Cactus Stock Price, News & Analysis

Cactus, Inc. (NYSE: WHD) announced that it will release its first quarter 2023 earnings before market open on May 9, 2023. A conference call to discuss the financial and operational results is scheduled for the same day at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Interested parties can access the call via a webcast on Cactus’ website, starting 10 minutes prior to the call for a seamless connection. An archived version will be available post-call.

Cactus specializes in the design, manufacture, and rental of essential equipment for oil and gas operations, servicing primarily onshore unconventional wells. The company operates service centers throughout North America and Australia, providing comprehensive support for customers' needs.

Cactus, Inc. (NYSE: WHD) has successfully completed its acquisition of FlexSteel Holdings, Inc. This strategic move aims to enhance Cactus's position as a leading manufacturer of spoolable pipe technologies. In conjunction with the acquisition, Cactus amended its credit facility to include a $125 million term loan and $225 million in revolving commitments, with $30 million already drawn. CEO Scott Bender expressed optimism about expanding their product offerings and capabilities. Cactus designs and manufactures engineered pressure control and spoolable pipe technologies, primarily for unconventional oil and gas wells across North America and Australia.

Cactus, Inc. (NYSE: WHD) reported strong financial results for Q4 and full year 2022. Revenue reached $187.8 million, with a net income of $40.7 million. The adjusted net income was $43.5 million, translating to an adjusted EPS of $0.57. Cactus maintained a robust net income margin of 21.7% and an adjusted EBITDA of $66.4 million with a margin of 35.4%. The company closed a stock offering for $165.6 million to support the pending acquisition of FlexSteel. A quarterly cash dividend of $0.11 per Class A share was also declared.

Cactus, Inc. (NYSE: WHD) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act regarding its acquisition of FlexSteel Technologies Holdings, Inc. The waiting period ended at 11:59 p.m. EST on February 6, 2023, with no intervention from the Federal Trade Commission or the U.S. Department of Justice. This step was necessary for the transaction to proceed, which is now subject to customary closing conditions expected to finalize in Q1 2023. Cactus specializes in wellhead and pressure control equipment, serving the oil and gas industry in the U.S. and Australia.

Cactus, Inc. (NYSE: WHD) will release its fourth quarter and full year 2022 earnings on February 22, 2023, after market close. A conference call to discuss financial results is scheduled for February 23, 2023, at 9:00 a.m. Central Time. The call will be available via webcast on the company's website. Cactus specializes in designing, manufacturing, and renting wellhead and pressure control equipment primarily for onshore unconventional oil and gas wells, offering services for installation and maintenance. The company operates service centers in the U.S. and Australia and serves international markets.

Cactus, Inc. (NYSE: WHD) has announced a quarterly cash dividend of $0.11 per share of Class A common stock, payable on March 16, 2023. The record date for shareholders is February 27, 2023. Additionally, a distribution of up to $0.11 per CW Unit has been approved for holders of Cactus Wellhead, LLC units. Future dividends are subject to board approval.

Cactus designs and manufactures equipment for the oil and gas industry, primarily for onshore unconventional wells, and provides related field services across the U.S., Australia, and select international markets.

On January 13, 2023, Cactus, Inc. (NYSE: WHD) successfully closed a $150 million follow-on public offering, co-managed by Pickering Energy Partners (PEP). This capital raise is part of PEP's ongoing efforts to support energy sector finance, having deployed over $16 billion across various energy sub-sectors. PEP is recognized for providing extensive services including investment banking, capital markets, and consulting, aiming for long-term value for clients in the energy landscape.