C&J Energy Services: 2Q Earnings Snapshot
HOUSTON (AP) _ C&J Energy Services Inc. (CJ) on Tuesday reported a second-quarter loss of $110.3 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Houston-based company said it had a loss of $1.69. Losses, adjusted for asset impairment costs and severance costs, came to 20 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The oilfield services company posted revenue of $501.1 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $528.6 million.
C&J Energy Services shares have decreased 26% since the beginning of the year. The stock has fallen 59% in the last 12 months.