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Newpark Resources ( (NR) ) has provided an update.
Newpark Resources, Inc. completed the sale of its Fluids Systems segment to SCF Partners for a base price of $127.5 million, subject to adjustments. The pro forma financials assume the sale occurred on January 1, 2021, for comparative purposes. Newpark will recognize a pre-tax impairment charge of approximately $200 million due to the carrying value exceeding the purchase price. The actual financial impact may vary as the estimates are based on several assumptions. The unaudited pro forma financials, which include the reclassification of Fluids Systems as discontinued operations, are preliminary and for illustrative purposes only.
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