc. provided capital expenditures guidance for the year 2013. For the year, the company expects remaining CapEx for 2013 to range from $50 million to $60 million. Despite the challenges based in the company’s sector, the company announced that it continued to generate significant cash flow that has allowed the company to deliver the balance sheet and reinvest in the company’s service lines where market opportunities have arisen.

C&J Energy Services, Inc. (NYSE:CJES) is seeking acquisitions. Josh Comstock, Chairman and Chief Executive Officer of C&J Energy, said, "Having repaid $75 million of the $220 million drawn for our June 2012 acquisition of Casedhole Solutions, we are well positioned for further organic growth and potential acquisitions."

C&J Energy Services, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported Total revenue for the first quarter of 2013 was $276.1 million, a decrease of 4% compared to $286.3 million for the fourth quarter of 2012 and an increase of 15% compared to $239.1 million for the first quarter of 2012. Adjusted EBITDA for the first quarter of 2013 was $57.3 million, compared to $70.9 million for the fourth quarter of 2012 and $84.1 million for the first quarter of 2012. The declines in revenue and Adjusted EBITDA from the fourth quarter of 2012 were primarily due to lower hydraulic fracturing equipment utilization with respect to both contracted and spot market work, particularly in the latter half of the first quarter. The increase in revenue from the first quarter of 2012 was attributable to the addition of wire line business in June 2012, as well as the investments made to add hydraulic fracturing and coiled tubing equipment. Adjusted EBITDA decreased from the first quarter of 2012 as a result of significant pressure on pricing due to excess hydraulic fracturing capacity in the market. Operating income was $40,418,000 against $75,962,000 a year ago. Income before income taxes was $38,824,000 against $75,510,000 a year ago. Net income was $25,144,000 or $0.46 per diluted share against $49,379,000 or $0.92 per diluted share a year ago. Cash provided by operating activities was $62,320,000 against $69,486,000 a year ago. Purchases of and deposits on property and equipment were $36,972,000 against $38,759,000 a year ago.

C&J Energy Services, Inc., Q1 2013 Earnings Call, May 02, 2013