NPK Reports First Quarter 2025 Results

About this update from Npk International Inc.

THE WOODLANDS, TEXAS, May 01, 2025--(BUSINESS WIRE)--NPK International Inc. (NYSE: NPKI) ("NPK" or the "Company") today announced results for the first quarter ended March 31, 2025. FIRST QUARTER 2025 RESULTS (all comparisons versus the prior year period unless otherwise noted) MANAGEMENT COMMENTARY "We delivered another period of strong results during the first quarter, further building on our positive momentum exiting 2024, highlighted by growth in revenue and adjusted EBITDA of 32% and 59%, respectively," stated Matthew Lanigan, President and CEO of NPK International. "Our results were driven by meaningful growth in both rental and products sales, with rental revenue increasing 32% from last year to another single-quarter record, reflecting continued momentum in our core utilities transmission and critical infrastructure end markets. The demand trends in our key end-markets remain favorable and we also continue to see the effects of wood-to-composite mat conversion by fleet owners." "We remain committed to our long-term growth strategy, which emphasizes the expansion of our high-return rental business and expanding customer market share within our targeted markets," continued Lanigan. "The investments in our commercial capabilities are a critical aspect of our growth strategy and our progress in expanding our sales team and enhancing our effectiveness has been a key factor driving our recent growth momentum, as quoted volumes continue to grow meaningfully while award rates remain consistent with historical levels. Based on our strong first quarter results, continued execution of our growth strategy, consistent operating efficiency, and favorable near-term market trends, we are pleased to be raising our fiscal 2025 financial guidance." "A key driver of our value creation framework is our disciplined capital allocation strategy, and we were extremely pleased to be able to resume our share repurchase program during the first quarter, as we acquired 1.8 million shares, or 2% of our shares outstanding," continued Lanigan. "We remain committed to our balanced capital allocation strategy, one that combines investments into the organic growth of our rental fleet, evaluation of inorganic opportunities, and return of capital to shareholders. To support our strategy, our Board of Directors...

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