UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-02960 Newpark Resources, Inc. (Exact name of registrant as specified in its charter) Delaware 72-1123385 (State or other ...

Exhibit 99.1 NEWPARK RESOURCES REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS THE WOODLANDS, Texas – February 21, 2024 – Newpark Resources, Inc. (NYSE: NR) ("Newpark" or the "Company") today announced results for the three and twelve months ended December 31, 2023. FOURTH QUARTER 2023 RESULTS (all comparisons versus the prior year period unless otherwise noted) FULL YEAR 2023 RESULTS (all comparisons versus the prior year period unless otherwise noted) • Repurchased $32 million of common equity 1 • Indus ...

PART I FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2023, including Balance Sheets, Statements of Operations, Comprehensive Income, Stockholders' Equity, and Cash Flows, with notes on accounting policies, segment performance, and strategic changes Condensed Consolidated Balance Sheet Highlights (Unaudited) | (In thousands) | September 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $378,093 | $425,966 | | **Total assets** | $662,035 | $714,875 | | **Total current liabilities** | $153,056 | $162,942 | | **Total liabilities** | $248,068 | $291,847 | | **Total stockholders' equity** | $413,967 | $423,028 | Condensed Consolidated Statements of Operations Highlights (Unaudited) | (In thousands, except per share data) | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $198,498 | $219,853 | $581,784 | $590,435 | | **Operating income (loss)** | $13,247 | $(21,310) | $29,268 | $(26,560) | | **Net income (loss)** | $7,670 | $(24,595) | $14,992 | $(29,826) | | **Net income (loss) per share - diluted** | $0.09 | $(0.26) | $0.17 | $(0.32) | Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | (In thousands) | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | | **Net cash provided by (used in) operating activities** | $63,842 | $(28,093) | | **Net cash provided by (used in) investing activities** | $2,173 | $(15,223) | | **Net cash provided by (used in) financing activities** | $(62,168) | $39,823 | - The company operates through two primary segments: Fluids Systems for drilling and completion fluids, and Industrial Solutions for worksite access solutions, having exited Industrial Blending in 2022[23](index=23&type=chunk)[24](index=24&type=chunk) - In June 2023, the company initiated a strategic review for its Fluids Systems division, launching a formal sale process in September 2023, expected to conclude by mid-2024[57](index=57&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's performance, emphasizing the strategic shift to the higher-margin Industrial Solutions segment, detailing Q3 and nine-month results, strategic divestitures, and improved liquidity driven by strong operating cash flow, debt reduction, and share repurchases - The Industrial Solutions segment drives operating income and capital investment, while the Fluids Systems segment undergoes significant strategic changes, including divestitures and a formal sale process initiated in September 2023[61](index=61&type=chunk)[72](index=72&type=chunk) - Key 2023 priorities include accelerating Industrial Solutions growth, enhancing operational excellence for cash flow improvement, and prioritizing shareholder returns via debt reduction and share repurchases[63](index=63&type=chunk)[64](index=64&type=chunk) - For the first nine months of 2023, the company generated **$63.8 million** in operating cash flow, used **$34.1 million** for debt repayments, and repurchased **$26.0 million** of its shares[63](index=63&type=chunk)[64](index=64&type=chunk)[119](index=119&type=chunk) [Results of Operations](index=22&type=section&id=Results%20of%20Operations) In Q3 2023, revenues decreased **10%** to **$198.5 million**, with operating income turning positive to **$13.2 million** from a **$21.3 million** loss in Q3 2022, while nine-month revenues slightly decreased **1%** to **$581.8 million**, and operating income significantly improved to **$29.3 million** from a **$26.6 million** loss Consolidated Results: Q3 2023 vs. Q3 2022 | (In thousands) | Q3 2023 | Q3 2022 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenues** | $198,498 | $219,853 | (10)% | | **Operating income (loss)** | $13,247 | $(21,310) | NM | | **Net income (loss)** | $7,670 | $(24,595) | NM | Consolidated Results: Nine Months 2023 vs. Nine Months 2022 | (In thousands) | Nine Months 2023 | Nine Months 2022 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenues** | $581,784 | $590,435 | (1)% | | **Operating income (loss)** | $29,268 | $(26,560) | NM | | **Net income (loss)** | $14,992 | $(29,826) | NM | [Operating Segment Results](index=24&type=section&id=Operating%20Segment%20Results) In Q3 2023, Fluids Systems revenue decreased **16%** to **$141.2 million** with operating income recovering to **$7.6 million**, while Industrial Solutions revenue grew **12%** to **$57.3 million** with operating income up **43%** to **$14.3 million**, and for the first nine months, Industrial Solutions revenue increased **19%** to **$161.2 million** with operating income rising to **$41.6 million** Segment Revenues & Operating Income (Loss) - Q3 2023 | Segment | Revenues (in thousands) | Operating Income (Loss) (in thousands) | Operating Margin (%) | | :--- | :--- | :--- | :--- | | **Fluids Systems** | $141,236 | $7,573 | 5.4% | | **Industrial Solutions** | $57,262 | $14,336 | 25.0% | Segment Revenues & Operating Income (Loss) - First Nine Months 2023 | Segment | Revenues (in thousands) | Operating Income (Loss) (in thousands) | Operating Margin (%) | | :--- | :--- | :--- | :--- | | **Fluids Systems** | $420,591 | $13,004 | 3.1% | | **Industrial Solutions** | $161,193 | $41,593 | 25.8% | - Fluids Systems' North America Q3 revenue decreased **41%** year-over-year due to divestitures and a **15%** decline in U.S. rig count, while international revenue increased **35%** driven by higher activity in Europe and Africa[92](index=92&type=chunk)[93](index=93&type=chunk) - Industrial Solutions' Q3 rental and service revenues increased **16%** year-over-year, driven by continued market penetration in the U.S. power transmission sector[95](index=95&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity strengthened, with net cash from operations reaching **$63.8 million** in the first nine months of 2023, a significant turnaround from a **$28.1 million** use of cash in the prior year, driven by improved earnings and working capital benefits from 2022 divestitures, reducing total debt from **$114.1 million** to **$85.7 million** and lowering its total debt to capitalization ratio from **21.2%** to **17.2%** - Net cash from operating activities was **$63.8 million** for the first nine months of 2023, a significant improvement from a **$28.1 million** use in the prior year, largely due to working capital wind-down from 2022 divestitures[119](index=119&type=chunk) - In the first nine months of 2023, the company made net debt repayments of **$34.1 million** and repurchased **$26.0 million** of its shares[121](index=121&type=chunk) Capitalization Summary | (In thousands) | September 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total debt** | $85,714 | $114,115 | | **Total stockholders' equity** | $413,967 | $423,028 | | **Total capitalization** | $499,681 | $537,143 | | **Total debt to capitalization** | 17.2% | 21.2% | - As of September 30, 2023, the company had **$68.4 million** in remaining availability under its Amended ABL Facility[127](index=127&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from variable interest rates on its debt and foreign currency fluctuations in international operations, where a **100 basis-point** interest rate increase would raise annual pre-tax interest expense by approximately **$0.7 million** - The company has **$85.8 million** in principal debt outstanding, largely subject to variable interest rates, where a hypothetical **100 basis-point** increase in short-term rates would raise annual pre-tax interest expense by **$0.7 million**[141](index=141&type=chunk) - Principal foreign currency exchange risks are associated with operations in EMEA, Canada, and Asia Pacific, involving currencies like the euro, Canadian dollar, and British pound[142](index=142&type=chunk) [Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[143](index=143&type=chunk) - No material changes occurred in internal control over financial reporting during the quarter ended September 30, 2023[144](index=144&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings in the ordinary course of business, but management does not anticipate any outcomes that would materially adversely impact its consolidated financial statements - Management does not expect any loss from litigation or other proceedings to have a material adverse impact on the company's consolidated financial statements[146](index=146&type=chunk) [Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) This section updates the company's risk factors, specifically addressing the potential adverse effects of ongoing conflicts in Europe and the Middle East, which could impact business through sanctions, supply chain disruptions, regional instability, and heighten existing risks like commodity price volatility and cybersecurity threats - The company identifies that current conflicts in Europe and the Middle East may adversely affect its business and operations, despite lacking direct operations in conflict zones[148](index=148&type=chunk) - These conflicts could heighten other risks, including volatility of oil and gas prices, customer spending, raw material availability, and cybersecurity breaches[149](index=149&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased over **1 million** shares of common stock for **$6.0 million** during Q3 2023, with the Board increasing the total repurchase authorization to **$50.0 million** in February 2023, leaving **$24.1 million** available as of September 30, 2023 Share Repurchases - Q3 2023 | Period | Total Number of Shares Purchased (Shares) | Average Price Paid Per Share ($) | | :--- | :--- | :--- | | July 2023 | 17,425 | $5.26 | | August 2023 | 500,219 | $5.58 | | September 2023 | 547,996 | $6.16 | | **Total** | **1,065,640** | | - In February 2023, the Board increased the share repurchase program authorization to **$50.0 million**, with **$24.1 million** remaining available as of September 30, 2023[151](index=151&type=chunk)[152](index=152&type=chunk) - Subsequent to the quarter end, in October 2023, an additional **0.9 million** shares were repurchased for **$6.0 million**[153](index=153&type=chunk) [Defaults Upon Senior Securities](index=35&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities during the period - No defaults upon senior securities were reported[155](index=155&type=chunk) [Mine Safety Disclosures](index=35&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - This disclosure is not applicable to the company[156](index=156&type=chunk) [Other Information](index=35&type=section&id=Item%205.%20Other%20Information) During the third quarter of 2023, no director or officer adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangement - No director or officer adopted or terminated any Rule 10b5-1 trading arrangement during the quarter ended September 30, 2023[157](index=157&type=chunk) [Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed as part of the Quarterly Report on Form 10-Q, including CEO and CFO certifications and Inline XBRL documents - The exhibits filed with the report include certifications from the CEO and CFO pursuant to the Sarbanes-Oxley Act of 2002 and various XBRL data files[159](index=159&type=chunk)[160](index=160&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-02960 Newpark Resources, Inc. (Exact name of registrant as specified in its charter) Delaware 72-1123385 (State or ot ...

Newpark Resources, Inc. (NYSE:NR) Q1 2023 Earnings Conference Call May 3, 2023 8:00 AM ET Company Participants Ken Dennard - Dennard Lascar, IR Matthew Lanigan - President and CEO Gregg Piontek - CFO Conference Call Participants Bill Dezellem - Tieton Capital Operator Greetings, and welcome to the Newpark Resources First Quarter 2023 Earnings Conference Call [Operator Instructions]. And as a reminder, this conference is being recorded. And it is now my pleasure to introduce to you Ken Dennard. Thank you, Ke ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-02960 Newpark Resources, Inc. (Exact name of registrant as specified in its charter) 9320 Lakeside Boulevard, Suite ...

Part I [Business](index=5&type=section&id=ITEM%201.%20Business) Newpark Resources operates through Industrial Solutions and Fluids Systems, with Industrial Solutions driving profitability, focusing on energy transition and sustainable products - The company operates through two main reportable segments: Industrial Solutions and Fluids Systems. A third segment, Industrial Blending, was exited in **2022**[21](index=21&type=chunk) - The Industrial Solutions segment provides temporary worksite access solutions, primarily through the rental and sale of recyclable composite matting systems. Key markets include power transmission, E&P, and renewable energy[22](index=22&type=chunk) - The Fluids Systems segment supplies drilling, completion, and stimulation fluids for oil, natural gas, and geothermal projects globally. In **Q4 2022**, the company exited its U.S. mineral grinding business and Gulf of Mexico fluids operations within this segment[23](index=23&type=chunk) - The company's long-term strategy emphasizes expansion in energy transition end-markets (like power transmission and geothermal), providing environmentally sustainable products (e.g., recyclable **DURA-BASE® mats** and water-based fluids), and returning capital to shareholders through share repurchases[31](index=31&type=chunk)[32](index=32&type=chunk) - As of **December 31, 2022**, the company employed approximately **1,540 personnel** across more than **20 countries**, with over half residing outside the United States. None of the employees are represented by labor unions[45](index=45&type=chunk) [Risk Factors](index=10&type=section&id=ITEM%201A.%20Risk%20Factors) The company faces significant risks tied to the volatile oil and natural gas industry, impacting revenue, alongside operational, financial, and regulatory challenges - A significant portion of revenues comes from the oil and natural gas industry, making the company vulnerable to reduced customer spending, which is influenced by energy prices, hydrocarbon demand, and regulatory developments[51](index=51&type=chunk) - International operations, which generated **34% of 2022 consolidated revenues**, are subject to risks including complex foreign laws, political instability, currency fluctuations, and trade barriers. Algeria is noted as a significant international market, representing **7% of 2022 revenues** and holding **24% of the total cash balance**[68](index=68&type=chunk)[69](index=69&type=chunk) - The business is dependent on the availability and price of key raw materials. The Industrial Solutions segment relies on **high-density polyethylene (HDPE)**, while the Fluids Systems segment depends on **barite**. Both have experienced cost increases and potential supply constraints[80](index=80&type=chunk)[81](index=81&type=chunk)[82](index=82&type=chunk) - The company's Amended ABL Facility has covenants that, if breached, could lead to default and acceleration of debt. Compliance depends on generating sufficient cash flow, which is subject to industry volatility[100](index=100&type=chunk)[103](index=103&type=chunk) - Environmental laws and regulations, particularly those related to climate change and greenhouse gas emissions, could increase costs or reduce demand for fossil fuels, adversely affecting customer activity and demand for the company's products and services[105](index=105&type=chunk)[106](index=106&type=chunk) - Strategic divestitures completed in **2022**, including the Excalibar U.S. mineral grinding business and Gulf of Mexico operations, carry risks such as operational difficulties, disputes with purchasers, and potential negative impacts on future cash flows if remaining businesses underperform[121](index=121&type=chunk)[123](index=123&type=chunk)[124](index=124&type=chunk) [Unresolved Staff Comments](index=21&type=section&id=ITEM%201B.%20Unresolved%20Staff%20Comments) The company reports that it has no unresolved staff comments - None[130](index=130&type=chunk) [Properties](index=21&type=section&id=ITEM%202.%20Properties) The company owns and leases various global facilities, including key owned properties in Katy, Texas, and Carencro, Louisiana - The company owns a facility in Katy, Texas, which houses division headquarters, a technology center for the Fluids Systems segment, and is partially leased to third parties[131](index=131&type=chunk) - The Industrial Solutions segment owns a **93,000 sq. ft. manufacturing and technology facility** on **34 acres** in Carencro, Louisiana[133](index=133&type=chunk) - Following the exit from Gulf of Mexico operations in **Q4 2022**, the company entered into a **seven-year sublease** for its drilling fluids shorebase and blending facility in Fourchon, Louisiana[132](index=132&type=chunk) [Legal Proceedings](index=21&type=section&id=ITEM%203.%20Legal%20Proceedings) The company is involved in ordinary course litigation, with management expecting no material adverse impact on financial statements - The company is involved in litigation from private party actions and governmental proceedings in the ordinary course of business[135](index=135&type=chunk) - Management does not expect any loss from litigation, beyond amounts accrued or covered by insurance, to have a material adverse impact on the company's financial statements[135](index=135&type=chunk) [Mine Safety Disclosures](index=22&type=section&id=ITEM%204.%20Mine%20Safety%20Disclosures) Mine safety disclosures, as required by the Dodd-Frank Act, are included in Exhibit 95.1 of the Annual Report - Required mine safety disclosures are provided in **Exhibit 95.1** of this Form 10-K[136](index=136&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=23&type=section&id=ITEM%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on the NYSE under "NR", with no dividends paid or planned, and significant share repurchases in Q4 2022 - The company's common stock is traded on the New York Stock Exchange under the symbol **"NR"**[139](index=139&type=chunk) - The company has not paid dividends in the last three fiscal years and does not intend to pay cash dividends in the foreseeable future. The Amended ABL Facility also limits dividend payments[140](index=140&type=chunk) Share Repurchases (Q4 2022) | Period | Total Number of Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | October 2022 | — | $ — | | November 2022 | 1,632,078 | $ 3.96 | | December 2022 | 2,807,024 | $ 3.94 | | **Total Q4 2022** | **4,439,102** | | - In **Q4 2022**, the company repurchased **4,437,885 shares** for **$17.5 million** under its repurchase program, leaving **$6.2 million** available as of year-end. In **February 2023**, the Board increased the repurchase authorization to **$50.0 million**[144](index=144&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=ITEM%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In 2022, consolidated revenues increased 33% to $815.6 million, driven by Fluids Systems, while operating loss was impacted by $37.3 million in impairment charges from strategic exits [Results of Operations](index=29&type=section&id=Results%20of%20Operations) For 2022, revenues grew 33% to $815.6 million, primarily from Fluids Systems, while the consolidated operating loss was stable at $9.0 million due to impairment charges Consolidated Revenues and Operating Income (Loss) (In thousands) | (In thousands) | 2022 | 2021 | % Change | | :--- | :--- | :--- | :--- | | **Revenues** | **$815,594** | **$614,781** | **33%** | | Fluids Systems | $622,601 | $420,789 | 48% | | Industrial Solutions | $192,993 | $185,171 | 4% | | **Operating income (loss)** | **($9,034)** | **($8,825)** | **(2)%** | | Fluids Systems | ($15,566) | ($19,012) | 18% | | Industrial Solutions | $43,899 | $42,117 | 4% | - The **2022 operating loss** includes **$37.3 million** in impairment charges related to the exit of the Gulf of Mexico operations (**$29.4 million**) and the Industrial Blending segment (**$7.9 million**)[175](index=175&type=chunk) - Fluids Systems North America revenue increased **51% in 2022**, driven by a **52% increase** in the U.S. rig count. International revenue grew **42%**, reflecting recovery from prior-year COVID-19 disruptions[182](index=182&type=chunk)[183](index=183&type=chunk) - Industrial Solutions rental and service revenues increased **13% in 2022** due to market penetration in the power transmission sector, while product sales decreased **12%** from a strong 2021[185](index=185&type=chunk) [Liquidity and Capital Resources](index=37&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity is primarily from its $175 million ABL facility, with net cash used in operations due to working capital increases, offset by significant divestiture proceeds - Net cash used in operating activities was **$25.0 million in 2022**, compared to **$3.0 million in 2021**, primarily due to a **$79.1 million** use of cash for working capital to support revenue growth[211](index=211&type=chunk) - Net cash provided by investing activities was **$46.2 million in 2022**, mainly from **$71.3 million** in proceeds from divestitures. Capital expenditures were **$28.3 million**, with **83%** directed to the Industrial Solutions segment[212](index=212&type=chunk)[151](index=151&type=chunk) - Net cash used in financing activities was **$24.9 million in 2022**, which included **$17.6 million** for share repurchases[213](index=213&type=chunk) Capitalization (In thousands) | (In thousands) | Dec 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Total debt | $114,115 | $114,803 | | Stockholders' equity | $423,028 | $462,386 | | **Total capitalization** | **$537,143** | **$577,189** | | Total debt to capitalization | 21.2% | 19.9% | - As of **December 31, 2022**, the Amended ABL Facility had **$80.3 million** drawn, **$3.3 million** used for letters of credit, and remaining availability of **$84.0 million**[219](index=219&type=chunk) [Critical Accounting Policies](index=41&type=section&id=Critical%20Accounting%20Policies) The company's critical accounting policies involve significant management estimates for asset impairment and deferred tax asset valuation allowances, leading to substantial charges in 2022 - Significant estimates are required for impairment testing of long-lived assets, goodwill, and intangible assets, as well as for determining valuation allowances for deferred tax assets[236](index=236&type=chunk) - In **2022**, the company recognized a **$7.9 million impairment charge** on the Conroe, Texas blending facility and a **$21.5 million impairment charge** on long-lived assets related to the exit of Gulf of Mexico operations[239](index=239&type=chunk)[240](index=240&type=chunk) - The annual goodwill impairment test as of **November 1, 2022**, for the Industrial Solutions reporting unit (which holds all **$47.1 million of goodwill**) concluded that its fair value was significantly more than its carrying value, so no impairment was recorded[241](index=241&type=chunk) - As of **December 31, 2022**, the company had a valuation allowance of **$47.3 million** against deferred tax assets of **$71.9 million**, primarily related to U.S. and foreign net operating loss carryforwards and foreign tax credits[242](index=242&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=43&type=section&id=ITEM%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to interest rate risk on its variable-rate debt and foreign currency exchange risk from international operations, without using hedging instruments - The company is exposed to interest rate risk on its **$114.2 million** of variable-rate debt. A hypothetical **100 basis-point increase** in short-term rates would increase annual pre-tax interest expense by about **$1.0 million**[248](index=248&type=chunk) - Foreign currency exchange risk exists due to operations in EMEA, Canada, Asia Pacific, and Latin America. The company does not historically use financial hedging instruments to manage this risk[249](index=249&type=chunk) [Financial Statements and Supplementary Data](index=44&type=section&id=ITEM%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the company's audited consolidated financial statements for the three years ended December 31, 2022, along with the independent auditor's unqualified opinion Consolidated Balance Sheets (In thousands) | (In thousands) | Dec 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | **$425,966** | **$388,512** | | Property, plant and equipment, net | $193,099 | $260,256 | | Goodwill | $47,110 | $47,283 | | **Total assets** | **$714,875** | **$752,886** | | **Total current liabilities** | **$162,942** | **$150,392** | | Long-term debt, less current portion | $91,677 | $95,593 | | **Total liabilities** | **$291,847** | **$290,500** | | **Total stockholders' equity** | **$423,028** | **$462,386** | Consolidated Statements of Operations (In thousands, except per share data) | (In thousands, except per share data) | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Total revenues | $815,594 | $614,781 | $492,625 | | Operating loss | ($9,034) | ($8,825) | ($78,634) | | Net loss | ($20,834) | ($25,526) | ($80,696) | | Net loss per common share - diluted | ($0.22) | ($0.28) | ($0.89) | Consolidated Statements of Cash Flows (In thousands) | (In thousands) | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | ($25,021) | ($3,013) | $55,791 | | Net cash provided by (used in) investing activities | $46,230 | ($17,475) | ($3,395) | | Net cash provided by (used in) financing activities | ($24,930) | $21,408 | ($77,941) | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=76&type=section&id=ITEM%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[409](index=409&type=chunk) [Controls and Procedures](index=76&type=section&id=ITEM%209A.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and internal control over financial reporting were effective as of December 31, 2022, with no material changes in Q4 - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of **December 31, 2022**[410](index=410&type=chunk) - There were no material changes in internal control over financial reporting during the quarter ended **December 31, 2022**[411](index=411&type=chunk) - Management concluded that the company's internal control over financial reporting was **effective** as of **December 31, 2022**, based on the **COSO framework**[414](index=414&type=chunk) [Other Information](index=78&type=section&id=ITEM%209B.%20Other%20Information) The company reports no other information for this item - None[425](index=425&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=78&type=section&id=ITEM%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the company's 2023 Annual Meeting Proxy Statement - Information regarding directors and executive officers is incorporated by reference from the **2023 Annual Meeting Proxy Statement**[428](index=428&type=chunk) - The company has adopted a **Code of Ethics for Senior Officers and Directors** and a **Code of Business Ethics and Conduct**, which are available on its website[430](index=430&type=chunk) [Executive Compensation](index=78&type=section&id=ITEM%2011.%20Executive%20Compensation) Information regarding executive compensation is incorporated by reference from the company's 2023 Annual Meeting Proxy Statement - Information regarding executive compensation is incorporated by reference from the **2023 Annual Meeting Proxy Statement**[431](index=431&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=78&type=section&id=ITEM%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information on security ownership and equity compensation plans is incorporated by reference from the company's 2023 Annual Meeting Proxy Statement - Information regarding security ownership and equity compensation plans is incorporated by reference from the **2023 Annual Meeting Proxy Statement**[432](index=432&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=78&type=section&id=ITEM%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information on related person transactions and director independence is incorporated by reference from the company's 2023 Annual Meeting Proxy Statement - Information regarding related transactions and director independence is incorporated by reference from the **2023 Annual Meeting Proxy Statement**[433](index=433&type=chunk) [Principal Accountant Fees and Services](index=78&type=section&id=ITEM%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information on principal accountant fees and services is incorporated by reference from the company's 2023 Annual Meeting Proxy Statement - Information regarding principal accountant fees and services is incorporated by reference from the **2023 Annual Meeting Proxy Statement**. The independent registered public accounting firm is **Deloitte & Touche LLP**[434](index=434&type=chunk) Part IV [Exhibit and Financial Statement Schedules](index=79&type=section&id=ITEM%2015.%20Exhibit%20and%20Financial%20Statement%20Schedules) This section lists the financial statements and exhibits filed as part of the Annual Report, with consolidated financial statements in Item 8 and other schedules omitted - This section lists the financial statements and exhibits filed with the Form 10-K[437](index=437&type=chunk) - All financial statement schedules have been omitted because they are not required or are inapplicable[440](index=440&type=chunk) [Form 10-K Summary](index=84&type=section&id=ITEM%2016.%20Form%2010-K%20Summary) The company reports no Form 10-K summary - None[447](index=447&type=chunk)

Newpark Resources, Inc. (NYSE:NR) Q4 2022 Earnings Conference Call February 17, 2023 9:30 AM ET Company Participants Matthew Lanigan - President and CEO Gregg Piontek - CFO Ken Dennard - Dennard Lascar, IR Conference Call Participants Bill Dezellem - Tieton Capital Management Operator Greetings. Welcome to Newpark Resources fourth quarter and full-year 2022 earnings conference call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Ke ...

Newpark Resources, Inc. (NYSE:NR) Q3 2022 Earnings Conference Call November 2, 2022 9:30 AM ET Company Participants Ken Dennard - Dennard Lascar IR Matthew Lanigan - President and CEO Gregg Piontek - CFO Conference Call Participants William Dezellem - Tieton Capital Management Operator Good morning, ladies and gentlemen, and welcome to the Newpark Resources Third Quarter 2022 Conference Call. [Operator Instructions] And with that, I will now turn the program over to your host, Ken Dennard. Ken Dennard Than ...

For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Not Applicable (Former name, former address and former fiscal year, if changed since last report) Commission File Number: 001-02960 Newpark ...