Thread regarding Newpark Resources Inc. layoffs

Fluids abysmal performance since 2015

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

  1. $86.7m LOSS. -14.9% margins
  2. $43.6m LOSS. -11.0% margins
  3. $27.5m profit. 4.5% margins
  4. $40.3m profit. 5.6% margins
  5. $3.8m profit. 0.6% margins
  6. $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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To be honest, fluids hasn’t done Sh** since Perry retired. He had the right people in place to make NP profitable. Since he left, WW, Vollands, Paterson and Howes have destroyed fluids while failing miserably. Vollands ineptness continues to plague fluids today. Howes stupidity when picking leaders and successors has been abysmal. What goes around, comes around!

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