WHD News & Events

Reports Q1 revenue $388.35M, consensus $380.77M. 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."

Reports Q4 revenue $261.2M, consensus $251.0M. Scott Bender, CEO and Chairman of the Board of Cactus, commented, "I am pleased with the way our business finished the year in 2025. Fourth quarter margins were strong in both segments. Pressure Control revenues exceeded expectations on strong sales of drilling equipment and increased rental revenues, while Spoolable Technologies revenues declined in line with expectations in the seasonally slow quarter. On January 1, 2026, we closed on the acquisition of a majority interest in Baker Hughes's Surface Pressure Control business, which we will refer to as Cactus International, supporting a multi-year journey to geographically diversify our earnings base. In the first quarter of 2026 we anticipate that U.S. land activity levels will be relatively flat from the fourth quarter of 2025. Sales in our legacy Pressure Control business are expected to soften on lower products sold per rig followed after a strong fourth quarter and reduced customer rental activity. Beginning in the first quarter, our Pressure Control segment will include results of Cactus International. In Spoolable Technologies, we anticipate revenues to be softer than the fourth quarter, as activity has recently started to rebound from holiday lows late last year.