Thread regarding Newpark Resources Inc. layoffs

Interesting comments from Newpark competitor

From CESDF q3 conference call (not sure who they were referring to, draw your own conclusion):

At this point of the call, traditionally long-term followers of the company would expect a very granular operations and technical update for me. I want to explain why I’m choosing to deviate from sharing exciting problem solving breakthroughs with customers across North America. I won’t share what we’ve done with supply chain to remain profitable when industry volumes and pricing have collapsed.

And here’s the reason. We have some terrible competitors. I can’t or won’t explain their business practices. I can only explain our own. So part of our very deliberate strategy is to let competitors self-destruct. And for that reason, we will not be segmenting production versus upstream results, nor will we segment the contributions are niche businesses make the headline EBITDAC margins, so Steamworks, HDD Trenchless, Sialco and Clear Environmental.

We’re not helping our competitors figure out what makes our results better than theirs. We do realize than analysts are very concerned that customer consolidation implies lower oil field service margins across North America. We like our chances to remain a cash flow generating company, because of our unique business model and company attrition.

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