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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.
Newpark Resources (NYSE: NR) will release its Q1 2023 earnings on May 2, 2023, after market close. A conference call is scheduled for May 3, 2023, at 9:30 a.m. Eastern, allowing investors to listen live or access a replay until May 17, 2023. The call can be joined by phone or over the Internet through Newpark's website. The company provides a range of services to industries such as oil and gas exploration and renewable energy. More details can be found in the full PR.
Newpark Resources (NR) reported fourth-quarter 2022 revenues of $225.2 million, a rise from $219.9 million in Q3 2022 and $179.6 million in Q4 2021. Net income stood at $9.0 million, or $0.10 per diluted share, contributing $2.4 million from divestitures. Adjusted Net Income grew 27% sequentially to $0.07 per diluted share. The Industrial Solutions segment thrived with $57.5 million in revenue, while Fluids Systems saw a slight decline to $167.7 million, though operating income improved significantly. The company reduced debt by $47 million and plans to return value to shareholders through share repurchases.
Newpark Resources, Inc. (NYSE: NR) will release its fourth quarter 2022 results on February 16, 2023, after market close. The conference call for discussing the earnings will occur on February 17, 2023, at 9:30 a.m. Eastern. Stakeholders can access the call via phone or live stream from the company's website. A replay will be available until March 3, 2023, for those unable to attend live. Newpark is known for providing environmentally-sensitive products and services across various industries, including oil and gas and renewable energy.
Newpark Resources (NR) has successfully completed its exit from the Gulf of Mexico market through two key transactions. The company sold its Gulf of Mexico completions fluids assets for approximately $6 million and has entered a seven-year sublease for a drilling fluids facility, anticipating an additional $25 million cash generation. The divestiture strategy is projected to raise over $100 million in total cash, with $80 million expected by Q4 2022. Furthermore, 4.4 million shares were repurchased, enhancing shareholder value.
Newpark Resources (NYSE: NR) announced the retirement of Chairman Anthony J. Best following the upcoming Annual Meeting in May 2023. After his departure, the Board will reduce its size from eight to seven directors. In a separate decision, non-executive members' compensation, including the Chairman's, will be reduced by about 15% starting January 1, 2023. CEO Matthew Lanigan praised Best for his contributions during his nine years on the Board. Newpark focuses on providing environmentally-sensitive products and services across various industries.
Newpark Resources, Inc. has completed the sale of its Excalibar mineral grinding business and a blending facility in Conroe, Texas. These divestitures are expected to generate nearly $80 million in net cash, including $63 million received at closing. The proceeds will be utilized for debt reduction, investments in higher returning opportunities, and share repurchases.
The company continues to supply environmentally-sensitive products across various industries.
Newpark Resources, Inc. (NYSE: NR) reported its third-quarter results for 2022, showing total revenues of $219.9 million, up from $194.1 million in Q2 2022 and $151.8 million in Q3 2021. However, the company faced a net loss of ($24.6 million) or ($0.26 per share), largely due to $29.9 million in pre-tax impairment charges. Adjusted net income stood at $5.2 million, equating to $0.06 per diluted share. The firm is divesting certain assets, anticipating $80 million in cash proceeds to reduce debt and enhance shareholder returns.
Newpark Resources (NYSE: NR) announced a definitive agreement to sell its Excalibar mineral grinding business to Cimbar Resources for approximately $66 million in net cash. Excalibar had about $65 million in net capital employed as of September 30, 2022. The transaction is aligned with Newpark's strategy to streamline its Fluids Systems business. Additionally, a long-term barite supply agreement will be established with Cimbar for four years post-transaction. Proceeds are intended for corporate purposes, including debt reduction and potential share repurchases.
Newpark Resources has announced the release of its third quarter 2022 earnings on November 1, 2022, after market close. A live conference call will follow on November 2, 2022, at 9:30 a.m. Eastern. Investors can join the call by dialing 713-481-1320 or online at www.newpark.com. Replay options will be available until November 16, 2022. Newpark Resources provides environmentally-sensitive products and services across various industries including oil and gas, renewable energy, and construction.
Newpark Resources, Inc. (NR) reported a net loss of $7.8 million ($0.08 per share) for Q2 2022, contrasting with a net income of $2.5 million in Q1 2022. Total revenues rose to $194.1 million, a 10% increase from the prior quarter. Adjusted net income was $1.1 million ($0.01 per share). The Industrial Solutions segment revenue surged 38% sequentially, while the Fluids Systems segment saw a slight 3% revenue growth. Operating activities faced cash usage of $26 million. The company anticipates improved revenues and a return to positive cash flow in Q3, alongside potential cash generation of over $70 million from divestitures.
