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Jun 30, 2023
Newpark Resources Q2 2023 Earnings Report
Announced results for the second quarter ended June 30, 2023.
Key Takeaways
Newpark Resources reported Q2 2023 results with a net income of $1.7 million, or $0.02 per diluted share, and adjusted net income of $6.8 million, or $0.08 per diluted share. The company's adjusted EBITDA was $19.8 million, representing 10.8% of total revenue. The Industrial Solutions segment saw revenue of $48.1 million, while the Fluid Systems segment generated $135.2 million in revenue.
Industrial Solutions segment revenue was $48.1 million, a decrease of 2% year-over-year.
Fluid Systems segment revenue was $135.2 million, a decrease of 7% year-over-year.
Net Income was $1.7 million, or $0.02 per diluted share.
Adjusted EBITDA was $19.8 million, an increase of 49% year-over-year.
Forward Guidance
For the third quarter 2023, Newpark anticipates Industrial Solutions segment revenue in a range of $52-$58 million, Fluids Systems segment revenue in a range of $120-$130 million, total Adjusted EBITDA in a range of $17-$22 million, and total Free Cash Flow in a range of $15-$25 million.
Positive Outlook
- Industrial Solutions segment revenue in a range of $52-$58 million
- Fluids Systems segment revenue in a range of $120-$130 million
- Total Adjusted EBITDA in a range of $17-$22 million
- Total Free Cash Flow in a range of $15-$25 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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