Fluids q3 snapshot: $24.2 m LOSS, -14.3% margins. Cash on hand: substantially lower, current debt: substantially higher. Just when you think it can’t get any worse, it really does. You functional illiterates need a business class on how to run a profitable mud business. D-mb and D-mber V2.
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The stench of Vollands and Howes continues to permeate around Newpark fluids. All of the “getting younger era” has cost NR fluids many millions of dollars, they will never recover. Lots of wannabe’s, few actual producers. If you can’t make money in the mud biz today, you are either d-mb or completely illiterate. Unfortunately, starting in the Woodlands, fluids has many in that category. Same ending as Newpark 1/Milpark.