secwatch.observer — SEC 8-K summary
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Issuer:     NPK International Inc. (NPKI)
CIK:        0000071829
Form:       8-K
Filed at:   2021-11-02T23:59:59+00:00
Accession:  0000071829-21-000136
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Newpark Q3 2021 net loss $10.5M; CEO Paul Howes to retire Feb 2022, succeeded by Matthew Lanigan
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- Revenue $151.8M (+7% seq, +57% YoY); net loss $10.5M ($0.11/sh) vs $6.0M loss in Q2 2021.
- Fluids Systems rev $108.0M (+11% seq) but op loss $6.6M, including $4.0M charges from Hurricane Ida and restructuring.
- Industrial Solutions rev $43.8M (op income $8.1M, 18% margin), with seasonal T&D slowdown offset by site access sales.
- CEO Paul Howes to retire on Feb 28, 2022 and resign from board; President/COO Matthew Lanigan to become CEO and board member.
- Hurricane Ida and COVID impacted results; working capital consumed $14M cash; net capex $6M for mat rental fleet expansion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/71829/000007182921000136/0000071829-21-000136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/71829/000007182921000136/nr-20211101.htm
  HTML page:      https://secwatch.observer/filing/0000071829-21-000136

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer