Newpark Resources reports Q2 EPS 9c, consensus 8c

Reports Q2 revenue $179M, consensus $169.33M. “We delivered a strong second quarter performance, as Industrial Solutions segment revenue increased nearly 40% on an organic basis versus the prior-year period,” stated Matthew Lanigan, President and CEO of Newpark. “Industrial Solutions revenue growth was supported by a combination of fleet expansion and a continued shift in customer preference from legacy, wood-based mats toward our DURA-BASE composite-based matting system. Product sales increased to an all-time quarterly record in the second quarter, while rental revenue increased 9% versus the prior-year period.