Cactus Stock Price, News & Analysis

Cactus, Inc. (NYSE: WHD) has announced a quarterly cash dividend increase of $0.11 per share of Class A common stock, marking a 10% rise. The dividend will be paid on March 17, 2022, to shareholders of record as of the close of business on February 28, 2022. This reflects the company's strong financial position, bolstered by a robust balance sheet and substantial free cash flow generation, allowing it to continue returning capital to shareholders.

Cactus, Inc. (NYSE: WHD) announced its Q3 2021 financial results, reporting revenue of $115.4 million, a 6% increase from the previous quarter. Net income reached $17.2 million with diluted earnings per share of $0.21. Adjusted EBITDA was $32.0 million with a margin of 27.7%. The company maintained a strong cash balance of $302 million and has no bank debt. A quarterly dividend of $0.10 per share was declared, payable on December 16, 2021. CEO Scott Bender expressed optimism for continued growth and market share gains amid inflationary pressures.

Cactus, Inc. (NYSE: WHD) will release its third quarter 2021 earnings on November 3, 2021, after market close. A conference call to discuss the results is scheduled for November 4, 2021, at 9:00 a.m. CT. Investors can participate via webcast or by calling (833) 665-0603 in the U.S. and (929) 517-0394 internationally. Cactus specializes in wellhead and pressure control equipment, serving the oil and gas sector, with operations in key U.S. regions and Eastern Australia.

Cactus, Inc. (NYSE: WHD) and National Energy Services Reunited Corp. (NASDAQ: NESR) have entered an agreement to provide and deploy Cactus frac rental equipment in the Middle East. This collaboration aims to leverage Cactus' innovative products and NESR's extensive market presence to enhance unconventional oil and gas development in the region. Cactus CEO Scott Bender expressed optimism about growth prospects, while NESR CEO Sherif Foda highlighted the significance of their partnership for delivering efficient services to customers. Both companies anticipate a significant value addition for their clients.

Cactus, Inc. (NYSE: WHD) reported robust second quarter results for 2021, with revenues of $108.9 million, a 29% sequential increase. Operating income rose to $17.3 million, up 49%. The company achieved a net income of $14.8 million or $0.18 per diluted share. Cash flow from operations was $27.5 million, and cash balance stood at $309.1 million with no debt. The Board approved an 11% increase in the quarterly cash dividend to $0.10 per share, payable on September 16, 2021. Significant revenue growth in the Product and Rental segments was observed, enhancing shareholder returns.

Cactus, Inc. (NYSE: WHD) will release its second quarter 2021 earnings after the market closes on July 28, 2021. A conference call discussing the financial and operational results is scheduled for July 29, 2021, at 9:00 a.m. CT. Investors can join the call via phone or watch a webcast on the company's website. Cactus specializes in the design, manufacture, and rental of wellhead and pressure control equipment for oil and gas wells, providing services across key U.S. regions and in Eastern Australia.

Cactus, Inc. announced a transfer of limited liability company interests and shares between Cadent Energy Partners II, L.P. and its affiliated entities. Cadent will redeem approximately 3.3 million CW Units for an equal number of Class A common stock shares, with these shares subsequently distributed to its limited partners. The transactions will see the cancellation of 3.3 million CW Units and shares of Class B stock. Post-transfer, Cactus will have approximately 58 million Class A shares and nearly 17.7 million Class B shares outstanding, which maintains the current total voting shares.

Cactus, Inc. (NYSE: WHD) announced the appointment of Mr. Tym Tombar to its Board of Directors, effective July 1, 2021. Tombar, a co-founder of Arcadius Capital Partners, has extensive experience in energy private equity and investment banking. His expertise is expected to enhance the board's capabilities. Following this appointment, the board now consists of nine members, including six independent directors. Cactus specializes in designing and manufacturing wellhead and pressure control equipment, serving major oil and gas regions in the U.S. and Eastern Australia.

Cactus, Inc. (NYSE: WHD) reported financial results for Q1 2021, achieving revenues of $84.4 million. The company posted an operating income of $11.6 million and net income of $15.1 million, resulting in diluted earnings per share of $0.19. Adjusted net income stood at $8.6 million, with a cash flow from operations of $15.7 million. Cactus maintains a strong balance sheet with $292 million in cash and no bank debt. Additionally, the Board declared a quarterly cash dividend of $0.09 per share.