Newpark Resources +15% after Q2 results rout estimates

Newpark Resources (NR +14.9%) shares surge within pennies of a 52-week high after the oilfield services company posted strong beats for Q2 earnings and revenues.

Q2 revenues rose 12% Y/Y to $272.5M, and income from continuing operations nearly doubled to $20.3M, or $0.21/share, both easily exceeding the analyst consensus estimate.

NR's fluids systems segment generated $241.4M in revenue, up 3.1% Y/Y and up 14.2% Q/Q.

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