Cactus, Inc. ( (WHD) ) has released its Q1 earnings. Here is a breakdown of the information Cactus, Inc. presented to its investors.
Cactus, Inc. is a company specializing in the design, manufacturing, and rental of pressure control and spoolable pipe technologies, primarily serving the onshore unconventional oil and gas industry. The company operates service centers across North America and Australia, with a focus on providing equipment and services for drilling, completion, and production phases.
In the first quarter of 2025, Cactus, Inc. reported a revenue of $280.3 million and an operating income of $68.6 million. The company achieved a net income of $54.1 million, with diluted earnings per Class A share of $0.64. The adjusted net income stood at $58.8 million, translating to an adjusted earnings per share of $0.73. The company also declared a quarterly cash dividend of $0.13 per Class A share.
Key financial highlights include an adjusted EBITDA of $93.8 million, reflecting a margin of 33.5%. The company’s cash and cash equivalents amounted to $347.7 million, with no outstanding bank debt. The Pressure Control segment saw a revenue increase of 7.7% sequentially, while Spoolable Technologies experienced a 3.6% decline due to seasonal factors. Cactus also made a significant supply chain investment in Vietnam to enhance manufacturing capacity.
Looking ahead, Cactus anticipates a decline in the U.S. land rig count due to lower commodity prices and economic uncertainties. The company expects modest revenue declines in Pressure Control and seasonal sales expansion in Spoolable Technologies. Despite tariff-related challenges, Cactus is taking measures to mitigate impacts and remains confident in navigating the market with its strong balance sheet and diversified supply chain.