C&J grows profits in changing landscape

C&J results: Big Texas business for completions specialist

Luke Johnson

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Kathrine Schmidt

 08 August 2012 23:02 GMT

C&J Energy Services saw its profits spike even as demands for its pressure pumping and coiled tubing services shifted, the company said Wednesday.

The hydraulic fracturing and completions specialist posted net income of $53.2 million in the three months to June, a 60% increase from the year-ago quarter.

Overall revenue grew 53% to $278.3 million.

Of that amount, the company counted sales of $216.4 million from hydraulic fracturing services, carrying out 1,667 stages during the second quarter of 2012.

That represented a gain over the $150.6 million of revenue and 856 fracturing stages from the year-ago quarter.

It also saw its overall horsepower capacity grow 15% to 240,000 sequentially since the first quarter of 2012.

"On a per…

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