Why Newpark Resource (NR) Stock Is Gaining Despite Revenue Miss

NEW YORK (TheStreet) -- Newpark Resources (NR) shares are up 6.6% to $12.37 following the release of the company's first quarter earnings results.

The diversified oil and gas producer reported revenues of $242.8 million, a 9.4% year over year quarterly decrease.

Net income for the quarter was $35 million, or 36 cents per diluted share, beating analysts estimates of 16 cents per share. The net income tally included $22 million, or 22 cents per diluted share, from the sale of the company's environmental services business. 

"Looking forward, with the sale of our environmental services business now complete, we believe we are well positioned to capitalize on growth opportunities in both our global drilling fluids markets and our mats markets and enhance shareholder value," said CEO Paul Howes.

SELL NOW: If you own any of the 900 stocks that TheStreet Quant Ratings has identified as a 'Sell'...you could potentially lose EVERYTHING in the next 6-12 months. Learn more

NR Chart

NR data by YCharts

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

If you liked this article you might like

Newpark Resources (NR) Flagged As Strong On High Volume

Newpark Resources (NR) Is Today's Strong On High Volume Stock

Trade-Ideas: Newpark Resources (NR) Is Today's Strong On High Relative Volume Stock

Trade-Ideas: Newpark Resources (NR) Is Today's Weak On High Relative Volume Stock

Newpark Resources (NR) Stock Falls After Third Quarter Revenue Warning