NPK International reports Q2 adjusted EPS 11c, consensus 9c

Reports Q2 revenue $68.2M, consensus $59.69M. “Our disciplined execution once again resulted in strong organic growth in the second quarter, highlighted by rental revenue growth of 34% to $32 million, another single quarter record,” stated Matthew Lanigan, President and CEO of NPK. “The strong demand we experienced late in the first quarter continued through the second quarter, driven by ongoing strength in our core utility and critical infrastructure markets, with notable strength in large scale utility projects that has the added benefit of driving longer contract durations and increased visibility. To meet the concurrent surge in demand on several large-scale projects, we leveraged our rental fleet and logistics capabilities, as well as our third-party network to successfully deliver for our customers and highlight our position as one of the few providers with the ability to scale rapidly and successfully execute during even the most dynamic market environments.”