C&J is moving forward with purpose.
Driven by our core values, we are focused on a disciplined approach to success. To stay resiliently on pace with a perpetually changing market, we constantly ask:
Accomplishments & Results
- Grew consolidated revenue 36% year over year to a company record of $2.2 billion.
- Delivered a net increase in cash of $21.9 million with free cash flow generation of $66.3 million.
- Managed capital expenditure through disciplined capital deployment philosophy.
- Reduced SG&A expense 10% year over year.
- Maintained our strong balance sheet, ending the year with a cash balance of $135.7 million and no borrowings on our credit facility (excluding letters of credit), resulting in $370.4 million of total liquidity.
- Embarked on $150 million stock buyback program and purchased approximately $40 million in stock.
- Invested in value-added technologies to enhance safety, efficiency, reliability and operating costs.
- Introduced numerous product and fleet improvements to achieve greater reliability and cost efficiency.
- Achieved the best safety record (by total recordable incident rate) in C&J’s history.
The above graph compares the cumulative total return to stockholders on our common stock, the Russell 2000 Index and an industry Peer Group Index for the period ended December 31, 2018. The Peer Group Index consists of Basic Energy Services, Inc.; Key Energy Services, Inc.; Superior Energy Services, Inc.; RPC, Inc.; ProPetro Holding Corp.; Keane Group, Inc.; Pioneer Energy Services Corp.; Nine Energy Services, Inc.; FTS International, Inc. and Liberty Oilfield Services, Inc. The graph assumes that $100.00 was invested in our common stock on January 12, 2017 (the date C&J common stock began to trade subsequent to our emergence from the Chapter 11 Proceeding) and in the comparison groups and assumes the reinvestment of all cash dividends prior to any tax effect. We have not declared any dividends during the period covered by this graph. This graph depicts the past performance of our common stock and in no way should be used to predict future performance.