NPK International reported second-quarter 2026 results with revenue of $81.6 million, up 20% year-over-year, and income from continuing operations of $12.0 million, or $0.14 per diluted share. Adjusted EBITDA from continuing operations was $25.7 million (31.5% margin). The company raised full-year 2026 guidance and reiterated capital allocation priorities including rental fleet growth and a manufacturing expansion.

Financial Highlights

  • Revenues: $81.6 million for Q2 2026, a 20% increase versus Q2 2025 ($68.2 million).
  • Gross margin: 37.0% for Q2 2026.
  • Operating income from continuing operations: $16.1 million; operating margin 19.7%.
  • Income from continuing operations: $12.0 million; diluted EPS from continuing operations $0.14.
  • Adjusted EBITDA from continuing operations: $25.7 million; adjusted EBITDA margin 31.5%.

Business Highlights

  • Revenue mix and growth: Specialty rental and related services revenues rose to $54.0 million in Q2 2026 with record rental revenue; product sales reached $28.0 million — highest quarterly product sales in two years.
  • Operational efficiency: SG&A improved to 17.4% of revenue, a 260 basis-point improvement year-over-year; Adjusted EBITDA margin improved by 400 basis points versus prior-year quarter.
  • Manufacturing expansion: Advancing Carencro, Louisiana expansion to increase capacity by ~50%; invested $4.1 million in Q2 toward an expected $40–$45 million total, with start-up targeted by mid-2027.
  • Capital allocation priorities: Continued investment focus on rental fleet growth and manufacturing capacity, selective M&A, and disciplined share repurchases; available liquidity under bank facility ~ $148 million as of June 30, 2026.

Original SEC Filing:

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