Newpark Resources, Inc. (NYSE:NR) Q3 2023 Earnings Conference Call August 2, 2023 9:30 AM ET
Company Participants
Rob Krotee – Vice President-Investor Relations, Strategy and Corporate Development
Matthew Lanigan – President and Chief Executive Officer
Gregg Piontek – Chief Financial Officer
Conference Call Participants
Bill Dezellem – Tieton Capital
Operator
Good morning. My name is Katie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Newpark Resources Second Quarter 2023 Earnings Conference Call. Today’s call is being recorded, and will be available for replay beginning at 12:30 p.m. Eastern Standard Time. [Operator Instructions]
It is now my pleasure to turn the floor over to Rob Krotee, Vice President of Investor Relations, Strategy and Corporate Development. Please go ahead, sir.
Rob Krotee
Thank you, operator. On behalf of the entire team at Newpark Resources, I’d like to welcome you to our second quarter 2023 results conference call.
Leading the call today are Matthew Lanigan, our President and Chief Executive Officer; and Gregg Piontek, our Chief Financial Officer.
Today’s discussion contains forward-looking statements about future business and financial expectations. Actual results may differ significantly from those projected in today’s forward-looking statements due to various risks and uncertainties, including the risks described in our periodic reports filed with the SEC. Except as required by law, we undertake no obligations to update our forward-looking statements. Our comments on today’s call may also include certain non-GAAP financial measures. Additional details and reconciliations to the most directly comparable GAAP financial measures are included in our quarterly earnings release, which can be found on our corporate website.
There will be a replay of today’s call, and it will be available by webcast within our Investor Relations section of our website at newpark.com. Please note that the information disclosed on today’s call is current as of August 2, 2023. At the conclusion of our prepared remarks, we’ll open the line for questions.
With that, I would like to turn over the call to our President and CEO, Matthew Lanigan.
Matthew Lanigan
Thank you, Rob. And welcome to everyone joining us on today’s call.
During the second quarter, we continued to execute on our business transformation strategy, demonstrating meaningful progress around our commercial growth, operational excellence and capital allocation priorities while continuing to build an industrial solutions platform equipped to drive long-term value creation for our shareholders.
We delivered second quarter net income of $1.7 million, or $0.02 per diluted share on revenues of $183.3 million with net income improving $9.5 million on a year-over-year basis in the period.