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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, Inc. (NYSE: NR) will announce its second quarter 2022 results on August 2, 2022, after market close. A conference call will be held on August 3, 2022, at 10:00 a.m. Eastern to discuss the results. Participants can join by dialing 412-902-0030 or via the company’s website. A replay will be available until August 17, 2022. Newpark Resources specializes in providing environmentally-sensitive products and services across various sectors including oil and gas, renewable energy, and construction.
Newpark Resources (NYSE: NR) reported Q1 2022 revenues of $176.4 million, a slight decrease from $179.6 million in Q4 2021, but up from $141.2 million in Q1 2021. The company achieved a net income of $2.5 million, a turnaround from prior losses. The Industrial Solutions segment saw a 31% sequential revenue decline to $35 million, while the Fluids Systems segment experienced a 10% revenue increase to $141 million. Newpark also amended its U.S. asset-based loan facility to $175 million, extending maturity to May 2027.
Newpark Resources, Inc. (NYSE: NR) will release its first quarter 2022 results on May 3, 2022, after market close. A conference call to discuss these results is scheduled for May 4, 2022, at 10:00 a.m. Eastern. Live participation can be via phone or online at the company's website. A replay will be available until May 18, 2022. Newpark provides products and services to various industries such as oil and gas, renewable energy, and construction.
Newpark Resources, Inc. (NYSE: NR) announced the retirement of G. Stephen Finley from its Board of Directors after 15 years of service, effective post the upcoming Annual Meeting in May 2022. Finley, who has been crucial in the company's transformation, served as Chairman of the Audit Committee from 2009 to 2021. Under his leadership, Newpark navigated oil and gas industry downturns and reduced debt while expanding its presence in other sectors. The company thanked Finley for his invaluable contributions during his tenure.
Newpark Resources, Inc. (NYSE: NR) appointed Claudia M. Meer as an independent Board member, effective March 1, 2022. This decision aligns with the company's commitment to enhancing Board diversity and is part of the ESG Committee's strategy. Claudia brings significant experience in clean energy, corporate finance, and M&A, previously serving as Chief Investment Officer at AlphaStruxure. Her appointment aims to guide Newpark through the evolving energy transition, strengthening its focus on sustainable technology and services.
Newpark Resources (NYSE: NR) announced a Cooperation Agreement with Bradley L. Radoff, leading to the appointment of Donnie Young to its Board of Directors on March 1, 2022. As part of the agreement, Newpark will nominate a diverse candidate with industry expertise for election at the 2022 Annual Meeting to replace an incumbent director. The Board's size will increase by one with Young's addition, highlighting the company's commitment to engaging with shareholders. Young brings significant experience from various leadership roles in private equity and industrial sectors, indicating potential future value enhancement.
Newpark Resources reported fourth quarter 2021 revenues of $179.6 million, up from $151.8 million in Q3 2021 and $129.7 million in Q4 2020. Despite the increase, the company faced a net loss of $3.7 million compared to a loss of $10.5 million in the previous quarter. The Fluids Systems segment saw revenues rise 18% sequentially, while the Industrial Solutions segment also increased 18%. A restructuring plan was announced, which may incur pre-tax charges between $4 million and $8 million for exiting blending operations.
Newpark Resources, Inc. (NYSE: NR) will release its fourth quarter 2021 results on February 17, 2022, after market close. A live conference call is scheduled for February 18, 2022, at 10:00 a.m. Eastern, to discuss the results. The event can be accessed via phone or online, and a replay will be available until March 4, 2022. Newpark is a diversified supplier providing products and services across various industries, including oil and gas and renewable energy.
Newpark Resources, Inc. (NYSE: NR) announced a non-binding Memorandum of Understanding with TAQA to establish a joint venture in Saudi Arabia. This venture will focus on providing oilfield chemicals, drilling fluids, and services, aligning with the Kingdom's demand for cleaner energy. TAQA's CEO highlighted the partnership as a pivotal step in enhancing their capabilities for integrated drilling services. Newpark will support this effort by boosting specialty chemicals R&D and manufacturing in the region.
Newpark Resources (NYSE: NR) announced the repayment of $39 million in convertible notes and the acquisition of Lentzcaping, Inc. for approximately $14 million. This acquisition aims to enhance Newpark's service offerings in the Northeast U.S. utilities market, where Lentzcaping has been a key partner. The deal is expected to close in December 2021, subject to customary conditions. CEO Paul Howes emphasized the importance of maintaining liquidity and creating long-term shareholder value through strategic initiatives and partnerships.
