Cactus Q1 2023 Earnings Report

Cactus EPS Results

• Actual EPS: $0.64
• Consensus EPS: $0.56
• Beat/Miss: Beat by +$0.08
• One Year Ago EPS: $0.30

Cactus Revenue Results

• Actual Revenue: $228.40 million
• Expected Revenue: $217.45 million
• Beat/Miss: Beat by +$10.95 million
• YoY Revenue Growth: +56.50%

Cactus Announcement Details

• Quarter: Q1 2023
• Date: 5/9/2023
• Time: Before Market Opens

Cactus (NYSE:WHD), together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells. This segment also provides field services to install, maintain, and handle the equipment. The Spoolable Technologies segment designs, manufactures, and sells spoolable pipes and associated end fittings under the FlexSteel brand name. Its products are primarily used to transport oil, gas, and other liquids. This segment also provides field services and rental items through service centers and pipe yards, as well as offers equipment and services internationally. In addition, the company offers repair and refurbishment services. Cactus, Inc. was founded in 2011 and is headquartered in Houston, Texas.