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Dec 31, 2023
Newpark Resources Q4 2023 Earnings Report
Newpark Resources' Q4 2023 results were announced, showing a decrease in revenue and adjusted net income compared to the prior year period.
Key Takeaways
Newpark Resources reported a net loss of $0.5 million for Q4 2023, with a decrease in revenue to $167.8 million. Adjusted EBITDA was $16.2 million, and the company repurchased $6 million of common equity. The strategic review of the Fluids Systems business is ongoing, and Industrial Solutions segment revenue and Adjusted EBITDA guidance for 2024 were introduced.
Industrial Solutions segment revenue decreased by 19% to $46.5 million.
Fluids Systems segment revenue decreased by 28% to $121.4 million.
Net loss was $0.5 million, or $0.01 per share.
Adjusted EBITDA was $16.2 million, with a margin of 9.7%.
Forward Guidance
Newpark anticipates Industrial Solutions segment revenue in a range of $230 million to $240 million and segment Adjusted EBITDA in a range of $80 million to $85 million for the full year 2024.
Positive Outlook
- Industrial Solutions segment revenue in a range of $230 million to $240 million for the full year 2024
- Industrial Solutions segment Adjusted EBITDA in a range of $80 million to $85 million for the full year 2024
Historical Earnings Impact
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Avg. Return Before/After Earnings
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