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Cactus Inc. (WHD) is a leading designer and manufacturer of wellheads and pressure control systems for onshore oil and gas operations. This page provides investors and industry professionals with direct access to the company’s official announcements, financial disclosures, and operational developments.
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Cactus (NYSE: WHD) reported strong Q2 2024 results with revenue of $290.4 million and operating income of $79.8 million. The company achieved a net income of $63.1 million and diluted earnings per Class A share of $0.75. Adjusted EBITDA was $103.6 million with a 35.7% margin. Cactus maintained a strong financial position with $246.5 million in cash and no bank debt. The Board approved an 8% increase in the quarterly dividend to $0.13. The Pressure Control segment saw increased revenue due to higher customer drilling efficiencies, while Spoolable Technologies benefited from increased activity levels and lower input costs.
Cactus (NYSE: WHD) has announced the timing for its second quarter 2024 earnings release and conference call. The company will release its Q2 2024 earnings after market close on Wednesday, July 31, 2024. A conference call to discuss the financial and operational results is scheduled for Thursday, August 1, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Investors and interested parties can access the webcast on the company's website at www.CactusWHD.com. It is recommended to connect at least 10 minutes before the start time to ensure proper connection. An archived version of the call will be available on the website shortly after its conclusion.
Cactus (NYSE: WHD) has announced the appointment of Jay Nutt as Executive Vice President, Chief Financial Officer, and Treasurer, effective June 3, 2024.
Mr. Nutt brings extensive financial leadership experience, having served as Senior Vice President and CFO of ChampionX and its predecessor Apergy from 2018 to 2021.
He held various financial leadership roles at TechnipFMC plc and FMC Technologies, including Senior Vice President and Controller.
Mr. Nutt has degrees in accounting from Michigan State University and an MBA from Loyola University of Chicago.
Scott Bender, CEO and Chairman of Cactus, expressed confidence that Nutt's experience will benefit the company.
Cactus, Inc. (NYSE: WHD) announced its financial results for the first quarter of 2024, reporting revenue of $274.1 million, operating income of $62.6 million, and net income of $49.8 million. The company declared a quarterly cash dividend of $0.12 per Class A share. Despite flat market activity, revenue exceeded expectations. Looking ahead, the company anticipates lower U.S. land activity levels in the second quarter but expects revenue to remain relatively flat in Pressure Control and increase slightly in Spoolable Technologies. Cactus remains cautious about the outlook for 2024 but is excited about internal cost improvement and revenue expansion opportunities.
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