Newpark Resources (NYSE:NR) Full Year 2022 Results
Key Financial Results
Revenue: US$815.6m (up 33% from FY 2021).
Net loss: US$20.8m (loss narrowed by 18% from FY 2021).
US$0.23 loss per share (improved from US$0.28 loss in FY 2021).
1 reply
Facts to ponder: Fluids $15.5m LOSS fye 2022 with a -2.5% margin. Only to be surpassed by the Corp Ofc overhead which posted a $29.3m LOSS fye 2022 on the books. Not to be outdone, the GOM fluids posted a whopping $43.2m loss fye 2022. Howes, Vollands and Smith were responsible for the GOM, in fact they were outright told: “the greatest revenues often contribute to the greatest losses”. Ambar, Anchor and many others went down this same path in the GOM, which led to their demise. Needless to say, they let their inflated egos form their id--tic business decisions along with the debacle in Brazil. The Board members left should resign over these pathetic decisions.