$24m q3 loss for NP. Fluids contributes $19m loss with NEGATIVE 28% margins. But, but, but - we have increased market share. Amazing marketing plan NOT. Give it away and play the blame game on Hurricane season. PH AINT gotta clue.
5 replies (most recent on top)
It certainly looks like Paterson’s performance in fluids (thus far), has been very poor. In fact, ALL managements performance in fluids has been pathetic!
You reap what you sow.
As for the Price of that Prime Real Estate - I'm sure you will be selling at LEAST 28% below cost- just to keep the tradition in tact. Entire audience for Conference call- Two Analysts. And One was from a firm no one has ever heard of.
Folks, here’s a snapshot:
US land revenues fluids Q3: $30m
US Offshore revenues fluids Q3: $7m
Fluids margin: NEGATIVE 28%
If you think that will carry Newpark, I have 40 acres of prime waterfront in Arizona to sell you!!!!
For Cash and Receivables –should say $48M down to $24M and $216M down to $127M - but the point is noted.
As stated, $24M LOSS for 3rd Quarter 2020 with NEGATIVE Margins (Minus 28% in Fluids). With 5.5M Less Sales in current Q compared to Last Q (which was Horrible in and to it's self). BUT the BEST Part– CORPORATE OVERHEAD UP $100K— that's right UP $100K. Cash Now Down to $24K from start of year at $48K. NO Newpark Env Div to sell this Time and No Excess Inventory to Sell and Total Receivables WAY Down (216K to 127K). ph NEVER had a Clue. Period. The analyst's that follow this Company can't have a working brain.