What do all the Mason road delusional blowhards have to say now? You want to bet q4 doesn't look much better? Piss poor management means piss poor results
31 replies (most recent on top)
I agree Katy
Oil 10-19-2016 $52.00 Oil 11-14-2016 $44.00 If this $45-50 keeps up for 2 more months- Rig count will start dropping in apprx 3 no more than 4 months.
Doors still open🤓.
Still losing money daily
We'll talk has gotten quite what's going on. Joe
SO I guess U have to say right, well I will say it for you,Trump LOL Now let's go to work.😄😄😄😄😄
OK now we will be on our way back up D Trump in office .
I would Love to know where you getting your numbers from they are wrong , number comming up
New NP motto: "Still losing money daily".
Doors still open and check still cashing,
Evo $$ - nothing but smoke and mirrors
HA HA HA I bet U Know. 😳😳😳😳
Hey John Boy~how were those Evolution revenues in Q3?
I Know that want happen,go have a drink on NP . Katy
See how long you laugh when those checks bounce like rubber balls. Now go lift you F-350 another 16-inches and add a chrome gas cap for your deer lease.
As long as the Doors stay open and I keep getting a check we still have a chance,LOL John Boy Right 🤑🤑🤑🤑🤑
Anon-hate to burst your bubble but the numero uno reason for Newpark's downfall is because of John Boy/Oxford boy wonder. He continues to make bad decision after bad decision and it continues to show up in the quarterly financials. The ONLY reason NP has the current market share is simply because they GIVE IT AWAY! -10% net operating margin tells all you need to know. Corporate op-ex has never been addressed either. Glass Palace is simply out of touch with reality. What about the supposed settlement over the mud engineers lawsuit? Paulie sure didn't elaborate on that did he. More to come later....
How's that $2b plan coming along John Boy?
Bean counter should get back to counting beans, no matter how much you cut payroll or employees you cannot and will never make up the losses that NDF has. Many people have taken those 25% pay cuts or lost their jobs and what has that actually done for NDF? The bean counters are what's wrong with NDF to begin with, little to no knowledge of the industry but yet trying to run the business like they do.
Hello anyone home where's the Strom
GE has took over 65% of BAKER HUGE, WOW who next?????
You don't get it, LOL, Doors still open and still getting a pay check right now that's all I care about. Joe 😎😎😎
Since Q4 will have projected losses of >$7m, this is what Paulie should do immediately: cut ALL salaries 15% immediately with personnel over $200k taking a 25% pay cut. Tough times require tough measures. Cut overhead at glass palace corresponding to reduced rig count. Man up Paulie 💪💪💪
Hey LOL. Anyone with your excellent spelling skills and sentence structure should be able to get a job as a kindergarten school teacher. Not to worry . May want to get that Resume ready.
Wow Q3 was more than what NP hopeing to be dam I wounder what kind of pay cut they are going to come with, Look like they going to cut me right out the door. LOL
Sales Analysis-- Sales for 2013 - $1.042B Selling , G&A- $89.4M Sales for 2014- $1,118B Selling,G&A -- $110.8M Sales for 2015 - $676.8 Selling , G&A- $98.6M (Drop in Sales of $442M but Only $12M drop in Selling and G&A expense). For 2016 thru 1st 3 Quarters- Sales at $334.4M plus 4th Q estimate of $116M for total 2016 Sales of $450.4M and Selling and G&A so far of $66.6M with $20M for 4th Q for a total of $86.6M. From 2015 to 2016 Sales drop ANOTHER $226M but Selling,G&A only drops $12M. And thru all of this Corporate Overhead Expense is still not in check either. From 2014 final sales number to Projected 2016 sales number the SALES number is DOWN 59%. Guess ph happened to notice this and decided to put his Cluny Court Lot in Carlton Woods which he purchased in 4-2014 ( great timing as in 2-3 months before the Oilfield started its downward move) for $800K back on the market in Dec 2015. 11 months and No takers and guessing it will probably be late spring 2017 before any significant activity in the high end market in The Woodlands unless oil jumps to $70-80 ( under $49 right now) in the near future. Meanwhile owner gets to pay the Yearly taxes of apprx $8.5K and the yearly $3.1K association fee for the Dirt till it sells. No problem, again all public record. May JUST have to drop that $825K asking price and try to negotiate that 6% commission to the Kink team. With $40B in losses for NR thru 9 months in 2016- guessing Bonuses may be hard to find in that March 2017 Paycheck. Could be wrong though, who knows. Just as a side note, from what i hear there is another Lot available in Carlton Woods that is apprx 10,000 sq ft larger and is being offered for $725K and I think owner would probably be happy to get $650K. Believe it may, also , have an advantage of being on the golf course. Anyway, the beat goes on. As an FYI- Exxon (also in the Woodlands as a matter of fact) is getting Heavy Pressure from the SEC (everyone's favorite act) to write down 4.6 BILLION (yes BILLION) of oil reserves before year end. That ought to be interesting to watch till the results are tabulated. Oil field wise and real estate wise. And SWN (also in The Woodlands) was named as defendant in a Class Action Lawsuit today. Things just keep getting more interesting and unfortunately costly many times.
-10.1% net operating margin in fluids. All I heard was Q3 going to be better, will see a turnaround. Blah blah blah. More brilliance by the Scotsman and his British counterpart. How much longer will it take Howes and the Board to admit their mistakes? John Boy and his young buck wannabes ain't gotta clue. Look at the trend-it ain't pretty. Guess us old fu**ers knew how to make NR money-and a lot of it. Yet to see it from John Boy and his young guns. Food for thought
Wood mats are great!
Concerning the question concerning the number of employees at Newpark from the previous posting, I believe the number of about 1980 is pretty correct as of the end of 2015. Guessing, Probably in the 1700-1900 range as of today. But let's look at some other figures. Over at NOV (National Oilwell Varco) they had about 44,000 employees as of the end of 2015. Guessing 40-42 K employees as of now. The President-CEO (Williams) of NOV made about $895K in salary and bonus in 2015. PH, his equivalent at NR, made $890K. The NOV- CFO (Bayardo) made $234K for the 5 months he worked or about $560K annually. GP, his equivalent at NR, made $434K in 2015. The NOV- VP and General Counsel (Weinstock) made $533K in 2015. MA , his equivalent at NR, made $451K in 2015. All public information. All i know is it is probably easier to manage 2 people at the table than 40 people at the same table. But, then again, maybe not. NR now has adjusted net loss of $40.6 Million for the first 9 months of 2016. Some noteworthy sales figure analysis to follow Later covering the last 3 years.
Let's look at these 3rd Q results. Total Sales $104.5M (Down nearly $11M from last Qrt which was horrible, at best) with a Cost of Revenues of $99.3M which leads to a Profit of ONLY $5.2M ( a 5% margin) AND this is before ANY EXPENSES, which in this Quarter is $21.7M ( AND this Expense number is GREATER than LAST Quarter that had MORE Revenue ). Do you realize how terrible these numbers really are? Any Company of this size to survive/and be profitable must get this margin to at LEAST 20% or Preferably 30% OR CUT a WHOLE LOT of EXPENSES. ANYONE can give the COMPANY product away at 5% margin but HOW does One Pay for the OVERHEAD in a company like NR. Simple, you don't- YOU LOSE $$$$ On the topic of Overhead, Corporate Overhead it is only down apprx 10% in the last year while Sales/Revenues are DOWN apprx 32%. Hmm? And mentioning giving the Company product away and/or poor planning, Let's look at the charge of $2.6M for the Asset demob in Uruguay, they either bid the work SO LOW just to get the work and did not allow for the true expenses or when the Work ended abruptly they had not considered bidding the Contract with what a Drilling Rig contractor calls, a demob charge, a charge to cover getting the rig off the location in case they do not have another job firmly lined up in that immediate area to go to. In other words they committed to Warehouse, mud plant,etc (like a rig committing to a drilling job) without further work to follow to cover these Big One Off expenses when no other later work is available. Or like the Rig like bidding a demob charge to cover this expense (the NR/NDF expense is to close down the facility). AKA the oft used brilliant idea , its a big job- lets get it and worry about it later. They say they used $4M (assuming cash) to fund buying specialty chemical company. Would have imagined a stock type purchase but the Chemical company i guess said No deal then. On the asset side, the company Receivables is down $37M and Inventories are down $25 M from the first of 2016 ( 9 months ago) . That $62M total. You can only Manage Receivables and Inventories So much before the combination of these two starts to increase. These numbers , obviously, must grow again sometime if the Company is to increase sales. Then they can tell us about all that cash of which $70M is still from the SALE of the Envir Div . Even though they probably will not listen -Katy and Blow suggest you lay low. And all you stockholders -Stockholder Equity down $31M in last 9 months . And guess what- all those old mud plants (and excess mud plants), old drlg fluid warehouses, old grinding mills and old forklifts aren't worth what they used to be. I know, Big surprise. WE will find out their worth for sure in 9-10 months or so, when the $160M comes due 10/17.
Winner winner chicken dinner. Nailed $9m loss on the head