HOUSTON (AP) _ C&J Energy Services Inc. (CJ) on Tuesday reported a first-quarter loss of $23.6 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 36 cents. Losses, adjusted for severance costs and non-recurring costs, came to 28 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.
The oilfield services company posted revenue of $510.8 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $479.9 million.
C&J Energy Services shares have climbed almost 4% since the beginning of the year. The stock has decreased 54% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CJ at https://www.zacks.com/ap/CJ