Newpark Resources Inc (NR) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $-0.06 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $-0.15. The company posted revenue of $115.30 million in the period, compared to analysts expectations of $105.51 million. The company’s revenue was down -29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.03 EPS.
Many Wall Street Analysts have commented on Newpark Resources Inc. Newpark Resources Inc was Resumed by Credit Suisse to “Outperform” on Jul 18, 2016. Newpark Resources Inc was Upgraded by CapitalOne to ” Overweight” on Jun 15, 2016. Newpark Resources Inc was Upgraded by Credit Suisse to ” Outperform” on Jun 1, 2016.
Newpark Resources Inc closed down -0.15 points or -2.55% at $5.73 with 9,65,270 shares getting traded on Thursday. Post opening the session at $5.89, the shares hit an intraday low of $5.49 and an intraday high of $5.9 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
Newpark Resources Inc. is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems and Mats and Integrated Services. Fluids Systems segment provides drilling fluids solutions including technical drilling projects involving subsurface conditions such as horizontal directional geologically deep or deep water drilling to E&P customers in North America Europe the Middle East and Africa (EMEA) Latin America and Asia Pacific. The Mats and Integrated Services segment provides composite mat rentals well site construction and related site services to oil and gas customers at well production transportation and refinery locations in the United States. The Company manufactures DURA-BASE Advanced Composite Mats for use in its rental operations as well as for third-party sales.