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Sep 30, 2024
Newpark Resources Q3 2024 Earnings Report
Newpark Resources' Q3 2024 results were impacted by customer project shifts, unfavorable weather, and facility maintenance.
Key Takeaways
Newpark Resources reported revenue of $44.2 million and operating income from continuing operations of $1.2 million. The company's income from continuing operations was $14.9 million, including a $14.6 million tax benefit. Adjusted EBITDA from Continuing Operations was $7.5 million.
Completed the sale of the equity interests in substantially all of the Company’s Fluids Systems segment to SCF Partners.
Ended the quarter with $43 million in cash, $14 million in debt, and $56 million in available liquidity under the ABL credit facility.
Industrial Solutions revenue decreased due to higher summer seasonality impacts, key customers shifting priorities, and hot weather.
Expect revenues to meaningfully improve in the fourth quarter of 2024, benefitting from higher customer rental project activity and product sales.
Revenue by Segment
Forward Guidance
Newpark anticipates Industrial Solutions segment revenue in a range of $217 million to $223 million, Adjusted EBITDA in a range of $77 million to $81 million, and total capital expenditures in a range of $33 million to $35 million for the full year 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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