Welcome to our dedicated page for Cactus news (Ticker: WHD), a resource for investors and traders seeking the latest updates and insights on Cactus stock.
Cactus, Inc. (symbol: WHD) is a prominent player in the oil and gas industry, specializing in the design, manufacture, and sale of surface wellheads and pressure control equipment. The company's core business revolves around its innovative products, including the Cactus SafeDrill wellhead systems, conventional wellheads, and production valves. These products are essential for the drilling, completion, and production of onshore unconventional oil and gas wells.
Cactus, Inc. maintains a robust inventory of frac trees and ancillary equipment for short-term rental. This allows them to meet the dynamic needs of their clients swiftly. They also offer comprehensive repair and refurbishment services, ensuring that their equipment remains in optimal condition throughout its lifecycle.
One of the key strengths of Cactus, Inc. lies in its mission-critical field services. The company provides highly skilled service crews to assist in the installation, maintenance, and safe handling of wellhead and pressure control equipment. This not only ensures the smooth operation of their products but also reinforces their commitment to safety and professionalism.
Operating through two main segments, Pressure Control and Spoolable Technologies, Cactus, Inc. generates significant revenue from its Pressure Control segment. This segment focuses on providing top-notch wellhead systems and pressure control equipment, which are vital for the oil and gas industry's operational efficiency.
Guided by a mission statement that emphasizes customer service and operational excellence, Cactus, Inc. aims to consistently outperform its peers. The company believes that unwavering commitment to safety, honesty, and professionalism will foster customer loyalty and maximize owner value.
Cactus (NYSE: WHD) reported Q3 2024 financial results with revenue of $293.2 million, up from $290.4 million in Q2. Net income was $62.4 million with diluted earnings per Class A share of $0.74. The company achieved an operating income of $76.8 million and Adjusted EBITDA of $100.4 million with a 34.2% margin. Cash flow from operations reached $85.3 million, with cash and cash equivalents of $303.4 million and no bank debt. The Board declared a quarterly cash dividend of $0.13 per Class A share.
Cactus, Inc. (NYSE: WHD) has announced the timing for its third quarter 2024 earnings release and conference call. The company will release its earnings report after market close on Wednesday, October 30, 2024. Following this, Cactus will host a conference call to discuss the financial and operational results on Thursday, October 31, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).
Investors and interested parties can access the webcast of the call on the company's website at www.CactusWHD.com. It is recommended to connect at least 10 minutes before the start time to ensure proper connection. An archived version of the call will be made available on the company's website shortly after its conclusion.
Cactus (NYSE: WHD) reported strong Q2 2024 results with revenue of $290.4 million and operating income of $79.8 million. The company achieved a net income of $63.1 million and diluted earnings per Class A share of $0.75. Adjusted EBITDA was $103.6 million with a 35.7% margin. Cactus maintained a strong financial position with $246.5 million in cash and no bank debt. The Board approved an 8% increase in the quarterly dividend to $0.13. The Pressure Control segment saw increased revenue due to higher customer drilling efficiencies, while Spoolable Technologies benefited from increased activity levels and lower input costs.
Cactus (NYSE: WHD) has announced the timing for its second quarter 2024 earnings release and conference call. The company will release its Q2 2024 earnings after market close on Wednesday, July 31, 2024. A conference call to discuss the financial and operational results is scheduled for Thursday, August 1, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Investors and interested parties can access the webcast on the company's website at www.CactusWHD.com. It is recommended to connect at least 10 minutes before the start time to ensure proper connection. An archived version of the call will be available on the website shortly after its conclusion.
Cactus (NYSE: WHD) has announced the appointment of Jay Nutt as Executive Vice President, Chief Financial Officer, and Treasurer, effective June 3, 2024.
Mr. Nutt brings extensive financial leadership experience, having served as Senior Vice President and CFO of ChampionX and its predecessor Apergy from 2018 to 2021.
He held various financial leadership roles at TechnipFMC plc and FMC Technologies, including Senior Vice President and Controller.
Mr. Nutt has degrees in accounting from Michigan State University and an MBA from Loyola University of Chicago.
Scott Bender, CEO and Chairman of Cactus, expressed confidence that Nutt's experience will benefit the company.
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.
FAQ
What is the current stock price of Cactus (WHD)?
What is the market cap of Cactus (WHD)?
What does Cactus, Inc. specialize in?
What are the principal products of Cactus, Inc.?
Does Cactus, Inc. offer rental services?
What field services does Cactus, Inc. provide?
What are the main operating segments of Cactus, Inc.?
What is the mission statement of Cactus, Inc.?
How does Cactus, Inc. ensure the quality of its equipment?
Is Cactus, Inc. involved in any partnerships?
What is the significance of the Pressure Control segment for Cactus, Inc.?
Who are the primary customers of Cactus, Inc.?
