Cactus, Inc. Provides Revenue Guidance for the Third Quarter
August 07, 2023 at 05:15 pm EDT
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Cactus, Inc. provided revenue guidance for the third quarter. For the quarter,company anticipated revenue to be down sequentially due to lower U.S. land activity levels, although expect impacts to the FlexSteel business will lag the activity decline.
Cactus, Inc. is a holding company. The Company operates through two segments. The Pressure Control segment designs, manufactures, sells and rents a range of wellheads and pressure control equipment under the Cactus Wellhead brand. The segmentâs 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 all of its products and rental items to assist with the installation, maintenance and handling of the equipment. The Spoolable Technologies segment designs, manufactures and sells spoolable pipe and associated end fittings under the FlexSteel brand. Its customers use these products primarily as production, gathering and takeaway pipelines to transport oil, gas or other liquids. In addition, it also provides field services and rental items to assist its customers with the installation of these products.
CACTUS, INC. 
