Thread regarding Newpark Resources Inc. layoffs

I once heard a wiseman say

That all the management at Newpark in Houston didn’t collectively have half a brain. Brash statement at the time, he didn’t mince his words. Truer words never spoken!

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Here is all you need to know about Fluids (from Newpark financials):

  1. $95.6m profit. 9.9% margins
  2. $86.7m LOSS. -14.9% margins
  3. $43.6m LOSS. -11.0% margins
  4. $27.5m profit. 4.5% margins
  5. $40.3m profit. 5.6% margins
  6. $3.8m profit. 0.6% margins
  7. $66.4m LOSS. -18.7% margins

2021 Q1 $6.8m LOSS. -7.7% margins
2021 Q2.$6.5m LOSS. -6.7% margins
2021 Q3 $6.6m LOSS. -6.2% margins

So, looking at this I come up with $144.9m NET LOSS in fluids since 2015 which was ALL under PV and Paterson’s watch (who Howes hand picked). Margins are abysmal and fluids is the laughing stock of the patch. Howes, Vollands and Paterson’s reign of stupidity continue to plague fluids and time is PAST DUE for Howes to hit the road! You reap what you sow!

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