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Mar 31, 2022
Newpark Resources Q1 2022 Earnings Report
Newpark Resources reported first quarter results with revenues of $176 million, operating income of $1.0 million, and net income of $2.5 million.
Key Takeaways
Newpark Resources reported a decrease in consolidated revenues by 2% sequentially to $176 million, driven by a decline in Industrial Solutions product sales, offset by growth in the Fluids Systems segment. The company achieved its strongest quarterly operating income and EBITDA since Q3 2019.
Consolidated revenues decreased 2% sequentially to $176 million.
Fluids Systems segment revenues improved 10% sequentially, driven by broad-based growth across several key markets.
Industrial Solutions segment revenues declined 31% sequentially to $35 million.
The company expects positive net income generation in the second quarter, benefitting primarily from sequential growth in Industrial Solutions revenues and profitability, combined with lower corporate office expenses.
Forward Guidance
The company expects positive net income generation in the second quarter, benefitting primarily from sequential growth in Industrial Solutions revenues and profitability, combined with lower corporate office expenses.
Positive Outlook
- Improving market outlook across all facets of the energy sector
- Ongoing portfolio actions to strengthen our Fluids Systems business
- Expected sequential growth in Industrial Solutions revenues and profitability
- Lower corporate office expenses
- Foundation for sustainable free cash flow generation going forward
Historical Earnings Impact
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Avg. Return Before/After Earnings
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