Quarterly ResultMay 7, 2026, 06:31 AM
Cactus Q1 Revenue $388.3M; Diluted Loss Per Share $(0.70)
AI Summary
Cactus, Inc. announced its first quarter 2026 results, reporting a significant revenue increase to $388.3 million, primarily driven by the acquisition of a majority interest in Baker Hughes' Surface Pressure Control business. Despite the revenue growth, the company posted a diluted loss per Class A share of $(0.70) and a decrease in net income to $40.2 million, impacted by acquisition-related adjustments and expenses. Adjusted EBITDA saw an increase to $100.1 million, and the company maintained a strong cash position with no bank debt.
Key Highlights
- Closed acquisition of a majority interest in Baker Hughes' Surface Pressure Control business on January 1, 2026.
- Revenue increased 38.5% year-over-year to $388.3 million.
- Net income decreased 25.7% year-over-year to $40.2 million.
- Reported a diluted loss per Class A share of $(0.70), compared to $0.64 earnings per share in Q1 2025.
- Adjusted EBITDA rose 6.7% year-over-year to $100.1 million.
- Pressure Control segment revenue grew 57.7% year-over-year to $300.2 million, driven by the acquisition.
- Spoolable Technologies segment revenue decreased 2.9% year-over-year to $89.9 million.
- Declared a quarterly cash dividend of $0.14 per Class A share.