Cactus Announces First Quarter 2021 Results
Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced financial and operating results for the first quarter of 2021.
First Quarter Highlights
-
Revenue of
$84.4 million ; -
Income from operations of
$11.6 million ; -
Net income of
$15.1 million (1) and diluted earnings per Class A share of$0.19 (1); -
Net income, as adjusted(2) of
$8.6 million and diluted earnings per share, as adjusted(2) of$0.11 ; -
Adjusted EBITDA(3) and related margin(4) of
$22.8 million and27.0% , respectively; -
Cash flow from operations of
$15.7 million ; -
Cash balance of
$292.0 million and no bank debt outstanding as of March 31, 2021; and -
The Board of Directors ("the Board") declared a quarterly cash dividend of
$0.09 per share.
Financial Summary
|
Three Months Ended |
||||||||||
|
March 31, |
|
December 31, |
|
March 31, |
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|
2021 |
|
2020 |
|
2020 |
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|
(in thousands) |
||||||||||
Revenues |
$ |
84,417 |
|
|
$ |
68,090 |
|
|
$ |
154,139 |
|
Income from operations |
$ |
11,635 |
|
|
$ |
8,423 |
|
|
$ |
40,185 |
|
Operating income margin |
13.8 |
% |
|
12.4 |
% |
|
26.1 |
% |
|||
Net income(1) |
$ |
15,136 |
|
|
$ |
6,136 |
|
|
$ |
33,098 |
|
| |||||||||||
