Cactus Stock Price, News & Analysis

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.

Cactus, Inc. (NYSE: WHD) has announced the pricing of an underwritten offering of 2,803,739 shares of its Class A common stock, totaling approximately $150 million. An additional 420,561 shares may be purchased by underwriters at the public offering price. The offering is set to close on January 13, 2023 and will finance part of Cactus's acquisition of FlexSteel Technologies Holdings, Inc. and its affiliates. J.P. Morgan, BofA, and others are managing the offering under an automatic shelf registration statement.

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.