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Jun 30, 2022
Newpark Resources Q2 2022 Earnings Report
Newpark Resources reported a net loss of ($0.08) per share and an adjusted net income of $0.01 per diluted share.
Key Takeaways
Newpark Resources reported a revenue of $194.1 million for the second quarter of 2022, a 10% sequential increase. The company's net loss was $7.8 million, or ($0.08) per share, while adjusted net income was $1.1 million, or $0.01 per diluted share. Consolidated revenues were $194 million, delivering Adjusted EBITDA of $13.3 million.
Consolidated revenues were $194 million for the second quarter of 2022, delivering Adjusted EBITDA of $13.3 million.
Industrial Solutions segment revenues improved by 38% sequentially to $49 million in the second quarter, benefitting from $19 million in second quarter product sales.
Fluids Systems segment revenues improved by 3% sequentially, as the seasonal pullback in Canada through Spring break-up was more than offset by solid revenue growth in U.S. land markets and a $5 million increase in the Gulf of Mexico.
Company expects revenues and income to strengthen and a return to positive operating cash flow generation in the third quarter, primarily benefitting from the stabilizing supply chain environment, the continued ramp-up of deferred projects in the EMEA region, and the seasonal recovery in Canada.
Forward Guidance
Company expects revenues and income to strengthen and a return to positive operating cash flow generation in the third quarter, primarily benefitting from the stabilizing supply chain environment, the continued ramp-up of deferred projects in the EMEA region, and the seasonal recovery in Canada.
Positive Outlook
- Stabilizing supply chain environment
- Continued ramp-up of deferred projects in the EMEA region
- Seasonal recovery in Canada
- Robust market outlook across all facets of the energy sector
- Ongoing portfolio actions to strengthen our Fluids Systems business
Historical Earnings Impact
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Avg. Return Before/After Earnings
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