Cactus Announces First Quarter 2021 Results

Rhea-AI Summary

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.

Positive

• Revenue increased from $68.1 million in Q1 2020 to $84.4 million in Q1 2021.
• Net income of $15.1 million compared to $6.1 million in Q1 2020.
• Cash flow from operations of $15.7 million.
• Declared a quarterly cash dividend of $0.09 per share.

Negative

• None.

Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced financial and operating results for the first quarter of 2021.

First Quarter Highlights

• Revenue of $84.4 million;
• Income from operations of $11.6 million;
• Net income of $15.1 million⁽¹⁾ and diluted earnings per Class A share of $0.19⁽¹⁾;
• Net income, as adjusted⁽²⁾ of $8.6 million and diluted earnings per share, as adjusted⁽²⁾ of $0.11;
• Adjusted EBITDA⁽³⁾ and related margin⁽⁴⁾ of $22.8 million and 27.0%, respectively;
• Cash flow from operations of $15.7 million;
• Cash balance of $292.0 million and no bank debt outstanding as of March 31, 2021; and
• The Board of Directors ("the Board") declared a quarterly cash dividend of $0.09 per share.

   

Financial Summary

	Three Months Ended
	March 31,				December 31,				March 31,
	2021				2020				2020
	(in thousands)
Revenues	$	84,417			$	68,090			$	154,139
Income from operations	$	11,635			$	8,423			$	40,185
Operating income margin	13.8		%		12.4		%		26.1		%
Net income(1)	$	15,136			$	6,136			$	33,098

FAQ

What were Cactus, Inc.'s financial results for Q1 2021?

Cactus, Inc. reported revenues of $84.4 million, net income of $15.1 million, and diluted earnings per share of $0.19.

How much cash does Cactus, Inc. have as of March 31, 2021?

As of March 31, 2021, Cactus, Inc. had a cash balance of $292 million with no bank debt.

What is the dividend declared by Cactus, Inc. for Q1 2021?

Cactus, Inc. declared a quarterly cash dividend of $0.09 per share.

How does Cactus, Inc.'s Q1 2021 revenue compare to Q1 2020?

Cactus, Inc.'s revenue increased from $68.1 million in Q1 2020 to $84.4 million in Q1 2021.