Newpark Resources Reports Second Quarter 2020 Results

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Go back to Newpark Resources Reports Second Quarter 2020 Results

Newpark Resources (NR) Misses Q2 EPS by 10c, Revenues Miss

August 3, 2020 4:49 PM EDT

Newpark Resources (NYSE: NR) reported Q2 EPS of ($0.29), $0.10 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $101.95 million versus the consensus estimate of $110.15 million.

Second quarter 2020 results include the impact of the following:

$8.3 million of pre-tax charges for write-downs of inventory in the Fluids Systems segment ($6.5 million after-tax);$2.8 million of pre-tax charges for severance costs ($2.2 million after-tax), including $2.6 million in the Fluids Systems segment and $0.2 million in the Corporate office;$0.8 million of pre-tax charges for facility closures and related exit costs in the Fluids Systems segment ($0.6 million... More