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Sep 30, 2023
Newpark Resources Q3 2023 Earnings Report
Newpark Resources reported strong third quarter results driven by commercial growth and operational excellence initiatives.
Key Takeaways
Newpark Resources reported a net income of $7.7 million, or $0.09 per diluted share, on total revenue of $198.5 million. The company's Adjusted EBITDA was $22.3 million, representing 11.2% of total revenue. The Industrial Solutions segment delivered record third quarter revenue, while the Fluids Systems segment saw revenue decline but improved Adjusted EBITDA and margin.
Net income increased to $7.7 million, or $0.09 per diluted share.
Adjusted EBITDA increased to $22.3 million with a margin of 11.2%.
Industrial Solutions segment achieved record third quarter revenue with a 12% increase.
Fluids Systems segment revenue decreased by 16%, but Adjusted EBITDA margin improved.
Forward Guidance
For the fourth quarter 2023, Newpark anticipates Industrial Solutions segment revenue in a range of $54-$60 million, Fluids Systems segment revenue in a range of $110-$120 million, total Adjusted EBITDA in a range of $17-$21 million, and total Free Cash Flow in a range of $12-$20 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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