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.
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.
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