NPKI Research | Milton Maxwell

NPKI

NPK International Inc.

12.65

-0.21-1.63%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

1.07B

P/E (TTM)

33.29

Basic EPS (TTM)

0.38

Dividend Yield

Recent Filings

10-K

FY2025 results

2/27/26Feb 27, 2026

NPK International crushed FY2025 with revenues leaping 27% to $277M, fueled by 39% rental growth from bigger utility projects, while product sales rose 30% on composite mat adoption; gross margins expanded 90bps to 36.4% despite $11M cross-rental costs to meet demand. Rental fleet swelled 16% via $37M net capex, yet Q4 saw no buybacks amid Grassform acquisition—$46M net for U.K. scale-up, lifting rental revenues 26% y/y. Operating income jumped 45% to $47M. Debt stays low at $17M with $139M revolver room. Capex eyes $45-55M in 2026 for fleet and capacity. Customer concentration risks quarterly momentum.

8-K

Q4 beat, strong 2026 guide

2/26/26Feb 26, 2026

NPK International released Q4 2025 results showing $277M revenue, up 27% YoY, with $76M Adjusted EBITDA at 27.3% margin; rental revenues surged 39% on power transmission demand. November's $42M Grassform acquisition bolsters UK fleet by 20,000 mats. 2026 guides $305-325M revenue, $88-100M Adjusted EBITDA. Net debt sits at $12M.

8-K

Q4 revenue surges 31%

2/25/26Feb 25, 2026

NPK International crushed Q4 2025 with $75.2M revenue, up 31% year-over-year, and full-year $277M, up 27%, fueled by 39% rental growth. Adjusted EBITDA hit $21.7M in Q4 (28.8% margin) and $75.5M yearly, up 38%. They closed the $42M Grassform acquisition in November to bolster UK scale. Guidance calls for 2026 revenue of $305-$325M, Adjusted EBITDA $88-$100M. Strong balance sheet holds.

8-K

Acquires Grassform for $46.4M

11/24/25Nov 24, 2025

NPK International's subsidiary closed the acquisition of U.K. ground protection firm Grassform on November 24, 2025, for £35.2 ($46.4) million in cash, funded by cash on hand and $10 million in borrowings. Grassform adds £15 ($19) million revenue and £6 ($8) million EBITDA from its 20,000-mat fleet. It bolsters U.K. rental scale. Earnout ties to performance through February 2026.

8-K

CFO assumes accounting role

11/12/25Nov 12, 2025

NPK International tapped CFO Gregg S. Piontek as principal accounting officer effective November 10, 2025, while Douglas L. White steps down from that role amid streamlining efforts. White stays on as non-executive through Spring 2026 for transition. Leadership shuffle sharpens cost structure.

About

NPK International Inc., a temporary worksite access solutions company, manufactures, sells, and rents recyclable composite matting products. The company engages in the installation and rental of matting systems, and related site construction and services to customers in various markets, including power transmission, oil and natural gas exploration and production, pipeline, renewable energy, petrochemical, construction, and other industries in the United States and United Kingdom. It also offers recyclable composite mats to customers worldwide; and access road construction, site planning and preparation, environmental protection, erosion control, and site restoration services. The company was formerly known as Newpark Resources, Inc. and changed its name to NPK International Inc. in December 2024. The company was incorporated in 1932 and is headquartered in The Woodlands, Texas.

CEO

Mr. Matthew S. Lanigan

IPO

9/6/1990

Website

https://www.npki.com

Employees

460

Sector

Energy

Industry

Oil & Gas Equipment & Services