C&J Energy Services (CJES) Tops Q2 EPS by 2c

C&J Energy Services (NYSE: CJES) reported Q2 EPS of $0.28, $0.02 better than the analyst estimate of $0.26. Revenue for the quarter came in at $367.9 million versus the consensus estimate of $338.54 million.

Founder, Chairman and Chief Executive Officer Josh Comstock commented, "We successfully carried forward our momentum from the first quarter, achieving another quarter of record-breaking revenue. This outstanding performance was driven by utilization improvements across our core service lines, especially in our hydraulic fracturing, wireline and pumpdown operations. We continued to benefit from increased completion activity and capitalize on industry trends towards more service intensive jobs, which aligns with our operating strategy. We successfully deployed 20,000 new hydraulic fracturing horsepower in late April and 40,000 additional horsepower in July to meet increasing customer demand. Our coiled tubing operations again produced solid results, and our wireline operations, which include our pumpdown service line, delivered another strong quarter."

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

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