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Sep 30, 2021
Newpark Resources Q3 2021 Earnings Report
Reported third quarter 2021 results, showing revenue growth and continued challenges from Hurricane Ida and COVID-19.
Key Takeaways
Newpark Resources reported a net loss of $10.5 million, or ($0.11) per share, for the third quarter of 2021. Total revenues for the third quarter of 2021 were $151.8 million compared to $142.2 million for the second quarter of 2021 and $96.4 million for the third quarter of 2020.
Consolidated revenues improved 7% sequentially to $152 million.
Industrial Solutions business performance continues to demonstrate the value of diversification efforts.
Fluids Systems segment revenues improved 11% sequentially, primarily driven by strength in Canada and other international markets.
Used $14 million of cash in the third quarter to fund a net working capital increase.
Forward Guidance
Newpark has scheduled a conference call to discuss third quarter of 2021 results and its near-term operational outlook, which will be broadcast live over the Internet, on Wednesday, November 3, 2021 at 10:00 a.m. Eastern Time / 9:00 a.m. Central Time.
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