NEWPARK RESOURCES Announces Positive Second Quarter Earnings Results for FY2023
August 7, 2023
☀️Earnings Overview
On August 2 2023, NEWPARK RESOURCES ($NYSE:NR) reported their financial results for the quarter ending June 30 2023. Total revenue was USD 183.3 million, a 5.6% decrease compared to the same quarter of the previous year. However, net income increased significantly by 121.9%, amounting to USD 1.7 million year over year.
Market Price
NEWPARK RESOURCES recently announced their financial results for the second quarter of FY2023 which were generally positive. On Wednesday, NEWPARK RESOURCES stock opened at 5.2 and closed at 5.3, a drop of 5.4% from the previous day’s closing price of 5.6. Despite this slight decrease, the company reported improved earnings and increased revenue compared to the previous year. The company is invested in a wide range of businesses, primarily focused on oil and gas exploration, production and waste management services. They have seen strong growth in oil and gas production, driven by increased customer demand and improved efficiency.
Additionally, their waste management services have seen success due to increased government regulations and improved safety protocols. This is largely attributed to their cost-saving initiatives, which have helped to reduce their overhead costs and increase their profitability. The company has reported improved earnings and increased revenue, while maintaining a strong balance sheet and reducing costs. This paints a positive picture for the future of the company and its shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Newpark Resources. More…
| Total Revenues | Net Income | Net Margin |
| 828.3 | -8.28 | 1.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Newpark Resources. More…
| Operations | Investing | Financing |
| 34.84 | 58.84 | -94.96 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Newpark Resources. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 664.95 | 250.82 | 4.77 |
Key Ratios Snapshot
Some of the financial key ratios for Newpark Resources are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.9% | 9.0% | 1.3% |
| FCF Margin | ROE | ROA |
| 0.1% | 1.7% | 1.0% |
Analysis
GoodWhale recently conducted a wellbeing analysis of NEWPARK RESOURCES. We assigned this company a medium risk rating, which indicates that there is a moderate chance that investors could experience losses associated with investing in the company. Our analysis of NEWPARK RESOURCES’ income sheet and balance sheet revealed two risk warnings that could negatively affect the company’s financial performance. We urge potential investors to become registered users in order to access information about these risks and make an informed decision about whether or not to invest. More…
Peers
Newpark Resources Inc is an American oil and gas services company, with operations in the United States, Canada, Mexico, Brazil, and Angola. The company’s main competitors are Solaris Oilfield Infrastructure Inc, Magseis Fairfield ASA, Aker Solutions ASA, and Schlumberger.
– Solaris Oilfield Infrastructure Inc ($NYSE:SOI)
Solaris Oilfield Infrastructure Inc. is a leading provider of comprehensive solar-powered solutions designed to increase operational efficiency and safety while reducing environmental impact for the oil and gas industry. The company’s market cap is $423.77 million as of 2022 and its ROE is 6.5%. Solaris provides a full suite of solar-powered products and services, including power generation, storage, distribution, and monitoring, to oil and gas operators across the globe. In addition to reducing greenhouse gas emissions, Solaris’ solutions also help operators reduce their dependence on fossil fuels, lower their operating costs, and improve their safety and environmental performance.
– Magseis Fairfield ASA ($LTS:0QWE)
Magseis Fairfield ASA is a Norwegian seismic company that provides offshore seismic services to the oil and gas industry. The company has a market cap of 2.15 billion as of 2022 and a return on equity of -8.56%. Magseis Fairfield ASA is a provider of marine seismic data acquisition services with a focus on the acquisition of high quality 3D seismic data.
– Aker Solutions ASA ($LTS:0QXP)
Aker Solutions ASA is a Norwegian oilfield services company. It is active in the exploration and production, oilfield services, and shipping industries. The company has a market capitalization of 19.31 billion as of 2022 and a return on equity of 10.21%. Aker Solutions ASA is a provider of oilfield services, including engineering, construction, and project management. The company also provides shipping services and operates a fleet of oil tankers.
Summary
NEWPARK RESOURCES reported their second quarter results for FY2023 on August 2, showing total revenue of USD 183.3 million, a 5.6% decrease from the same quarter of the previous year. Net income increased by 121.9% to USD 1.7 million year over year. Despite this, the stock price moved down the same day. Investors should take note of this discrepancy and consider further analysis of the company’s financials, including revenue and expenses, to determine the potential for further growth and the risk of further stock price declines.
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