10-K · February 27, 2026
NPK International is positioning to grow its higher-margin rental business (rentals/services were 66% of 2025 revenues) while pursuing inorganic growth (completed the Grassform acquisition in Nov 2025 for estimated net…
Earnings analysis · 10-Q
NPKI earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
NPK International Inc. reported strong financial results for Q1 2026, with revenues of $75.1 million, up 16% year-over-year, outperforming estimates of $73 million. Diluted EPS was $0.12, slightly exceeding the expected…
Read full summary
NPK International Inc. reported strong financial results for Q1 2026, with revenues of $75.1 million, up 16% year-over-year, outperforming estimates of $73 million. Diluted EPS was $0.12, slightly exceeding the expected $0.11. Key growth was driven by a 20% rise in rental and service revenues, and the company announced plans for significant investments to expand its manufacturing capacity.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.12
What stood out
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Revenue Growth Surpasses Expectations
Q1 2026 revenues increased by 16% to $75.1 million compared to $64.8 million in Q1 2025, exceeding estimates of $73 million.
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EPS Exceeds Consensus Estimate
Diluted EPS for Q1 2026 was $0.12, surpassing the estimate of $0.11, reflecting a 9.09% surprise.
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Strong Increase in Rental Revenues
Rental and service revenues increased by $8.6 million (20%) to $51.95 million, contributing significantly to overall revenue growth.
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Improved Operating Cash Flow
Net cash provided by operating activities rose to $21.1 million in Q1 2026 from $8.8 million in Q1 2025.
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Debt Reduction and Strong Credit Facility
Total debt decreased to $10.6 million in Q1 2026 from $16.9 million at year-end 2025, and no borrowings under the Credit Facility were reported.
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Share Repurchase Program Continues
Utilized $2.7 million to repurchase 0.2 million shares under the buyback program, with $89 million authorization remaining.
What to watch
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Decline in Gross Margin
Gross margin fell to 36.2% in Q1 2026 from 39.0% in Q1 2025, impacted by increased rental costs.
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Potential Supply Chain Disruptions
Challenges related to supplier reliability and costs may affect future operational efficiencies and margins.
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Increased Capex for Expansion Plans
The planned $40 to $45 million investment to expand manufacturing capacity could pose financial strain if not executed effectively.
Management's outlook
Raised full-year revenue guidance to $310M-$325M, previously not provided.
Earlier filings 4
10-Q · October 31, 2025
NPKI reported Q3 revenue of $68,838,000 (up from $44,207,000 in Q3 2024) and GAAP diluted EPS of $0.07, in line with estimates. Gross margin narrowed to 31.9% and operating margin to 13.2% as cost of revenues increased,…
10-K · February 28, 2025
NPK International Inc. completed the sale of its Fluids Systems business on September 13, 2024, refocusing its strategy on rental and sales of recyclable composite matting systems, which comprised 67% of 2024 revenues.…
10-Q · November 12, 2024
Newpark reported Q3 revenue of $44.21M, down $13.06M (−22.8% YoY) versus $57.26M in Q3 2023; consolidated net loss was $(174.30)M driven by a $195.73M pre‑tax loss on the sale of the Fluids Systems business. Continuing…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.