Newpark Resources Files Q3 2024 10-Q

TL;DR

NR: Q3 2024 10-Q filed. Check financials.

AI Summary

Newpark Resources Inc. reported its third quarter 2024 results for the period ending September 30, 2024. The company's filing covers financial data and operational updates for this period. Specific financial figures and operational details for the quarter are detailed within the report.

Why It Matters

This 10-Q filing provides investors and analysts with the latest financial performance and operational status of Newpark Resources Inc. for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently contain new, high-risk information.

Key Numbers

• 2024-09-30 — Q3 End Date (Reporting period for the 10-Q)
• 2024-01-01 — Year-to-Date Start Date (Beginning of the reporting period)
• 2023-12-31 — Previous Year End (For comparative financial analysis)
• 2024-07-01 — Q3 Start Date (Beginning of the current quarter)
• 2023-07-01 — Prior Year Q3 Start Date (For year-over-year comparison)

Key Players & Entities

• NEWPARK RESOURCES INC (company) — Filer
• 20240930 (date) — Conformed Period of Report
• 20241112 (date) — Filed as of Date
• 721123385 (company) — IRS Number
• DE (company) — State of Incorporation

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value NR New York Stock Exchange

Filing Documents

• nr-20240930.htm (10-Q) — 1007KB
• a2024q310qexhibit311.htm (EX-31.1) — 8KB
• a2024q310qexhibit312.htm (EX-31.2) — 8KB
• a2024q310qexhibit321.htm (EX-32.1) — 5KB
• a2024q310qexhibit322.htm (EX-32.2) — 5KB
• nr-20240930_g1.jpg (GRAPHIC) — 53KB
• 0000071829-24-000115.txt ( ) — 6202KB
• nr-20240930.xsd (EX-101.SCH) — 43KB
• nr-20240930_cal.xml (EX-101.CAL) — 102KB
• nr-20240930_def.xml (EX-101.DEF) — 196KB
• nr-20240930_lab.xml (EX-101.LAB) — 558KB
• nr-20240930_pre.xml (EX-101.PRE) — 400KB
• nr-20240930_htm.xml (XML) — 801KB

Financial Statements

Financial Statements 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Operations 3 Condensed Consolidated Statements of Comprehensive Income (Loss) 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 ITEM 4.

Controls and Procedures

Controls and Procedures 28 PART II OTHER INFORMATION 29 ITEM 1.

Legal Proceedings

Legal Proceedings 29 ITEM 1A.

Risk Factors

Risk Factors 29 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 ITEM 3. Defaults Upon Senior Securities 30 ITEM 4. Mine Safety Disclosures 30 ITEM 5. Other Information 30 ITEM 6. Exhibits 31

Signatures

Signatures 32 CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. We also may provide oral or written forward-looking statements in other materials we release to the public. Words such as "will," "may," "could," "would," "should," "anticipates," "believes," "estimates," "expects," "plans," "intends," and similar expressions are intended to identify these forward-looking statements but are not the exclusive means of identifying them. These forward-looking statements reflect the current views of our management as of the filing date of this Quarterly Report on Form 10-Q; however, various risks, uncertainties, contingencies, and other factors, some of which are beyond our control, are difficult to predict and could cause our actual results, performance, or achievements to differ materially from those expressed in, or implied by, these statements. We assume no obligation to update, amend, or clarify publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws. In light of these risks, uncertainties, and assumptions, the forward-looking events discussed in this Quarterly Report on Form 10-Q might not occur. For further information regarding these and other factors, risks, and uncertainties that could cause actual results to differ, we refer you to the risk factors set forth in Item 1A "Risk Factors" in this Quarterly Report on Form 10-Q and our Annual Report on Form 10-K for the year ended December 31, 2023. 1

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements Newpark Resources, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share data) September 30, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 42,907 $ 789 Receivables, net of allowance of $ 1,265 and $ 1,223 , respectively 54,561 42,818 Inventories 14,910 18,606 Prepaid expenses and other current assets 4,596 4,690 Current assets of discontinued operations — 290,321 Total current assets 116,974 357,224 Property, plant and equipment, net 179,690 165,544 Operating lease assets 10,481 11,192 Goodwill 47,461 47,283 Other intangible assets, net 10,864 12,461 Deferred tax assets 17,519 1,367 Other assets 6,617 1,582 Noncurrent assets of discontinued operations — 45,683 Total assets $ 389,606 $ 642,336 LIABILITIES AND STOCKHOLDERS' EQUITY Current debt $ 8,457 $ 6,319 Accounts payable 19,130 16,345 Accrued liabilities 23,572 21,026 Current liabilities of discontinued operations — 92,594 Total current liabilities 51,159 136,284 Long-term debt, less current portion 5,506 55,710 Noncurrent operating lease liabilities 9,957 10,713 Deferred tax liabilities 1,209 3,697 Other noncurrent liabilities 5,321 4,191 Noncurrent liabilities of discontinued operations — 16,377 Total liabilities 73,152 226,972 Commitments and contingencies (Note 10) Common stock, $ 0.01 par value ( 200,000,000 shares authorized and 111,669,464 and 111,669,464 shares issued, respectively) 1,117 1,117 Paid-in capital 632,165 639,645 Accumulated other comprehensive loss ( 2,766 ) ( 62,839 ) Retained earnings (deficit) ( 148,161 ) 10,773 Treasury stock, at cost ( 25,172,166 and 26,471,738 shares, respectively) ( 165,901 ) ( 173,332 ) Total stockholders' equity 316,454 415,364 Total liabilities and stockholders' equity $ 389,606 $ 642,336 See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements 2 Newpark Resources, Inc. Condensed Consolidated Statements of Operations (

View Full Filing

View this 10-Q filing on SEC EDGAR