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NPKI NPK International-16.5%Stock moveEarnings and guidance

NPK International Stock Falls 17% After Third-Quarter Results Cut Full-Year Revenue Guidance

Dry Texas weather delayed matting rentals, and management lowered its 2026 outlook while saying demand in October strengthened.

By Zintick Team · Editor: Kratik Mehta
Published

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Key points

  • NPKI fell 16.5% Friday after Q3 results and a lower 2026 outlook tied to Texas weather
  • Q3 revenue rose 11% to $76.3 million; adjusted EBITDA up 30% to $20.0 million
  • 2026 revenue guidance cut to $300 million to $305 million
  • Management says 2027 growth expectations are unchanged

NPK International Inc. (NYSE: NPKI) fell 16.5% on Friday, closing at $9.35 against a previous close of $11.20, as the S&P 500 ETF (SPY) slipped 1.77%. Volume ran at 7.5 times its usual level. The drop followed the company's third-quarter results, released in an 8-K on Oct. 29, which carried a press release reporting revenue of $76.3 million, up 11% from a year earlier, and diluted earnings of $0.07 per share.

Weather and delayed projects weighed on rentals

Management said exceptionally dry weather in Texas hurt matting demand during the third and early fourth quarters and led it to lower full-year guidance. Several scheduled large-scale utility projects began without matting, the release said. Rental and service revenue rose 12% to $49.6 million, while product sales rose 9% to $26.7 million.

Revised 2026 outlook

NPK now expects 2026 revenue of $300 million to $305 million and adjusted EBITDA of $90 million to $93 million. Management said its growth expectations for 2027 remain unchanged.

Margins and cash

Adjusted EBITDA rose 30% to $20.0 million, and the adjusted EBITDA margin reached 26.2%, up 390 basis points. Free cash flow was negative $4.4 million in the quarter. The company had $4.2 million in cash and $26.3 million in total debt at quarter end, with about $132 million available under its revolving credit facility, according to the release.

The company did not give an analyst-facing explanation for the size of the share decline beyond the results and outlook described above. Its 10-Q was filed separately on Oct. 30.

Sources

Written with AI from SEC filings and market data, and checked against those sources before publishing. Our editorial standards.

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Filings, figures and price history are on the NPK International page.