Npk International Inc. · NYSE:NPKI
Npk International — Q3 2025 Earnings Presentation
34 slides from Npk International's earnings presentation, Oct 31, 2025
Slide 1: October 2025 Investor Presentation
October 2025 Investor Presentation INVESTOR RELATIONS
Slide 2: Safe Harbor
Safe Harbor DISCLAIMERS Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical facts are forward-looking statements. Words such as “w
Slide 3: Business Overview
Business Overview CONFIDENTIAL 3
Slide 4: NPK: A Specialty Rental & Services Company
NPK: A Specialty Rental & Services Company Providing Worksite Access Solutions To Power & Infrastructure Markets Financial Highlights ABOUT NPK TTM Q3 2025 Revenue Revenue Adj. EBITDA* Adj. EPS* We are a temporary worksite access $71 $259 $0.38 solutions company that 32% $49 $55 manufactures, sells,
Slide 5: The Original Composite Mat
The Original Composite Mat Flexible Model Accommodates Varying Customer Needs DURA-BASE® ADVANCED-COMPOSITE MAT SYSTEM We provide both rental and purchase options for our customers. Reasons Customers ✓ Capital preservation/optionality Our flagship product, DURA-BASE®, solution made from ✓ Project-by
Slide 6: Vertically Integrated Model Supports Specialty End-Markets
Vertically Integrated Model Supports Specialty End-Markets Products & Services We combine industry-leading IP and deep manufacturing expertise with on-demand logistics support and installation. Engineering & Design Precision Manufacturing Logistics Planning & Installation Specialty Rental, Product S
Slide 7: We Own & Operate the Largest U.S. Composite Matting Fleet
We Own & Operate the Largest U.S. Composite Matting Fleet Scale to Capitalize on Multi-year Investment Cycles Across Multiple End-markets Revenue Macro End-market Segment Demand Drivers Concentration Outlook Power Transmission • Need for significant sustained investment driven by aging infrastructur
Slide 8: Significant Opportunity within Power Transmission Market
Significant Opportunity within Power Transmission Market Significant Demand Drivers Driving Growing Investments in Transmission Grid % of Driver Rationale Total Estimated Transmission Capex and Power Demand CapEx Aging Grid Infrastructure Rapid energy demand growth in the U.S. is ~30% $50 threatenin
Slide 9: Material Conversion Opportunity
Material Conversion Opportunity Compelling Benefits vs Wood Products Provide Long-term Material Conversion Tailwind Composite Wood Composite makes up Typical Average Lifespan (years) Weight (lbs) Designed to 1,000 2,200 – 2,800 Wood Composite ~25 %* 10-15 2-3 of the matting market, Composite mats ar
Slide 10: Our Specialty Rental Asset Generates ~35% IRR
Our Specialty Rental Asset Generates ~35% IRR Recyclable Composite Matting Provides For Long Useful Raw Material Life & Superior IRR NPK Rental Mat Economic Case Material can be recycled $10,000 multiple times $8,000 Annual Rental revenue ~50% of cost Revenue generation remains consistent Recycled f
Slide 11: Recent Performance
Recent Performance CONFIDENTIAL 11
Slide 12: 3Q25 Performance Summary, 2025 Outlook
3Q25 Performance Summary, 2025 Outlook Momentum Continued Through 3Q25, Driving Strong YOY Growth Third Quarter 2025 Business Outlook Performance Summary (As of October 31, 2025) Strong customer demand for rental and related services Increased full-year 2025 guidance 3Q25 revenues from specialty ren
Slide 13: Performance Bridges
Performance Bridges 3Q24 vs. 3Q25 Adjusted EBITDA from Continuing Operations* $ in millions $15 $8 YTD 3Q24 vs. YTD 3Q25 Adjusted EBITDA from Continuing Operations* $ in millions $54 $38 * Represents a non-GAAP financial measure. See reconciliation to the most comparable GAAP measure in “Non-GAAP Fi
Slide 14: Strategic Focus: Fleet Optimization, Price Discipline & Cost Controls
Strategic Focus: Fleet Optimization, Price Discipline & Cost Controls Year-Over-Year Performance Revenue Adjusted EBITDA* Adjusted EBITDA Margin* $ in millions $ in millions Adjusted EBITDA as % of total revenue* +19% +56% +210 +530 +29% +105% bps bps * Represents a non-GAAP financial measure. See r
Slide 15: Rental Growth Rate Accelerating in 2025
Rental Growth Rate Accelerating in 2025 5 Year Performance Rental Revenue Services Revenue Product Sales Revenue $ in millions $ in millions $ in millions Rental revenue accelerated in 2025, driven primarily Strategic shift away from lower margin service work Product sales fluctuate quarter-to-quart
Slide 16: Financial Guidance
Financial Guidance Current as of October 31, 2025 For the Full Year 2025, NPK Currently Anticipates the Following: Consolidated Adjusted Consolidated Revenues Net Capital Expenditures EBITDA in a range of in a range of in a range of $268-$272 $71-$74 $45-$50 million million million 16
Slide 17: Value Creation Roadmap
Value Creation Roadmap CONFIDENTIAL 17
Slide 18: Organic & Inorganic Growth
Organic & Inorganic Growth ~ $180 million of cash and bank facility availability exiting 3Q25 provides meaningful flexibility to support growth plans Commercial Growth Priorities Net Debt (Cash)* Our Organic Growth Priorities Pursuing the highest-return, value-enhancing projects ✓ Geographic network
Slide 19: Driving Asset & Cost Optimization
Driving Asset & Cost Optimization Strong Cash Flow Conversion ~60% of TTM 3Q25 Adjusted EBITDA* available to support Operational Excellence Initiatives organic growth investments and return of capital Cash used to fund working capital and other operating activities Recent Operational Improvements Ca
Slide 20: Enhancing Return on Capital Employed
Enhancing Return on Capital Employed Capital Allocation Priorities Solid Return on Net Assets following 2024 Divestiture YTD 3Q25 Annualized Return on Net Assets * Capital Allocation Priorities ✓ Maintain modest leverage 11.0% ✓ Organic investment to expand rental fleet, along with associated equipm
Slide 21: Investment Summary
Investment Summary Why invest in NPKI? Driving value creation through organic growth and margin expansion Delivered consistent growth in revenue and EBITDA from 2022-2025. Midpoint of forecasted FY2025 projection reflects 24% revenue and 32% Adjusted EBITDA* growth vs 2024. Serving large-scale and g
Slide 22: Appendix
Appendix CONFIDENTIAL 22
Slide 23: Experienced Executive Leadership Team
Experienced Executive Leadership Team APPENDIX Matthew S. Lanigan Gregg S. Piontek Lori Briggs Celeste Frugé President & Chief Executive Officer Chief Financial Officer Executive Vice President, Vice President, General Counsel, Business Operations Chief Compliance Officer & Corporate Secretary Matth
Slide 24: Consolidated Statements of Operations (unaudited)
Consolidated Statements of Operations (unaudited) APPENDIX CONFIDENTIAL 24
Slide 25: Consolidated Balance Sheets (unaudited)
Consolidated Balance Sheets (unaudited) APPENDIX CONFIDENTIAL 25
Slide 26: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) APPENDIX CONFIDENTIAL 26
Slide 27: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 27
Slide 28: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 28
Slide 29: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 29
Slide 30: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 30
Slide 31: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX CONFIDENTIAL 31
Slide 32: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX Adjusted Income (Loss) from Continuing Operations and Adjusted Income (Loss) from Continuing Operations Per Common Share TTM Consolidated September 30, (In thousands) 2022 2023 2024 2025 Income from continuing operations (GAAP) $ 822 $ 14,149 $ 35,599
Slide 33: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX EBITDA from Continuing Operations and Adjusted EBITDA from Continuing Operations TTM Consolidated September 30, (In thousands) 2022 2023 2024 2025 Revenues $ 192,993 $ 207,648 $ 217,489 $ 259,372 Operating income from continuing operations (GAAP) $ 6,
Slide 34: Non-GAAP Financial Measures (unaudited)
Non-GAAP Financial Measures (unaudited) APPENDIX The following table reconciles the Company’s net cash provided by (used in) operating activities calculated in accordance with GAAP to the non- GAAP financial measure of Free Cash Flow: TTM Consolidated September 30, (In thousands) 2022 2023 2024 2025