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Mar 31, 2021
Newpark Resources Q1 2021 Earnings Report
Reported first quarter 2021 results, with Industrial Solutions segment generating $53 million of revenues and 25% operating margin. First quarter cash provided by operating activities was $28 million, and debt was reduced by $15 million.
Key Takeaways
Newpark Resources reported improved results for Q1 2021, driven by strong performance in the Industrial Solutions segment and continued cash generation. Total revenues were $141.2 million, and the company generated $28 million in cash from operations.
Industrial Solutions segment revenues improved 6% sequentially and 68% year-over-year to $53 million, with a 25% operating margin.
Fluids Systems segment revenues improved 11% sequentially to $88 million.
Generated $28 million of cash from operations and $27 million of Free Cash Flow.
Reduced total debt to $72 million and increased cash balance to $34 million.
Forward Guidance
Newpark has scheduled a conference call to discuss first quarter of 2021 results and its near-term operational outlook, which will be broadcast live over the Internet, on Wednesday, May 5, 2021 at 10:00 a.m. Eastern Time / 9:00 a.m. Central Time.
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