Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of energy industry supplier Newpark Resources Inc (NYSE:NR) jumped 15% today after reporting second-quarter results.
So what: Revenue rose 12% in the quarter to $272.5 million, and income from continuing operations nearly doubled to $20.3 million, or $0.21 per share. Analysts had only projected $0.14 per share in earnings, so the company is clearly performing better than investors anticipated.
Now what: The fluids business was the highlight, growing revenue 20% sequentially in gains around the world. Mats and Integrated Services were less impressive, with revenue down slightly sequentially, but as a whole, the company is performing well. With demand for drilling materials and services trending higher, I think Newpark has a lot of growth potential for investors.
Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.