Newpark Resources reported a sequential increase in consolidated revenues and a reduction in total debt. The Industrial Solutions segment revenues and operating margin increased. The Fluids Systems segment also saw a revenue increase, though it posted an operating loss due to charges related to exiting Brazil.
Consolidated revenues increased 35% sequentially to $129.7 million.
Industrial Solutions segment contributed $50 million in revenues with a 19% operating margin.
Fluids Systems segment revenues improved 17% sequentially to $79 million.
Generated $15 million of cash from operations, leading to a $15 million reduction in total debt.
No specific forward guidance was provided in the release.
Analyze how earnings announcements historically affect stock price performance