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Sep 30, 2022
Newpark Resources Q3 2022 Earnings Report
Reported a net loss of ($0.26) per share, but adjusted net income was $0.06 per diluted share.
Key Takeaways
Newpark Resources reported a 13% sequential increase in consolidated revenues to $220 million in Q3 2022. Adjusted EBITDA was $19.6 million, and Adjusted EPS was $0.06 per diluted share. The company is divesting certain businesses to simplify operations and generate cash.
Consolidated revenues increased 13% sequentially to $220 million.
Adjusted EBITDA of $19.6 million was achieved.
Adjusted EPS of $0.06 per diluted share was achieved.
Pending divestitures are expected to provide approximately $80 million in cash proceeds.
Forward Guidance
The company expects pending divestitures will provide cash proceeds of approximately $80 million within the next quarter.
Positive Outlook
- Cash proceeds of approximately $80 million from pending divestitures.
- Simplification of the business.
- Transition to a more agile and capital-light model.
- Ability to accelerate investment in higher returning opportunities.
- Return value to shareholders through share repurchases.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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