Last $10.30 USD
Change Today +0.76 / 7.97%
Volume 1.4M
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c&j energy services inc (CJES) Key Developments

C&J Energy Services Reportedly Asked To Look For Potential Buyers

C&J Energy Services, Inc. (NYSE:CJES) has been asked to look for buyers, reported Wall Street Journal citing sources. John Noble at a hearing in the Delaware Court of Chancery, suspended the deal for 30 days, during which he ordered the Board of C&J Energy Services to feel out other potential buyers, according to the people. No written order was immediately available.

C&J Energy Services, Inc. Presents at Cowen and Company 4(th) Annual Ultimate Energy Conference, Dec-03-2014 08:00 AM

C&J Energy Services, Inc. Presents at Cowen and Company 4(th) Annual Ultimate Energy Conference, Dec-03-2014 08:00 AM. Venue: The New York Hilton Midtown, New York, New York, United States.

C&J Energy Services, Inc. Presents at Barclays CEO Energy-Power Conference, Sep-03-2014

C&J Energy Services, Inc. Presents at Barclays CEO Energy-Power Conference, Sep-03-2014 . Venue: The Sheraton NY Hotel & Towers, 811 Seventh Ave, New York City, NY 10019, United States.

C&J Energy Services, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Depreciation and Amortization Guidance for the Fourth Quarter and Capital Expenditure Guidance for the Remaining of Fiscal Year 2014

C&J Energy Services, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company’s revenue was $439,978,000 against $261,931,000 a year ago. Operating income was $42,011,000 against $23,459,000 a year ago. Income before income taxes was $39,439,000 against $21,921,000 a year ago. Net income was $23,816,000 against $13,125,000 a year ago. Diluted net income per common share was $0.42 against $0.24 a year ago. Adjusted net income was $26,489,000 against $13,125,000 a year ago. Adjusted net income per diluted share was $0.47 against $0.24 a year ago. Adjusted EBITDA was $75,159,000 against $42,913,000 a year ago. Capital expenditures totaled $92.1 million during the third quarter of 2014. The improvements in revenue and adjusted EBITDA were driven by a tremendous performance across its core service line. The improved results were driven by robust utilization levels and strong growth, particularly in hydraulic fracturing and wireline businesses. The company generated $41 million of cash from operations during the third quarter of 2014 compared to $20.3 million for the second quarter. This sequential increase was primarily related to the growth in net income as a result of strong activity levels over the third quarter. Third quarter CapEx primarily consisted of construction costs for new equipment, including a portion of the CapEx incurred for the 80,000 of incremental hydraulic horsepower that added during the quarter. For the quarter, the company’s revenue was $1,124,436,000 against $804,938,000 a year ago. Operating income was $82,979,000 against $98,732,000 a year ago. Income before income taxes was $76,841,000 against $93,981,000 a year ago. Net income was $46,512,000 against $59,116,000 a year ago. Diluted net income per common share was $0.82 against $1.07 a year ago. Net cash provided by operating activities was $112,678,000 against $170,012,000 a year ago. Purchases of and deposits on property, plant and equipment was $222,379,000 against $109,154,000 a year ago. Adjusted net income was $53,679,000 against $59,227,000 a year ago. Adjusted net income per diluted share was $0.95 against $1.07 a year ago. Adjusted EBITDA was $171,162,000 against $154,156,000 a year ago. Capital expenditures year-to-date totaled $235.8 million. For the fourth quarter of 2014, the company expects depreciation and amortization to be approximately $31 million. The company’s remaining 2014 capital expenditures are expected to range from $45.0 million to $55.0 million based on existing equipment orders and planned development of strategic initiatives, some of which may carry into 2015. The effective tax rate came in at 39.5% for the year-to-date and the company anticipates that it will remain at this level for the remainder of the year 2014.

C&J Energy Services, Inc. Presents at Wells Fargo Securities Research, Economics & Strategy 2014 Energy Symposium, Dec-10-2014 09:30 AM

C&J Energy Services, Inc. Presents at Wells Fargo Securities Research, Economics & Strategy 2014 Energy Symposium, Dec-10-2014 09:30 AM. Venue: The Waldorf Astoria, 301 Park Avenue, New York, NY 1002, United States. Speakers: John Fitzpatrick, Business Development, 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 10.8x
Price/Sales 0.4x
Price/Book 0.7x
Price/Cash Flow 3.8x
TEV/Sales 0.1x
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