Cactus Stock Price, News & Analysis

Cactus, Inc. (NYSE: WHD) announced an underwritten offering of $125 million of Class A common stock. An option for underwriters to purchase up to $18.75 million of additional shares is included. The net proceeds will finance part of the acquisition of FlexSteel Technologies Holdings, Inc.. The offering is made under an automatic shelf registration statement with the SEC and is managed by J.P. Morgan as the sole book-running manager.

Cactus, Inc. (WHD) has announced the acquisition of FlexSteel Technologies Holdings, Inc. for approximately $621 million, expected to be accretive to the company's financial metrics in the first year. This strategic move enhances Cactus' position in the E&P industry by integrating highly engineered spoolable pipe technologies, which promise cost efficiencies and growth potential in emerging markets. FlexSteel reported revenues of about $265 million for the last nine months, and the transaction will be financed through cash and bridge financing.

Cactus, Inc. (NYSE: WHD) announced its third quarter 2022 results, reporting revenue of $184.5 million, a net income of $41.5 million, and diluted earnings per share of $0.51. Adjusted EBITDA rose to $62.7 million with a margin of 34.0%. Product revenue grew by 8.5% sequentially, driven by increased drilling activity. The company maintains a strong cash position of $320.6 million with no bank debt. A quarterly dividend of $0.11 per share will be paid on December 15, 2022. The company forecasts continued growth in the fourth quarter.

Cactus, Inc. (NYSE: WHD) will release its third quarter 2022 earnings on November 7, 2022, before market opening. A conference call to discuss financial and operational results is scheduled for the same day at 9:00 a.m. Central Time. Interested parties can access the call via webcast on the company's website, with availability of an archived version post-call. Cactus specializes in designing and manufacturing wellhead and pressure control equipment for oil and gas wells, along with providing related field services.

Cactus, Inc. (NYSE: WHD) reported strong second-quarter results for 2022, with revenues of $170.2 million and net income of $35.8 million, yielding a net income margin of 21.0%. Adjusted EBITDA reached $55.5 million, representing a margin of 32.6%. Growth was driven by a 19.3% increase in product revenue, attributed to heightened drilling activity. The company's cash balance as of June 30, 2022, stood at $311.7 million with no bank debt. A quarterly dividend of $0.11 per share has been approved, reflecting shareholders' return strategy.

Cactus, Inc. (NYSE: WHD) will announce its second quarter 2022 earnings before market open on August 4, 2022. A conference call will follow at 9:00 a.m. CT to discuss the financial and operational results. Investors can access the call via webcast on the company's website. Cactus specializes in manufacturing and renting wellhead and pressure control equipment, primarily for unconventional oil and gas wells, and also offers field services across key U.S. oil and gas regions and in Australia and Saudi Arabia.

Cactus, Inc. (NYSE: WHD) reported strong financial results for Q1 2022, with revenues of $145.9 million and net income of $27.1 million, reflecting an 18.6% net income margin. Adjusted EBITDA reached $42.3 million, highlighting a 29.0% margin. The company reported a cash balance of $297.7 million and no bank debt. Revenue growth stemmed from improved customer activity and product margins. A quarterly dividend of $0.11 per share was declared, payable on June 16, 2022. Cactus anticipates continued revenue growth across its business lines for Q2 2022.

Cactus, Inc. (NYSE: WHD) announced its first quarter 2022 earnings release will occur after market close on May 4, 2022. The Company will host a conference call to discuss the results on May 5, 2022, at 9:00 a.m. Central Time. Interested parties can access the call via webcast on Cactus' website or by phone. Cactus primarily offers wellhead and pressure control equipment designed for unconventional oil and gas wells, with operations across key U.S. regions and in Saudi Arabia.

Cactus, Inc. (NYSE: WHD) reported Q4 2021 revenues of $129.9 million and net income of $20.4 million, resulting in a net income margin of 15.7%. Adjusted EBITDA reached $36.6 million, with a margin of 28.2%. The board declared a quarterly cash dividend of $0.11 per share. Sequential gains were noted in product and rental revenues, increasing by 11.9% and 25.9%, respectively. As of December 31, 2021, Cactus had a strong cash position of $301.7 million and no bank debt. Expectations for Q1 2022 indicate continued revenue growth driven by robust oilfield activity.