Cactus, Inc. - WHD STOCK NEWS

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.

Cactus, Inc. (NYSE: WHD) will release its first quarter 2021 earnings after market close on May 5, 2021. A conference call to discuss financial and operational results is scheduled for May 6, 2021, at 9:00 a.m. CT (10:00 a.m. ET). The call will be accessible via webcast on the company's website. Cactus specializes in wellhead and pressure control equipment used in onshore oil and gas wells across various U.S. regions and Eastern Australia.

Cactus, Inc. (NYSE: WHD) has priced an underwritten secondary offering of 5,500,000 shares of its Class A common stock, resulting in gross proceeds of $173.3 million for selling stockholders. An additional 825,000 shares may be purchased by underwriters within 30 days. The offering is set to close on March 12, 2021, subject to customary conditions. Cactus will not receive any proceeds from this sale. Citigroup and Credit Suisse are the lead managers for this offering, which is made under an existing SEC registration statement.

Cactus, Inc. (NYSE: WHD) announced an underwritten secondary offering of 5,500,000 shares of its Class A common stock by certain selling stockholders. Additionally, the selling stockholders may grant underwriters a 30-day option to purchase up to 825,000 more shares at the public offering price. Cactus will not receive any proceeds from the sale. Citigroup and Credit Suisse are the joint book-running managers for this offering, which is made under an automatic shelf registration statement filed with the SEC.

Cactus, Inc. (NYSE: WHD) reported its fourth quarter and full year 2020 results, showing a revenue of $68.1 million and net income of $6.1 million. Adjusted EBITDA stood at $19.8 million with a margin of 29.1%. The company maintained a strong cash position with $288.7 million and no debt. Cactus achieved a market share of 43% in U.S. land rigs, driven by increased drilling activity. A quarterly cash dividend of $0.09 was declared for March 2021. Looking ahead, the company anticipates double-digit revenue growth across all business lines in early 2021.

Cactus, Inc. (NYSE: WHD) will release its fourth quarter and full year 2020 earnings on February 24, 2021, post-market. The conference call to discuss these results is scheduled for February 25, 2021, at 9:00 a.m. Central Time. Interested parties can listen to the call via webcast on Cactus' website or by dialing in. Cactus specializes in engineering wellhead and pressure control equipment primarily for the oil and gas sector, providing essential services across major U.S. oil and gas producing regions.

Cactus, Inc. (NYSE: WHD) has announced a cash dividend of $0.09 per share of Class A common stock, payable on March 18, 2021, to stockholders on record as of March 1, 2021. A corresponding distribution of $0.09 per CW Unit has also been approved for holders of CW Units. Future dividends and amounts will require Board approval. Cactus specializes in highly engineered wellhead and pressure control equipment, serving onshore unconventional oil and gas wells across key U.S. regions and in Eastern Australia.