C&J Energy Services (CJES) Tops Q4 EPS by 11c

C&J Energy Services (NYSE: CJES) reported Q4 EPS of $0.54, $0.11 better than the analyst estimate of $0.43. Revenue for the quarter came in at $483.5 million versus the consensus estimate of $447.25 million.

Founder, Chairman and Chief Executive Officer Josh Comstock commented, "2014 was a remarkable year in the history of C&J and I am proud of how we executed on our strategy to strengthen, expand and diversify our business. With a 10% growth in revenue over the prior period, the fourth quarter marked our fourth consecutive quarter to achieve double-digit percentage sequential revenue gains, culminating in a 50% increase in revenue year over year. These outstanding results were driven by strong operating performance and the deployment of additional equipment across our core service lines, as we continued to capitalize on the rise in completion activity and service intensity that carried through most of the year. Fourth quarter revenue from our hydraulic fracturing services increased 11% sequentially as we executed a high volume of service intensive work across an expanded asset base with operational excellence and efficiency. Our other service lines also delivered improved results and we ended the year with a record quarter for our wireline, pumpdown and coiled tubing operations. We accomplished this even with decreasing U.S. domestic drilling and completion activities towards the end of the fourth quarter as a result of rapidly declining commodity prices, as well as the typical year-end seasonal slowdown and disruption due to inclement weather."

For earnings history and earnings-related data on C&J Energy Services (CJES) click here.

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