C&J Energy Services, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenue of $491,750,000 against $243,822,000 a year ago. Operating income was $27,462,000 against operating loss of $101,602,000 a year ago. Income before reorganization items and income taxes was $25,991,000 against loss before reorganization items and income taxes of $106,405,000 a year ago. Net income was $56,995,000 or $0.88 diluted per share against net loss of $118,371,000 or $1.00 basic and diluted per share a year ago. Adjusted EBITDA was $57,271,000 against adjusted LBITDA of $11,570,000 a year ago. The significant increase in revenue compared to the prior year period was due to substantially higher activity levels and greatly improved pricing across an expanding asset base as they successfully deployed new equipment and reactivated stacked equipment in response to strong customer demand.

For the year, the company reported revenue of $1,638,739,000 against $971,142,000 a year ago. Operating loss income was $15,779,000 against $870,008,000 a year ago. Loss before reorganization items and income taxes was $17,303,000 against $1,017,969,000 a year ago. Net income was $22,457,000 or $0.37 basic and diluted per share against net loss of $944,289,000 or $7.98 basic and diluted per share a year ago. Net cash provided by operating activities of $94,000 against net cash used in operating activities of $107,372,000 a year ago. Purchases of and deposits on property, plant and equipment were $210,186,000 against $57,909,000 a year ago. Adjusted EBITDA was $130,862,000 against adjusted LBITDA of $94,842,000 a year ago.

For the year 2018 the company estimates total capital expenditures will range between $430 million and $450 million, with approximately $260 million to $275 million directed towards fracturing business. The company expects effective tax rate to be near 0.