Cactus, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 01, 2024 at 05:30 pm EDT
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Cactus, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 274.12 million compared to USD 228.41 million a year ago. Revenue was USD 274.12 million compared to USD 228.41 million a year ago.
Net income was USD 38.97 million compared to USD 42.89 million a year ago. Basic earnings per share from continuing operations was USD 0.6 compared to USD 0.67 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.63 a year ago.
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. 
