It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Cactus, Inc. (WHD - Free Report) Along with its consolidated affiliates, Cactus Inc is involved in manufacturing, designing and selling wellhead and pressure control equipment. The products are being utilized by customers for drilling and completing onshore oil and natural gas wells. The equipment are also used by upstream energy companies during production phases in oil and gas wells. Thus, Cactus, headquartered in Houston, TX, generates significant cashflow from selling and renting wellhead and pressure control equipment.
WHD is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Oils-Energy stock. WHD has a Momentum Style Score of B, and shares are up 9.8% over the past four weeks.
Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.12 to $2.92 per share. WHD boasts an average earnings surprise of +8.5%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, WHD should be on investors' short list.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Cactus, Inc. (WHD - Free Report) Along with its consolidated affiliates, Cactus Inc is involved in manufacturing, designing and selling wellhead and pressure control equipment. The products are being utilized by customers for drilling and completing onshore oil and natural gas wells. The equipment are also used by upstream energy companies during production phases in oil and gas wells. Thus, Cactus, headquartered in Houston, TX, generates significant cashflow from selling and renting wellhead and pressure control equipment.
WHD is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 18.92; value investors should take notice.
Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.12 to $2.92 per share. WHD also boasts an average earnings surprise of +8.5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, WHD should be on investors' short list.
Wall Street expects a year-over-year increase in earnings on higher revenues when Cactus, Inc. (WHD - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on July 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly earnings of $0.71 per share in its upcoming report, which represents a year-over-year change of +7.6%.
Revenues are expected to be $400.62 million, up 46.4% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.79% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Cactus?For Cactus, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +7.04%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that Cactus will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Cactus would post earnings of $0.65 per share when it actually produced earnings of $0.70, delivering a surprise of +7.69%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Cactus appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Bessemer Group Inc. lifted its position in shares of Cactus, Inc. (NYSE:WHD – Free Report) by 17.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 559,901 shares of the company’s stock after buying an additional 83,080 shares during the period. Bessemer Group Inc. owned 0.70% of Cactus worth $26,523,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Cactus by 20.0% in the 4th quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock valued at $181,074,000 after acquiring an additional 659,366 shares during the last quarter. State Street Corp boosted its holdings in shares of Cactus by 3.0% during the fourth quarter. State Street Corp now owns 2,844,994 shares of the company’s stock worth $129,959,000 after purchasing an additional 83,190 shares during the last quarter. Capital International Investors boosted its holdings in shares of Cactus by 27.0% during the fourth quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after purchasing an additional 498,210 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cactus by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock worth $89,729,000 after purchasing an additional 28,415 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Cactus by 17.4% in the fourth quarter. First Trust Advisors LP now owns 1,839,336 shares of the company’s stock valued at $84,021,000 after purchasing an additional 272,452 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.
Cactus Trading Up 1.6% Shares of WHD opened at $54.64 on Friday. The stock’s 50-day moving average is $56.13 and its two-hundred day moving average is $53.76. The stock has a market cap of $4.38 billion, a PE ratio of 51.55, a P/E/G ratio of 2.07 and a beta of 1.38. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $64.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71.
Cactus (NYSE:WHD – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $388.35 million during the quarter, compared to analyst estimates of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 earnings per share. Equities analysts forecast that Cactus, Inc. will post 2.92 earnings per share for the current fiscal year.
Cactus Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were given a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 annualized dividend and a yield of 1.0%. Cactus’s dividend payout ratio (DPR) is 52.83%.
More Cactus News Here are the key news stories impacting Cactus this week:
Positive Sentiment: Zacks Research raised its earnings forecasts for Cactus across multiple future periods, including FY2027 to $3.55 per share and FY2028 to $3.99 per share, implying improved outlook and potentially supporting the stock. Positive Sentiment: Analysts also increased near- and medium-term quarterly EPS estimates, including Q4 2026, Q2 2027, Q3 2027, Q4 2027, Q1 2028, and Q2 2028, reinforcing expectations for steady earnings growth. Neutral Sentiment: Cactus announced it will release second-quarter 2026 earnings after market close on July 29 and host a conference call on July 30, setting up a near-term event that could move the shares depending on results. Article Title Analyst Ratings Changes Several research firms recently commented on WHD. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price (up from $66.00) on shares of Cactus in a research note on Tuesday, June 16th. Wall Street Zen lowered shares of Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Piper Sandler upped their price target on Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings upgraded Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, Barclays boosted their target price on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.60.
Get Our Latest Research Report on WHD
Insider Buying and Selling In other news, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the sale, the director owned 15,990 shares in the company, valued at $904,554.30. This trade represents a 42.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan Semple sold 10,206 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total transaction of $577,863.72. Following the transaction, the director directly owned 29,444 shares in the company, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 12.91% of the company’s stock.
Cactus Company Profile (Free Report)
Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.
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HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced that it will issue its second quarter 2026 earnings release after market close on Wednesday, July 29, 2026. The Company will host a conference call to discuss financial and operational results on Thursday, July 30, 2026 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).
The call will be webcast on Cactus’ website at www.CactusWHD.com. Please access the webcast at least 10 minutes ahead of the start time to ensure a proper connection. An archived version will be available on the Company’s website shortly after the end of the call.
About Cactus, Inc.
Cactus designs, manufactures, sells or rents a range of highly engineered pressure control and spoolable pipe technologies. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for its products and rental items to assist with the installation, maintenance and handling of the equipment. Cactus operates service centers and manufacturing facilities globally with an emphasis in North America and the Middle East.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Cactus, Inc. (WHD - Free Report) Along with its consolidated affiliates, Cactus Inc is involved in manufacturing, designing and selling wellhead and pressure control equipment. The products are being utilized by customers for drilling and completing onshore oil and natural gas wells. The equipment are also used by upstream energy companies during production phases in oil and gas wells. Thus, Cactus, headquartered in Houston, TX, generates significant cashflow from selling and renting wellhead and pressure control equipment.
WHD is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 16.93; value investors should take notice.
Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.04 to $2.88 per share. WHD also boasts an average earnings surprise of +8.5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, WHD should be on investors' short list.
On June 29, 2026, Cactus Inc (WHD) shares fell 4.7% to a current price of $49.59. This decline is notable as the stock has traded within a 52-week range of $33.
Capital International Investors increased its stake in Cactus, Inc. (NYSE: WHD) by 2.9% in the undefined quarter, according to the company in its most recent filing with the SEC. The fund owned 1,845,521 shares of the company's stock after purchasing an additional 52,139 shares during the quarter. Capital International Investors owned approximately 2.31%
Webs Creek Capital Management bought 1,263,873 shares of Cactus in the fourth quarter. The quarter-end position value increased by $57.73 million as a result of the new position.
Cactus, Inc. (NYSE: WHD - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target
Allspring Global Investments Holdings LLC lowered its holdings in shares of Cactus, Inc. (NYSE:WHD – Free Report) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,233 shares of the company’s stock after selling 20,327 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.28% of Cactus worth $10,546,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after buying an additional 259 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Cactus during the third quarter valued at $25,000. Johnson Financial Group Inc. bought a new stake in Cactus in the third quarter worth $33,000. Advisors Asset Management Inc. boosted its holdings in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after acquiring an additional 543 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Cactus by 55.4% in the third quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after acquiring an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.
Insider Buying and Selling In other Cactus news, President Joel Bender sold 106,809 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total value of $5,331,905.28. Following the completion of the transaction, the president owned 27,793 shares of the company’s stock, valued at approximately $1,387,426.56. This trade represents a 79.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 200,000 shares of company stock valued at $10,039,080. 13.75% of the stock is owned by company insiders.
Cactus Price Performance WHD stock opened at $47.78 on Monday. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $59.25. The company has a 50-day moving average price of $52.42 and a 200 day moving average price of $46.65. The stock has a market cap of $3.82 billion, a PE ratio of 19.91, a P/E/G ratio of 4.73 and a beta of 1.31. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01.
Cactus (NYSE:WHD – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The firm had revenue of $261.20 million for the quarter, compared to analysts’ expectations of $250.60 million. During the same period in the prior year, the business posted $0.71 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current year.
Cactus Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 2nd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, March 2nd. Cactus’s dividend payout ratio (DPR) is presently 23.33%.
Analyst Ratings Changes WHD has been the subject of several analyst reports. Wall Street Zen downgraded shares of Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Piper Sandler started coverage on Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 target price on the stock. Barclays lifted their target price on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Zacks Research cut Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.33.
Check Out Our Latest Analysis on WHD
Cactus Profile (Free Report)
Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.
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HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced that it will issue its first quarter 2026 earnings release after market close on Wednesday, May 6, 2026. The Company will host a conference call to discuss financial and operational results on Thursday, May 7, 2026 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).
The call will be webcast on Cactus’ website at www.CactusWHD.com. Please access the webcast at least 10 minutes ahead of the start time to ensure a proper connection. An archived version will be available on the Company’s website shortly after the end of the call.
About Cactus, Inc.
Cactus designs, manufactures, sells or rents a range of highly engineered pressure control and spoolable pipe technologies. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for its products and rental items to assist with the installation, maintenance and handling of the equipment. Cactus operates service centers and manufacturing facilities globally with an emphasis in North America and the Middle East.
Cactus, Inc. (WHD - Free Report) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 6. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of -21.9%.
Revenues are expected to be $380.81 million, up 35.9% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.49% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Cactus?For Cactus, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +7.02%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Cactus will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Cactus would post earnings of $0.58 per share when it actually produced earnings of $0.65, delivering a surprise of +12.07%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Cactus appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerCactus, Inc. (WHD - Free Report) , another stock in the Zacks Oil and Gas - Integrated - United States industry, is expected to report earnings per share of $0.57 for the quarter ended March 2026. This estimate points to a year-over-year change of -21.9%. Revenues for the quarter are expected to be $380.81 million, up 35.9% from the year-ago quarter.
The consensus EPS estimate for Cactus has been revised 0.5% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +7.02%.
This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Cactus will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Cactus, Inc. (WHD - Free Report) , which belongs to the Zacks Oil and Gas - Integrated - United States industry, could be a great candidate to consider.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 13.79%.
For the last reported quarter, Cactus came out with earnings of $0.65 per share versus the Zacks Consensus Estimate of $0.58 per share, representing a surprise of 12.07%. For the previous quarter, the company was expected to post earnings of $0.58 per share and it actually produced earnings of $0.67 per share, delivering a surprise of 15.52%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Cactus. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Cactus currently has an Earnings ESP of +7.02%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on May 6, 2026.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced financial and operating results for the first quarter of 2026.
First Quarter Highlights
On January 1, 2026, Cactus closed on its previously announced acquisition of a majority interest in Baker Hughes' Surface Pressure Control business (“Cactus International”); Revenue of $388.3 million and operating income of $49.5 million; Net income of $40.2 million and diluted loss per Class A share of $0.70; Adjusted net income(1) of $56.2 million and diluted earnings per share, as adjusted(1) of $0.70; Net income margin of 10.4% and adjusted net income margin(1) of 14.5%; Adjusted EBITDA(2) and Adjusted EBITDA margin(2) of $100.1 million and 25.8%, respectively; Cash flow from operations of $128.3 million; and Cash and cash equivalents of $291.6 million, including $97.8 million of cash retained to finalize certain legal restructuring activities related to the Cactus International acquisition, with no bank debt outstanding as of March 31, 2026. Financial Summary
Three Months Ended
March 31,
December 31,
March 31,
2026
2025
2025
(in thousands)
Revenues
$
388,349
$
261,203
$
280,319
Operating income(3)
$
49,504
$
59,850
$
68,612
Operating income margin
12.7
%
22.9
%
24.5
%
Net income
$
40,221
$
48,302
$
54,105
Net income margin
10.4
%
18.5
%
19.3
%
Adjusted net income(1)
$
56,172
$
52,134
$
58,816
Adjusted net income margin(1)
14.5
%
20.0
%
21.0
%
Adjusted EBITDA(2)
$
100,050
$
85,493
$
93,841
Adjusted EBITDA margin(2)
25.8
%
32.7
%
33.5
%
Scott Bender, CEO and Chairman of the Board of Cactus, commented, “We achieved solid results in the first quarter of 2026 driven by disciplined execution. I am particularly pleased with the strong performance of the Spoolable Technologies segment in the quarter, as both revenues and margins exceeded expectations following a strong close to the quarter both domestically and abroad. Pressure Control results, which now include Cactus International, were in line with expectations despite the initial impacts of the conflict in the Middle East.
“We anticipate that the U.S. land rig count will be flat to up in the second quarter, as our customer base maintains capital discipline despite dramatically higher commodity prices. However, the sentiment among even our larger customers has recently turned more bullish. We expect second quarter Pressure Control revenues to be approximately flat as the Middle East conflict and associated logistics disruptions impacts our business, but is offset by domestic strength. Activity in our Spoolable Technologies segment should increase in the second quarter, as recent U.S. customer inquiries point toward continued momentum in the business, particularly for our higher diameter offerings.”
Mr. Bender concluded, “The global oil and gas market outlook has changed drastically in the past two months. Higher commodity prices have increased customer optimism in most of our markets. Despite numerous supply chain challenges, our team is working to meet our customers' needs. I would like to specially thank our new Cactus International associates for prioritizing safety while continuing to execute for our customers during this extraordinarily challenging time. Although the near-term activity outlook in the Middle East remains highly uncertain, I am confident in the positioning of our global business to participate in the upstream investment that will be required to restore market supply once the conflict abates.”
Segment Performance
We report two business segments, Pressure Control and Spoolable Technologies. Corporate and other expenses not directly attributable to either segment are presented separately as Corporate and Other expenses. Beginning this quarter, results of the Cactus International business are included in the Pressure Control segment.
Pressure Control
First quarter 2026 Pressure Control revenue increased $121.7 million, or 68.2%, sequentially, primarily due to the contribution of Cactus International. Operating income decreased $10.1 million, or 20.7%, sequentially, with margins decreasing 1,440 basis points, as increased operating income from Cactus International was more than offset by purchase price accounting-related adjustments. Adjustments included the amortization of the step-up of inventory and the amortization of the write-up of intangible values, which together totaled $19.0 million in the quarter. Adjusted Segment EBITDA increased $12.7 million, or 21.4%, sequentially, with Adjusted Segment EBITDA margins decreasing 930 basis points on the contribution of Cactus International at lower margins.
Spoolable Technologies
First quarter 2026 Spoolable Technologies revenues increased $5.7 million, or 6.8%, sequentially, due to higher domestic and international activity levels. Operating income increased $2.6 million, or 12.6%, sequentially, on higher volume, while margins increased 130 basis points. Adjusted Segment EBITDA was higher by $1.8 million, or 5.9%, sequentially, with Adjusted Segment EBITDA margins decreasing 30 basis points, as improved operating leverage was offset by higher input costs.
Corporate and Other Expenses
First quarter 2026 Corporate and Other expenses increased $2.9 million sequentially, primarily due to higher transaction and integration expenses. First quarter Corporate and Other expenses contained $5.8 million of transaction-related expenses resulting from the acquisition of Cactus International, $2.5 million higher than the fourth quarter.
Liquidity, Capital Expenditures and Other
As of March 31, 2026, the Company had $291.6 million of cash and cash equivalents, including $97.8 million of cash held for certain restructuring activities related to the Cactus International acquisition, no bank debt outstanding, and $223.7 million of availability on our revolving credit facility. Operating cash flow was $128.3 million for the first quarter of 2026. During the first quarter, the Company made dividend payments and associated distributions of $11.7 million.
Net cash used in investing activities represented $310.0 million for the first quarter, primarily attributable to the Cactus International acquisition. Net capital expenditures were $9.0 million during the first quarter of 2026. For the full year 2026, the Company still expects net capital expenditures to be in the range of $40 to $50 million.
Remaining Performance Obligations, or backlog, closed the quarter at $537.5 million. Backlog is primarily related to operations in our Cactus International business.
As of March 31, 2026, Cactus had 69,415,532 shares of Class A common stock outstanding (representing 86.6% of the total voting power) and 10,758,435 shares of Class B common stock outstanding (representing 13.4% of the total voting power).
Quarterly Dividend
The Board of Directors has approved a quarterly cash dividend of $0.14 per share of Class A common stock with payment to occur on June 18, 2026 to holders of record of Class A common stock at the close of business on June 1, 2026. A corresponding distribution of up to $0.14 per CC Unit has also been approved for holders of CC Units of Cactus Companies, LLC.
Conference Call Details
The Company will host a conference call to discuss financial and operational results tomorrow, Thursday May 7, 2026 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).
The call will be webcast on Cactus’ website at www.CactusWHD.com. Please access the webcast for the call at least 10 minutes ahead of the start time to ensure a proper connection. Analysts and institutional investors may click here to pre-register for the conference call.
An archived webcast of the conference call will be available on the Company’s website shortly after the end of the call.
About Cactus, Inc.
Cactus designs, manufactures, sells or rents a range of highly engineered pressure control and spoolable pipe technologies. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for its products and rental items to assist with the installation, maintenance and handling of the equipment. Cactus operates service centers and manufacturing facilities globally with an emphasis in North America and the Middle East.
Certain statements contained in this press release and oral statements made regarding the matters addressed in this release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Cactus’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Forward-looking statements can be identified by the use of forward-looking terminology including “may,” “believe,” “expect,” “intend,” “anticipate,” “plan,” “should,” “estimate,” “continue,” “potential,” “outlook,” “will,” “hope,” “opportunity,” or other similar words and include the Company’s expectation of future performance contained herein. These statements discuss future expectations, contain projections of results of operations or of financial condition, or state other “forward-looking” information. You are cautioned not to place undue reliance on any forward-looking statements, which can be affected by assumptions used or by risks or uncertainties. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other factors noted in the Company’s Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q and the other documents that the Company files with the Securities and Exchange Commission. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any forward-looking statement. Cactus disclaims any duty to update and does not intend to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
Cactus, Inc.
Condensed Consolidated Statements of Income
(unaudited)
Three Months Ended
March 31,
2026
2025
(in thousands, except per share data)
Revenues
Pressure Control
$
300,172
$
190,277
Spoolable Technologies
89,900
92,578
Corporate and other(1)
(1,723
)
(2,536
)
Total revenues
388,349
280,319
Operating income
Pressure Control
38,605
54,333
Spoolable Technologies
23,567
23,876
Total segment operating income
62,172
78,209
Corporate and other expenses
(12,668
)
(9,597
)
Total operating income
49,504
68,612
Interest income, net
220
2,325
Income before income taxes
49,724
70,937
Income tax expense
9,503
16,832
Net income
$
40,221
$
54,105
Less: net income attributable to non-controlling interest
7,315
9,882
Net income attributable to Cactus Inc.
$
32,906
$
44,223
Net income attributable to Cactus Inc.
$
32,906
$
44,223
Less: Accretion of redeemable non-controlling interest to redemption value
81,507
—
Net (loss) income attributable to Cactus Inc. including accretion of redeemable non-controlling interest to redemption value
$
(48,601
)
$
44,223
(Loss) earnings per Class A share - basic
$
(0.70
)
$
0.65
(Loss) earnings per Class A share - diluted(2)
$
(0.70
)
$
0.64
Weighted average shares outstanding - basic
69,026
68,194
Weighted average shares outstanding - diluted(2)
69,026
68,664
Cactus, Inc. Condensed Consolidated Balance Sheets
(unaudited)
March 31,
December 31,
2026
2025
(in thousands)
Assets
Current assets
Cash and cash equivalents
$
291,609
$
123,571
Restricted cash
—
371,011
Accounts receivable, net
459,954
164,493
Inventories
404,210
276,613
Prepaid expenses and other current assets
19,630
19,231
Total current assets
1,175,403
954,919
Property and equipment, net
394,976
342,592
Operating lease right-of-use assets, net
34,434
19,491
Intangible assets, net
364,278
148,004
Goodwill
248,334
203,028
Deferred tax asset, net
204,550 187,545
Investment in unconsolidated affiliates
5,946
5,923
Other noncurrent assets
30,160
10,115
Total assets
$
2,458,081 $
1,871,617
Liabilities, Mezzanine Equity, and Stockholders' Equity
Current liabilities
Accounts payable
$
315,781
$
71,541
Accrued expenses and other current liabilities
64,753
51,388
Contract liabilities
33,593
7,707
Current portion of liability related to tax receivable agreement
21,314
21,314
Finance lease obligations, current portion
7,669
7,476
Operating lease liabilities, current portion
7,977
4,815
Total current liabilities
451,087
164,241
Deferred tax liability, net
38,710
2,786
Liability related to tax receivable agreement, net of current portion
243,500
241,609
Finance lease obligations, net of current portion
9,661
9,672
Operating lease liabilities, net of current portion
29,927
15,786
Other noncurrent liabilities
38,935
4,475
Total liabilities
811,820
438,569
Mezzanine equity
Redeemable non-controlling interest
240,608
—
Total stockholders' equity
1,405,653 1,433,048
Total liabilities, mezzanine equity, and stockholders' equity
$
2,458,081 $
1,871,617
Cactus, Inc.
Condensed Consolidated Statements of Cash Flows
(unaudited)
Three Months Ended
March 31,
2026
2025
(in thousands)
Cash flows from operating activities
Net income
$
40,221
$
54,105
Reconciliation of net income to net cash provided by operating activities
Depreciation and amortization
36,761
15,678
Deferred financing cost amortization
639
280
Stock-based compensation
7,039
6,064
Provision for expected credit losses
1,060
133
Inventory obsolescence
2,397
(296
)
Gain on disposal of assets
(65
)
(79
)
Deferred income taxes
479
7,623
Changes in operating assets and liabilities:
Accounts receivable
(63,179
)
(28,087
)
Inventories
(3,224
)
(3,112
)
Prepaid expenses and other assets
(1,136
)
2,080
Accounts payable
100,406
(7,923
)
Accrued expenses and other liabilities
5,190
(4,921
)
Contract liabilities
1,683
—
Net cash provided by operating activities
128,271
41,545
Cash flows from investing activities
Acquisition of a business, net of cash and cash equivalents acquired
(301,011
)
—
Investment in unconsolidated affiliate
—
(6,000
)
Capital expenditures and other
(9,724
)
(10,230
)
Proceeds from sales of assets
746
779
Net cash used in investing activities
(309,989
)
(15,451
)
Cash flows from financing activities
Payments on finance leases
(1,914
)
(1,988
)
Dividends paid to Class A common stock shareholders
(10,214
)
(9,216
)
Distributions to members
(1,502
)
(5,089
)
Repurchases of shares
(7,899
)
(5,498
)
Net cash used in financing activities
(21,529
)
(21,791
)
Effect of exchange rate changes on cash and cash equivalents
274
515
Net increase in cash and cash equivalents
(202,973
)
4,818
Cash, cash equivalents and restricted cash
Beginning of period
494,582
342,843
End of period
$
291,609
$
347,661
Cactus, Inc. – Supplemental Information
Reconciliation of GAAP to non-GAAP Financial Measures
Adjusted net income, diluted earnings per share, as adjusted and adjusted net income margin
(unaudited)
Adjusted net income, diluted earnings per share, as adjusted and adjusted net income margin are not measures of net income as determined by GAAP but they are supplemental non-GAAP financial measures that are used by management and external users of the Company’s consolidated financial statements. Cactus defines adjusted net income as net income subject to the adjustments described in the table below. Among other things, those adjustments exclude income attributable to non-controlling interests in the Company's businesses, with the exception of income attributable to the non-controlling interests in the Company's principal operating subsidiary, Cactus Companies LLC. For these interests, Adjusted net income assumes Cactus, Inc. held all units in its principal operating subsidiary throughout the entire period, with net income reduced by the resulting additional income tax expense related to the incremental income attributable to Cactus, Inc. Cactus defines diluted earnings per share, as adjusted as Adjusted net income divided by weighted average shares outstanding, as adjusted. Cactus defines Adjusted net income margin as Adjusted net income divided by total revenue. The Company believes this supplemental information is useful for evaluating performance period over period.
Three Months Ended
March 31,
December 31,
March 31,
2026
2025
2025
(in thousands, except per share data)
Net income
$
40,221
$
48,302
$
54,105
Adjustments:
Severance expenses(1)
934
164
—
Loss from revaluation of liability related to tax receivable agreement and other(2)
—
1,015
—
Transaction related expenses(3)
5,811
3,299
3,487
Intangible amortization expense(4)
12,526
3,997
3,997
Inventory step-up expense(5)
10,449
—
—
Non-controlling interest adjustment(6)
(7,429
)
—
—
Income tax expense differential(7)
(6,340
)
(4,643
)
(2,773
)
Adjusted net income
$
56,172
$
52,134
$
58,816
Diluted earnings per share, as adjusted
$
0.70
$
0.65
$
0.73
Weighted average shares outstanding, as adjusted(8)
80,581
80,501
80,097
Revenue
$
388,349
$
261,203
$
280,319
Net income margin
10.4
%
18.5
%
19.3
%
Adjusted net income margin
14.5
%
20.0
%
21.0
%
(1)
Represents non-routine charges related to severance benefits.
(2)
Represents non-cash adjustments for the revaluation of the Tax Receivable Agreement ("TRA") liability and the tax indemnity receivable asset related to the FlexSteel acquisition.
(3)
Reflects transaction fees and expenses recorded in connection with the acquisition of Cactus International and other growth initiatives.
(4)
Reflects amortization expense associated with the step-up in intangible value due to purchase price accounting.
(5)
Represents amortization of the Cactus International inventory step-up adjustment due to purchase price accounting.
(6)
Represents earnings attributable to non-controlling partners in both the Cactus International joint venture and Cactus International's business in Saudi Arabia.
(7)
Represents the increase or decrease in tax expense as though Cactus, Inc. owned 100% of its operating subsidiary at the beginning of the period, calculated as the difference in tax expense recorded during each period and what would have been recorded, adjusted for pre-tax items listed above, based on a corporate effective tax rate of 22% on income before income taxes for the three months ended March 31, 2026, and 25.0% for the three months ended December 31, 2025 and March 31, 2025.
(8)
Reflects 69.7, 69.5, and 68.2 million weighted average shares of basic Class A common stock outstanding and 10.9, 11.0 and 11.4 million additional shares for the three months ended March 31, 2026, December 31, 2025, and March 31, 2025, respectively, as if the weighted average shares of Class B common stock were exchanged and cancelled for Class A common stock at the beginning of the period, plus the effect of dilutive securities.
Cactus, Inc. – Supplemental Information
Reconciliation of GAAP to non-GAAP Financial Measures
EBITDA, Adjusted EBITDA and Adjusted EBITDA margin
(unaudited)
EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are not measures of net income as determined by GAAP but are supplemental non-GAAP financial measures that are used by management and external users of the Company’s consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. Cactus defines EBITDA as net income excluding net interest, income tax and depreciation and amortization. Cactus defines Adjusted EBITDA as EBITDA excluding the other items outlined below.
Cactus management believes EBITDA and Adjusted EBITDA are useful because they allow management to more effectively evaluate the Company’s operating performance and compare the results of its operations from period to period without regard to financing methods or capital structure, or other items that impact comparability of financial results from period to period. EBITDA and Adjusted EBITDA should not be considered as alternatives to, or more meaningful than, net income or any other measure as determined in accordance with GAAP. The Company’s computations of EBITDA and Adjusted EBITDA may not be comparable to other similarly titled measures of other companies. Cactus defines Adjusted EBITDA margin as Adjusted EBITDA divided by total revenue. Cactus presents this supplemental information because it believes it provides useful information regarding the factors and trends affecting the Company’s business.
Three Months Ended
March 31,
December 31,
March 31,
2026
2025
2025
(in thousands)
Net income
$
40,221
$
48,302
$
54,105
Interest income, net
(220
)
(3,142
)
(2,325
)
Income tax expense
9,503
13,675
16,832
Depreciation and amortization
26,313
16,162
15,678
EBITDA
75,817
74,997
84,290
Loss from revaluation of liability related to tax receivable agreement and other(1)
—
1,015
—
Severance expenses(2)
934
164
—
Transaction related expenses(3)
5,811
3,299
3,487
Inventory step-up expense(4)
10,449
—
—
Stock-based compensation
7,039
6,018
6,064
Adjusted EBITDA
$
100,050
$
85,493
$
93,841
Revenue
$
388,349
$
261,203
$
280,319
Net income margin
10.4
%
18.5
%
19.3
%
Adjusted EBITDA margin
25.8
%
32.7
%
33.5
%
Cactus, Inc. – Supplemental Information
Reconciliation of GAAP to non-GAAP Financial Measures
Adjusted Segment EBITDA and Adjusted Segment EBITDA margin
(unaudited)
Adjusted Segment EBITDA and Adjusted Segment EBITDA margin are not measures of net income as determined by GAAP but are supplemental non-GAAP financial measures that are used by management and external users of the Company’s consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. Cactus defines Adjusted Segment EBITDA as segment operating income excluding depreciation and amortization and the other items outlined below, in each case, that are attributable to the segment.
Cactus management believes Adjusted Segment EBITDA is useful because it allows management to more effectively evaluate the Company’s segment operating performance and compare the results of its segment operations from period to period without regard to financing methods or capital structure, or other items that impact comparability of financial results from period to period. Adjusted Segment EBITDA should not be considered as an alternative to, or more meaningful than, net income or any other measure as determined in accordance with GAAP. The Company’s computations of Adjusted Segment EBITDA may not be comparable to other similarly titled measures of other companies. Cactus defines Adjusted Segment EBITDA margin as Adjusted Segment EBITDA divided by total segment revenue. Cactus presents this supplemental information because it believes it provides useful information regarding the factors and trends affecting the Company’s business.
HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced that Ms. Tana Utley has been elected to the Company's Board of Directors (the “Board”) at the Company's Annual Meeting of Stockholders held May 12, 2026. Ms. Utley retired in 2022 after a 36-year career with Caterpillar Inc. (“Caterpillar”) and was an officer for Caterpillar for over 13 years of her tenure. She concluded her career at Caterpillar as Vice President of the Large Power Systems Division f.
Key Takeaways Cactus posted Q1 adjusted EPS of $0.70, beating consensus, as revenues jumped 38.5% to $388.35M.Pressure Control revenues climbed to $300.2M on Cactus International, despite purchase accounting impacts.Cactus generated $128.3M operating cash flow, maintained a 14 cents dividend and ended Q1 with no bank debt. Cactus, Inc. (WHD - Free Report) reported adjusted earnings of 70 cents per share in the first quarter of 2026, down 4.1% from the year-ago level of 73 cents but ahead of the Zacks Consensus Estimate of 65 cents by 7.7%.
Quarterly revenues rose 38.5% year over year to $388.35 million and topped the consensus mark of $380.81 million by 2%. Remaining performance obligations ended the quarter at $537.5 million, led by international Pressure Control work tied to the newly added Cactus International business.
The better-than-expected quarterly results can be attributed to higher revenues in the Pressure Control segment, aided by the acquisition of Cactus International. However, several transaction-related and acquisition-accounting charges partly offset the gains.
WHD Benefits From Cactus International DealThe quarter marked the first period to include results from Cactus International, following the Jan. 1 closing of the majority-interest acquisition. Management stated that Pressure Control revenues stayed resilient even as the conflict in the Middle East created shipment delays and operational friction.
Pressure Control revenues totaled $300.2 million for the quarter, higher than $190.3 million in the year-ago quarter and above our estimate of $300 million. Segment operating income totaled $38.6 million, down from $54.3 million in the prior-year quarter, reflecting the impact of purchase price accounting, including an inventory step-up and intangible value amortization.
Adjusted segment EBITDA for Pressure Control was $71.8 million, higher than $64.8 million in the prior-year quarter. Our estimate for the same was pinned at $74.9 million. Adjusted segment EBITDA margin was 23.9%.
Cactus’ Spoolable Technologies Segment Holds UpManagement highlighted that the Spoolable Technologies segment recorded non-U.S. revenues in the quarter, with strength cited in the Middle East and Latin America, alongside better-than-expected domestic activity. The segment witnessed stronger-than-typical seasonal demand and continued international order growth.
Spoolable Technologies' revenues were $89.9 million, lower than $92.6 million in the year-ago quarter and above our estimate of $83.7 million. The segment's operating income totaled $23.6 million, slightly lower than $23.9 million in the prior-year quarter.
Adjusted segment EBITDA totaled $32.9 million, translating to a 36.6% margin, as improved operating leverage helped offset higher input costs. This is comparable to adjusted segment EBITDA of $33.5 million, with a 36.2% margin in the year-ago period. On the call, management also pointed to a recent increase in polyethylene pricing as a cost item that the team expects to address through mitigation and recovery actions.
WHD’s Adjusted Profit Hit by Purchase AccountingWhile the acquisition expanded Cactus’ footprint, it also weighed on reported profitability comparisons due to non-cash items tied to purchase accounting. Operating income for the quarter totaled $49.5 million compared with $68.6 million in the first quarter of 2025. The company posted adjusted net income of $56.2 million, even as the income statement reflected several transaction-related and acquisition-accounting charges.
Adjusted EBITDA was $100.1 million, and key add-backs included $10.4 million of inventory step-up expenses, $5.8 million of transaction-related expenses and $7 million of stock-based compensation. Management emphasized that these adjustments are intended to improve comparability as integration work progresses.
Cactus' Strong Cash Flow, Maintained Dividend Cactus generated $128.3 million of cash flow from operations during the quarter, reflecting solid underlying cash conversion even as working-capital timing was influenced by acquisition-related restructuring steps. The company ended March with $291.6 million in cash and cash equivalents, including $97.8 million retained to finalize certain restructuring activities connected to Cactus International.
Capital allocation remained shareholder-friendly. The company paid a quarterly dividend of 14 cents per share, with cash outflows of $11.7 million, including related distributions. Net capital expenditures were $9 million, and the company repurchased $7.9 million of shares during the quarter while maintaining no bank debt outstanding.
WHD Sees Q2 Mix Shifting With Conflict EffectsFor the second quarter, management expects Pressure Control revenues to be approximately flat. Stronger sentiment and activity in the domestic market are expected to be offset by the full-quarter impact of the Middle East conflict on the Cactus International joint venture. Pressure Control adjusted EBITDA margins are guided to 22-24%, excluding stock-based compensation and inventory write-up amortization tied to purchase accounting.
Spoolable Technologies’ revenues are expected to grow at a mid-single-digit pace, driven primarily by higher North American activity, with adjusted EBITDA margins guided to 36-38%. On costs and planning items, management cited a 19% expected effective tax rate, second-quarter depreciation and amortization of roughly $37 million and reiterated full-year 2026 net capital expenditures of $40-$50 million.
WHD’s Zacks Rank and Key PicksWHD currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Equinor ASA (EQNR - Free Report) , Matador Resources (MTDR - Free Report) and Galp Energia SGPS SA (GLPEY - Free Report) . At present, Equinor and Matador sport a Zacks Rank #1 (Strong Buy) each, while Galp Energia carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Equinor ASA is one of the leading integrated energy companies globally and a major supplier of natural gas in Europe. The recent conflict between the United States and Iran has resulted in a spike in gas prices and disrupted LNG supply, following damage to critical infrastructure in Qatar, tightening global LNG supply. This is expected to boost demand for Equinor’s gas exports to Europe, positioning it to benefit from heightened prices. The company’s expansion in the renewable energy space positions it for long-term growth as more countries transition toward cleaner energy solutions to meet their climate goals.
Matador Resources is primarily involved in exploration and production activities, particularly in the prolific Delaware Basin of the United States. The company intends to grow its oil production by 3% in 2026. Since its overall production is mainly oil-weighted, MTDR is expected to significantly benefit from the current increase in crude prices.
Galp Energia is a Portuguese energy company engaged in exploration and production activities. The company’s oil exploration efforts have yielded positive results, particularly with the Mopane discovery in the Orange Basin, offshore Namibia. This discovery allows Galp to diversify its global presence with the potential to become a significant oil producer in the region. It is engaged in refining and marketing of oil products and natural gas marketing and sales.
Investors looking for stocks in the Oil and Gas - Integrated - United States sector might want to consider either ConocoPhillips (COP) or Cactus, Inc. (WHD). But which of these two stocks is more attractive to value investors?
On May 27, 2026, Cactus Inc (WHD) shares fell 3.4% to a current price of $60.64. This decline comes as the stock has seen a 52-week range of $33.20 to $64.30, r
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Stock to Watch: Cactus, Inc. (WHD - Free Report) Along with its consolidated affiliates, Cactus Inc is involved in manufacturing, designing and selling wellhead and pressure control equipment. The products are being utilized by customers for drilling and completing onshore oil and natural gas wells. The equipment are also used by upstream energy companies during production phases in oil and gas wells. Thus, Cactus, headquartered in Houston, TX, generates significant cashflow from selling and renting wellhead and pressure control equipment.
WHD is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Oils-Energy stock. WHD has a Momentum Style Score of B, and shares are up 5.9% over the past four weeks.
Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.02 to $2.86 per share. WHD also boasts an average earnings surprise of +8.5%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, WHD should be on investors' short list.
A month has gone by since the last earnings report for Cactus, Inc. (WHD - Free Report) . Shares have added about 4.9% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Cactus due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.
Cactus Q1 Earnings Beat Estimates, Revenues Rise Y/YCactus, Inc. reported adjusted earnings of 70 cents per share in the first quarter of 2026, down 4.1% from the year-ago level of 73 cents but ahead of the Zacks Consensus Estimate of 65 cents by 7.7%.
Quarterly revenues rose 38.5% year over year to $388.35 million and topped the consensus mark of $380.81 million by 2%. Remaining performance obligations ended the quarter at $537.5 million, led by international Pressure Control work tied to the newly added Cactus International business.
The better-than-expected quarterly results can be attributed to higher revenues in the Pressure Control segment, aided by the acquisition of Cactus International. However, several transaction-related and acquisition-accounting charges partly offset the gains.
Pressure Control Benefits From Cactus International DealThe quarter marked the first period to include results from Cactus International, following the Jan. 1 closing of the majority-interest acquisition. Management stated that Pressure Control revenues stayed resilient even as the conflict in the Middle East created shipment delays and operational friction.
Pressure Control revenues totaled $300.2 million for the quarter, higher than $190.3 million in the year-ago quarter and above our estimate of $300 million. Segment operating income totaled $38.6 million, down from $54.3 million in the prior-year quarter, reflecting the impact of purchase price accounting, including an inventory step-up and intangible value amortization.
Adjusted segment EBITDA for Pressure Control was $71.8 million, higher than $64.8 million in the prior-year quarter. Our estimate for the same was pinned at $74.9 million. Adjusted segment EBITDA margin was 23.9%.
Spoolable Technologies Segment Holds UpManagement highlighted that the Spoolable Technologies segment recorded non-U.S. revenues in the quarter, with strength cited in the Middle East and Latin America, alongside better-than-expected domestic activity. The segment witnessed stronger-than-typical seasonal demand and continued international order growth.
Spoolable Technologies' revenues were $89.9 million, lower than $92.6 million in the year-ago quarter and above our estimate of $83.7 million. The segment's operating income totaled $23.6 million, slightly lower than $23.9 million in the prior-year quarter.
Adjusted segment EBITDA totaled $32.9 million, translating to a 36.6% margin, as improved operating leverage helped offset higher input costs. This is comparable to adjusted segment EBITDA of $33.5 million, with a 36.2% margin in the year-ago period. On the call, management also pointed to a recent increase in polyethylene pricing as a cost item that the team expects to address through mitigation and recovery actions.
WHD’s Adjusted Profit Hit by Purchase AccountingWhile the acquisition expanded Cactus’ footprint, it also weighed on reported profitability comparisons due to non-cash items tied to purchase accounting. Operating income for the quarter totaled $49.5 million compared with $68.6 million in the first quarter of 2025. The company posted adjusted net income of $56.2 million, even as the income statement reflected several transaction-related and acquisition-accounting charges.
Adjusted EBITDA was $100.1 million, and key add-backs included $10.4 million of inventory step-up expenses, $5.8 million of transaction-related expenses and $7 million of stock-based compensation. Management emphasized that these adjustments are intended to improve comparability as integration work progresses.
Strong Cash Flow and Dividend Payout Cactus generated $128.3 million of cash flow from operations during the quarter, reflecting solid underlying cash conversion even as working-capital timing was influenced by acquisition-related restructuring steps. The company ended March with $291.6 million in cash and cash equivalents, including $97.8 million retained to finalize certain restructuring activities connected to Cactus International.
Capital allocation remained shareholder-friendly. The company paid a quarterly dividend of 14 cents per share, with cash outflows of $11.7 million, including related distributions. Net capital expenditures were $9 million, and the company repurchased $7.9 million of shares during the quarter while maintaining no bank debt outstanding.
Q2 Outlook Shift With Conflict EffectsFor the second quarter, management expects Pressure Control revenues to be approximately flat. Stronger sentiment and activity in the domestic market are expected to be offset by the full-quarter impact of the Middle East conflict on the Cactus International joint venture. Pressure Control adjusted EBITDA margins are guided to 22-24%, excluding stock-based compensation and inventory write-up amortization tied to purchase accounting.
Spoolable Technologies’ revenues are expected to grow at a mid-single-digit pace, driven primarily by higher North American activity, with adjusted EBITDA margins guided to 36-38%. On costs and planning items, management cited a 19% expected effective tax rate, second-quarter depreciation and amortization of roughly $37 million and reiterated full-year 2026 net capital expenditures of $40-$50 million.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates review.
VGM ScoresCurrently, Cactus has a nice Growth Score of B, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a grade of C on the value side, putting it in the middle 20% for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Cactus has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerCactus belongs to the Zacks Oil and Gas - Integrated - United States industry. Another stock from the same industry, ConocoPhillips (COP - Free Report) , has gained 3.8% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.
ConocoPhillips reported revenues of $16.05 billion in the last reported quarter, representing a year-over-year change of -6.1%. EPS of $1.89 for the same period compares with $2.09 a year ago.
For the current quarter, ConocoPhillips is expected to post earnings of $2.72 per share, indicating a change of +91.6% from the year-ago quarter. The Zacks Consensus Estimate has changed +18% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for ConocoPhillips. Also, the stock has a VGM Score of B.
