C&J Energy Services, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenue of USD 567,924,000 against USD 442,652,000 a year ago. Operating income was USD 9,376,000 against USD 6,412,000 a year ago. Net income was USD 10,433,000 against USD 10,484,000 a year ago. Net income per common share - basic and diluted was USD 0.16 against USD 0.17 a year ago. Income before income taxes was USD 8,929,000 against USD 7,357,000 a year ago. Adjusted net income was USD 10,562,000 or USD 0.16 per diluted share against USD 11,363,000 or USD 0.18 per diluted share a year ago. EBITDA was USD 70,346,000 against USD 43,799,000 a year ago. Adjusted EBITDA was USD 72,802,000 against USD 43,899,000 a year ago. Capital expenditures totaled USD 88.5 million during the third quarter of 2018, compared to USD 92.8 million in the second quarter of 2018 and USD 78.9 million in the third quarter of 2017. 

For the nine months, the company reported revenue of USD 1,731,445,000 against USD 1,146,989,000 a year ago. Operating income was USD 60,611,000 against operating loss of USD 43,240,000 a year ago. Net income was USD 59,522,000 against net loss of USD 34,539,000 a year ago. Net income per common share - basic and diluted was USD 0.89 against net loss per common share - basic and diluted of USD 0.57 a year ago. Net cash from operating activities was USD 200,297,000 against net cash used in operating activities of USD 60,834,000 a year ago. Purchases of and deposits on property, plant and equipment was USD 244,263,000 against USD 151,445,000 a year ago. Income before income taxes was USD 57,065,000 against loss before income taxes of USD 43,295,000 a year ago. EBITDA was USD 221,825,000 against USD 58,690,000 a year ago. Adjusted EBITDA was USD 234,263,000 against USD 73,592,000 a year ago.

The company expects fourth quarter of 2018 capital expenditures to decline and its revised 2018 capital expenditure budget is expected to range between USD 315 million and USD 325 million. Earnings estimate has been decreased to loss of USD 0.04 per share a decrease from the previous forecast of loss of USD 0.02 per share.