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 (NR +2.54%) 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.
