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What: Shares of Newpark Resources
So what: First-quarter revenue rose 26% to $202.7 million, beating estimates of $191.3 million from analysts. And the bottom line surprised as well as earnings per share reached $0.16, $0.03 better than estimates.
Now what: Mats and integrated services business led the way with a 70% increase in revenue. Newpark is in a sweet spot as drilling picks up around the world because of high oil prices. Trading at just a 13 forward P/E ratio still gives investors plenty of value in this growing business, so I think this catalyst will help push Newpark shares higher.
Interested in more info on Newpark Resources? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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