<span item_type="fundamental" item_id="256b44867118d8e64837b9ea3f7d277e" counter_id="ST/US/WHD" env="prod"></span><span item_type="announcement" item_id="645691617844136193" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 388.35 M, beating the estimate of USD 380.77 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.7, missing the estimate of USD 0.5833.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 49.5 M.</p><p></p><h4>First Quarter 2026 Financial Highlights</h4><ul><li>Cactus, Inc. reported revenue of $388.3 million for the first quarter of 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Operating income was $49.5 million, with an operating income margin of 12.7% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Net income reached $40.2 million, resulting in a net income margin of 10.4% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Adjusted net income was $56.2 million, with an adjusted net income margin of 14.5% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Adjusted EBITDA stood at $100.1 million, and the Adjusted EBITDA margin was 25.8% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li></ul><h4>Operational Metrics (Year-over-Year and Sequential Comparisons)</h4><ul><li>Net income for Q1 2026 was $40,221 thousand, compared to $48,302 thousand in Q4 2025 and $54,105 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>The net income margin was 10.4% in Q1 2026, down from 18.5% in Q4 2025 and 19.3% in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Operating income was $49,504 thousand in Q1 2026, a decrease from $59,850 thousand in Q4 2025 and $68,612 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>The operating income margin was 12.7% in Q1 2026, compared to 22.9% in Q4 2025 and 24.5% in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Adjusted net income for Q1 2026 was $56,172 thousand, up from $52,134 thousand in Q4 2025 but down from $58,816 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Adjusted net income margin was 14.5% in Q1 2026, compared to 20.0% in Q4 2025 and 21.0% in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Adjusted EBITDA was $100,050 thousand in Q1 2026, an increase from $85,493 thousand in Q4 2025 and $93,841 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Adjusted EBITDA margin was 25.8% in Q1 2026, down from 32.7% in Q4 2025 and 33.5% in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li></ul><h4>Segment Revenue and Operational Metrics (Q1 2026)</h4><h5>Pressure Control Segment</h5><ul><li>Revenue was $300,172 thousand, an increase of $121.7 million or 68.2% sequentially, primarily due to the acquisition of Cactus International <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Operating income was $38,605 thousand, a decrease of $10.1 million or 20.7% sequentially, with margins decreasing by 1,440 basis points due to purchase price accounting-related adjustments totaling $19.0 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Adjusted Segment EBITDA was $71,836 thousand, an increase of $12.7 million or 21.4% sequentially, though Adjusted Segment EBITDA margins decreased by 930 basis points <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li></ul><h5>Spoolable Technologies Segment</h5><ul><li>Revenue was $89,900 thousand, an increase of $5.7 million or 6.8% sequentially, driven by higher domestic and international activity levels <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Operating income was $23,567 thousand, an increase of $2.6 million or 12.6% sequentially, with margins increasing by 130 basis points <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Adjusted Segment EBITDA was $32,902 thousand, higher by $1.8 million or 5.9% sequentially, with Adjusted Segment EBITDA margins decreasing by 30 basis points due to improved operating leverage offset by higher input costs <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li></ul><h5>Corporate and Other Expenses</h5><ul><li>Corporate and Other Expenses increased by $2.9 million sequentially in Q1 2026, primarily due to $5.8 million in transaction-related expenses from the Cactus International acquisition <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li></ul><h4>Cash Flow and Liquidity</h4><ul><li>Cash Flow from Operations was $128.3 million for the first quarter of 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Cash and Cash Equivalents totaled $291.6 million as of March 31, 2026, including $97.8 million retained for legal restructuring related to the Cactus International acquisition <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>There was no bank debt outstanding as of March 31, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>The company had $223.7 million of availability under its revolving credit facility <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Net Cash Used in Investing Activities was - $310.0 million for Q1 2026, primarily due to the Cactus International acquisition <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Net Capital Expenditures were $9.0 million during Q1 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>Dividend payments and associated distributions totaled $11.7 million during Q1 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li></ul><h4>Other Key Metrics</h4><ul><li>Remaining Performance Obligations (Backlog) closed the quarter at $537.5 million, primarily related to the Cactus International business <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>As of March 31, 2026, there were 69,415,532 shares of Class A common stock and 10,758,435 shares of Class B common stock outstanding <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li><li>The Board approved a quarterly cash dividend of $0.14 per share of Class A common stock <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</li></ul><h4>Outlook / Guidance</h4><p>Cactus, Inc. anticipates the U.S. land rig count to be flat to up in the second quarter of 2026, driven by more bullish customer sentiment due to higher commodity prices <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>. Second-quarter Pressure Control revenues are expected to be approximately flat, as domestic strength is offset by impacts from the Middle East conflict and logistics disruptions <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>. Activity in the Spoolable Technologies segment is projected to increase in the second quarter, particularly for higher diameter offerings, due to continued momentum and recent U.S. customer inquiries <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>. Net capital expenditures for the full year 2026 are expected to range from $40 million to $50 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1699136/000162828026031637/whd-20260331xexhibit991.htm"></span>.</p>

Cactus | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 388.35 M