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Newpark Resources, Inc. (NYSE: NR) provides essential oilfield services through its specialized drilling fluids and industrial site solutions. This news hub offers investors and industry professionals direct access to official updates about operational developments, financial disclosures, and strategic initiatives.
Discover comprehensive coverage of NR's activities including earnings reports, technology innovations in fluid systems, and progress within renewable energy partnerships. Our curated collection ensures you stay informed about safety advancements like the Dura-Base™ mat system deployments and regulatory compliance achievements.
Key updates span drilling fluid formulations for complex well projects, infrastructure contracts for energy transition projects, and sustainability initiatives. Bookmark this page for real-time access to SEC filings, executive commentary, and market positioning updates from North America's third-largest drilling fluids provider.
NPK International (NYSE: NPKI) reported strong Q4 2024 results with revenues of $57.5 million, up 24% year-over-year, and operating income of $11.6 million. Q4 highlights include record specialty rental revenue of $42 million and improved operating margin of 20.2%.
For full-year 2024, the company achieved revenues of $217.5 million (+5% YoY) and operating income of $32.4 million. The company maintained a strong balance sheet with $18 million in cash and $8 million in total debt as of December 31, 2024.
Looking ahead, NPK provided 2025 guidance projecting revenues between $230-250 million and Adjusted EBITDA of $60-70 million, representing 10% and 18% growth respectively at midpoint. The company plans capital expenditures of $35-40 million, with 80% allocated to rental fleet expansion.
Newpark Resources has announced its rebranding to NPK International, effective immediately. The company will begin trading on the NYSE under the new ticker symbol NPKI starting December 19, 2024, replacing the current 'NR' symbol.
The rebranding reflects NPK's strategic focus as a leading worksite access solutions provider, serving global infrastructure customers in utility and energy markets. The company has launched a new corporate website at www.npki.com, highlighting its capabilities and commitment to sustainable project support.
As stated by CEO Matthew Lanigan, NPK International will maintain its vertically integrated, pure-play approach while prioritizing return-driven capital allocation to maximize shareholder value. The company aims to provide superior solutions emphasizing durability, cost-efficiency, compliance, and sustainability.
Newpark Resources (NYSE: NR) reported third quarter 2024 results with revenue of $44.2 million and operating income from continuing operations of $1.2 million. The company completed the sale of its Fluids Systems segment on September 13, 2024, receiving $70 million in initial cash proceeds. Q3 performance was impacted by customers shifting priorities from transmission to renewable projects, weather conditions, and facility maintenance. The company ended Q3 with $43 million in cash and $14 million in debt. October set a new monthly record for rental volume, indicating strong Q4 rental revenues ahead.
Newpark Resources (NYSE: NR) has scheduled its third quarter 2024 earnings conference call and webcast. The company will release Q3 2024 results after U.S. markets close on Thursday, November 7, 2024, followed by a conference call on Friday, November 8, 2024, at 9:30 a.m. ET. The call will include a financial results review and Q&A session. A webcast and presentation materials will be available on the company's investor relations website. The replay will be accessible through November 15, 2024.
SCF Partners has acquired Newpark Fluids Systems (NFS) from Newpark Resources Inc. (NYSE: NR). NFS is a global provider of drilling & completion products and technical services for the oil & gas and geothermal industries. The acquisition aims to accelerate NFS's global strategic growth plan under a new board with significant energy experience. David Paterson, NFS's CEO, expressed enthusiasm about the partnership, expecting it to create value for customers and employees. Deviyani Misra-Godwin, Director at SCF Partners, highlighted NFS's leading position in the drilling and completions fluids space, its global footprint, safety performance, and technology portfolio as key factors for future success in the evolving energy landscape.
Newpark Resources (NYSE: NR) has completed the sale of its Fluids Systems segment to SCF Partners for a net consideration of $56 million. The transaction includes a base sale price of $127.5 million, adjusted for working capital, liabilities, and debt. This strategic move transforms Newpark into a pure-play specialty rental and services business focused on worksite access and critical infrastructure markets.
Key financial outcomes include:
- $70 million cash proceeds at closing
- $5 million interest-bearing seller note receivable
- Approximately $40 million in total cash post-transaction
- Reduction of ABL Facility from $175 million to $100 million
Newpark plans to use the proceeds for investments in its composite matting fleet, inorganic growth, and share buybacks. The company aims to rebrand and pursue industry re-classification to align with its new strategic focus beyond oilfield services.
Newpark Resources (NYSE: NR) reported Q2 2024 earnings with net income at $8.0M ($0.09 per share), adjusted net income at $10.4M ($0.12 per share), and adjusted EBITDA up 18% to $23.4M. Total revenue was $179M, a slight decrease from $183.3M in Q2 2023.
Industrial Solutions segment saw a nearly 40% increase in revenue, reaching $66.8M, while the Fluids Systems segment's revenue declined 17% to $112.2M. Management highlighted strong free cash flow at $21.9M and net debt reduced to $23M with a leverage ratio of 0.3x.
Despite a challenging environment, Newpark maintained its 2024 full-year guidance for the Industrial Solutions segment, emphasizing its strategic focus on high-margin markets and capital efficiency. No share repurchases occurred in H1 2024 due to trading blackout restrictions associated with the Fluids Systems segment sale process, which is still ongoing.
Newpark Resources (NYSE: NR) has announced its second quarter 2024 results conference call and webcast date. The company will release its Q2 2024 results after U.S. markets close on Monday, August 5, 2024. A conference call to review the financial results and conduct a Q&A session is scheduled for Tuesday, August 6, 2024, at 9:30 a.m. ET.
Investors can access the webcast and presentation materials through the company's Investor Relations website. For those participating via teleconference, domestic callers can dial 800-267-6316, while international callers should use 203-518-9783. The Conference ID is NRQ224. A replay of the teleconference will be available until August 13, 2024.
Newpark Resources, Inc. reported strong financial results for the first quarter of 2024, with a 30% increase in net income and adjusted net income reaching $8.9 million. Despite a decline in revenues, the company saw improvements in operating income and EBITDA margins. Management is focused on asset optimization and operational excellence to drive growth in specialty rental markets. The company is undergoing a strategic review of its Fluids Systems segment to enhance profitability. Newpark's financial performance remains solid with a strong balance sheet and liquidity position.
