Cactus SEC Filings

Cactus, Inc. reported first‑quarter 2026 revenue of $388.3 million, up from $280.3 million a year earlier, driven mainly by the newly acquired Cactus International joint venture in the Pressure Control segment. Segment revenue reached $300.2 million in Pressure Control and $89.9 million in Spoolable Technologies.

Net income attributable to Cactus Inc. was $32.9 million, down from $44.2 million, but an $81.5 million non‑cash accretion on redeemable non‑controlling interest produced a net loss to common shareholders of $48.6 million, or $(0.70) per diluted share versus $0.64 last year. The Cactus International acquisition carried estimated consideration of $362.0 million and added $45.3 million of goodwill and $228.8 million of intangibles. Operating cash flow rose to $128.3 million, funding the acquisition and capital spending, as cash and equivalents ended at $291.6 million with no bank debt outstanding.

Cactus, Inc. reported first quarter 2026 results showing strong top-line growth following its acquisition of a majority interest in Baker Hughes’ Surface Pressure Control business, now called Cactus International.

Revenue reached $388.3 million, up from both the prior quarter and prior year, with Adjusted EBITDA of $100.1 million and an adjusted EBITDA margin of 25.8%. GAAP net income was $40.2 million, but accretion related to redeemable non-controlling interest produced a diluted GAAP loss per Class A share of $(0.70), while diluted earnings per share, as adjusted, were $0.70.

Pressure Control revenue rose sharply on the Cactus International contribution, though margins compressed due to purchase price accounting items. Spoolable Technologies delivered higher revenue and operating income. The company ended the quarter with $291.6 million of cash, no bank debt, backlog of $537.5 million, and declared a quarterly dividend of $0.14 per Class A share.

FMR LLC filed an Amendment No. 6 to Schedule 13G/A reporting beneficial ownership of 2,403,386.55 shares of Cactus Inc Class A common stock, representing 3.5% of the class. The filing lists sole dispositive power for 2,403,386.55 shares and shows FMR and Abigail P. Johnson as reporting persons. The filing references an Exhibit 99 agreement and a power of attorney incorporated by reference.

Cactus Inc ownership disclosure: Vanguard Capital Management reports beneficial ownership of 3,592,353 shares of Cactus Inc common stock (CUSIP 127203107), equal to 5.21% of the class. The filer reports sole voting power over 516,955 shares and sole dispositive power over 3,592,353 shares. The filing is signed by Ashley Grim, Head of Global Fund Administration, dated 04/29/2026.

Cactus Inc filing shows Vanguard Portfolio Management reports beneficial ownership of 4,223,000 shares of Common Stock, representing 6.12% of the class. The filing states Vanguard has sole dispositive power over 4,223,000 shares and sole voting power over 59,607 shares as reported.

Cactus, Inc. is asking shareholders to vote at its virtual 2026 annual meeting on May 12, 2026 at 9:00 a.m. Central Time. Holders of Class A and Class B common stock as of March 18, 2026, voting together as a single class, may participate online via a 16-digit control number.

Shareholders will elect three Class II and two Class III directors for one-year terms as part of the Board’s ongoing declassification, including new independent nominee Tana Utley. They will also vote on ratifying PricewaterhouseCoopers LLP as independent auditor for 2026 and on an advisory resolution approving named executive officer compensation.

The proxy describes a pay-for-performance philosophy with significant at-risk compensation. For 2025, annual bonuses for executives were tied mainly to Adjusted EBITDA, operating capital employed divided by revenue, and total recordable incident rate, while long‑term incentives combined performance stock units based on return on capital employed with time-based restricted stock units.

Cactus, Inc. reported that director Bruce Rothstein informed the company on March 24, 2026 that he will not stand for re-election at the 2026 Annual Meeting of Stockholders. His decision is expressly stated as not stemming from any disagreement over operations, policies or practices.

The Board of Directors decided to reduce its size to eight directors, effective immediately before the 2026 Annual Meeting. This reflects a planned board transition rather than an abrupt departure or governance dispute.

The Vanguard Group filed Amendment No. 9 to a Schedule 13G/A reporting zero beneficial ownership of Cactus Inc common stock. The filing states 0 shares and 0% ownership and explains an internal realignment on January 12, 2026 that led certain Vanguard subsidiaries to report holdings separately.

The filing is signed by Ashley Grim, Head of Global Fund Administration, dated 03/26/2026.

Cactus, Inc. filed an amended current report to add detailed financial information for its acquisition of 65% of Baker Hughes Pressure Control LLC, the Surface Pressure Control business. The amendment supplies audited 2024 special purpose statements and unaudited nine‑month 2025 data, showing SPC revenue of $503 million in 2024 and $469 million for the nine months ended September 30, 2025.

The filing also presents unaudited pro forma condensed combined financials prepared under ASC 805. Cactus records preliminary purchase consideration of $382.0 million, including $371.0 million cash and deferred payment, recognizes $190.2 million of identifiable intangibles, $95.3 million of goodwill, a $28.2 million inventory step‑up and a $150.0 million mezzanine non‑controlling interest for Baker Hughes’ 35% stake.