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Cactus, Inc. (NYSE: WHD) announced its financial results for the first quarter of 2024, reporting revenue of $274.1 million, operating income of $62.6 million, and net income of $49.8 million. The company declared a quarterly cash dividend of $0.12 per Class A share. Despite flat market activity, revenue exceeded expectations. Looking ahead, the company anticipates lower U.S. land activity levels in the second quarter but expects revenue to remain relatively flat in Pressure Control and increase slightly in Spoolable Technologies. Cactus remains cautious about the outlook for 2024 but is excited about internal cost improvement and revenue expansion opportunities.