Service & Supply | Quarterly / Earnings Reports | Oilfield Services | First Quarter (1Q) Update | Frac Markets - Pressure Pumping
C&J Energy Margins Squeezed; Additional Horsepower
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First quarter results increased sequentially due to greater utilization in our hydraulic fracturing business, as well as the continued expansion of our coiled tubing and wireline businesses. Our improved results were driven by higher activity levels across our operations as we attracted new customers and expanded market share.
The rise in completion activities coupled with a job-mix involving higher volumes of certain proppants and other consumables used in our hydraulic fracturing services resulted in greater input costs and negatively impacted first quarter Adjusted EBITDA and net income. Increased costs of $8.1 million associated with the investments we are making in our strategic initiatives also impacted our first quarter results.
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