Financial Data and Key Metrics Changes - Total Q1 2024 revenues were $274 million, with adjusted EBITDA of $95 million and adjusted EBITDA margins of 34.8% [6][7] - GAAP net income decreased to $50 million from $62 million in the previous quarter, largely due to increased remeasurement of the earn-out liability [8] - Adjusted net income and earnings per share were $60 million and $0.75 per share, respectively, compared to $65 million and $0.81 per share in the fourth quarter [8][9] Business Line Data and Key Metrics Changes - Pressure Control segment revenues were $175 million, down 3% sequentially, with operating income decreasing by $4.4 million or 7.8% [7] - Spoolable Technologies segment revenues increased by 5% sequentially to $99 million, driven by higher customer demand [7] - Adjusted segment EBITDA for Pressure Control decreased by 6.2% sequentially, while Spoolable Technologies saw a slight decrease of 1.1% [7] Market Data and Key Metrics Changes - The U.S. land rig count is expected to slightly decline, impacting Pressure Control revenue, which is anticipated to remain flat in Q2 2024 [10] - The market for surface pressure control equipment in Saudi Arabia is estimated to exceed $0.5 billion annually, indicating potential growth opportunities [10] Company Strategy and Development Direction - The company plans to introduce a new generation wellhead, which is expected to impact operating results later in the year [10] - Expansion plans in the Mid-East are being pursued, with two viable options currently under consideration [10] - The company is focusing on low-cost supply chain diversification and enhancing relationships with core customers to improve cash flows and returns [13] Management's Comments on Operating Environment and Future Outlook - Management expressed limited optimism regarding U.S. activity levels for 2024, anticipating a plateau in the second half of the year [13] - Increased inquiries related to CCUS and hydrogen transmission testing indicate potential growth in new applications [14] - The integration of Spoolable Technologies is progressing well, with increasing orders from a major new midstream customer [13][14] Other Important Information - The company paid a quarterly dividend of $0.12 per share, resulting in a cash outflow of approximately $10 million [9] - The cash balance increased to $194 million, a sequential increase of approximately $60 million [9] Q&A Session Summary Question: When will international opportunities start showing up on the income statement? - Management expects meaningful international contributions to begin next year [17] Question: What is the outlook for U.S. land market activity in the back half of the year? - Management anticipates a potential plateau in activity as gas production decreases and oil stabilizes [19]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________ FORM 10-Q ______________________________________________________________________________ (MARK ONE) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission Fi ...

Exhibit 99.1 Cactus Announces First Quarter 2024 Results HOUSTON – May 1, 2024 – Cactus, Inc. (NYSE: WHD) ("Cactus" or the "Company") today announced financial and operating results for the first quarter of 2024. First Quarter Highlights Financial Summary | | | | | Three Months Ended | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | March 31, | December 31, | | | March 31, | | | | | 2024 | 2023 | | | (3) 2023 | | | | | | (in thousands) | | | | | Revenues | | $ | 274,123 | $ | 274,866 | $ | 2 ...

Customer Base and Revenue - The company serves over 300 customers, with one customer representing approximately 10% of total revenues for the year ended December 31, 2023[45]. Manufacturing and Production - The company operates manufacturing facilities in Bossier City, Louisiana, and Suzhou, China, with advanced production capabilities for time-sensitive orders[40]. - The company’s manufacturing facility in Baytown, Texas, produces pipe products using proprietary-designed equipment and adheres to API standards[41]. - The company’s manufacturing facilities are licensed to the latest API specifications and certified under ISO 9001:2015 quality management systems[51]. Industry Influence and Competition - The company’s business is significantly influenced by oil and gas industry conditions, including exploration and production activity, which are affected by oil prices[43]. - The company faces competition from major players in the Pressure Control and Spoolable Technologies segments, with no single competitor dominating the market[46]. Environmental and Regulatory Compliance - The company is subject to stringent environmental regulations, which could increase compliance costs and impact demand for its products[50]. Workforce and Employment - As of December 31, 2023, the company employed almost 1,600 people worldwide, with over 100 employees outside the United States, primarily in Australia and China[59]. - Approximately 14% of the company's workforce are women, and about 46% represent a minority population, highlighting the company's commitment to diversity and inclusion[62]. - The company has not experienced any strikes or work stoppages and considers its relations with its workforce to be good[59]. - The company emphasizes training and development, particularly in safety and technical skills, to enhance employee retention and morale[61]. - The company collaborates with local workforce commissions to attract a diverse pool of candidates across all regions of operation[60]. Safety and Incident Rates - The company reported a Total Recordable Incident Rate (TRIR) of 1.19 for the Pressure Control segment in fiscal year 2023, down from 1.35 in 2022, with no work-related fatalities in either year[64]. - The Spoolable Technologies segment reported a TRIR of 0.98 for fiscal year 2023, also with no work-related fatalities[64]. Financial Position and Risk Management - The company has no outstanding borrowings under its Amended ABL Credit Facility as of December 31, 2023, which bears interest at variable rates[216]. - The company utilizes various insurance coverages, including commercial general liability and workers' compensation, but carries a partially self-insured medical plan[58]. - If the U.S. dollar strengthened or weakened by 5%, the impact on the unrealized value of the company's foreign currency forward contracts would be approximately $0.9 million[215]. Supply Chain and Raw Materials - The company believes it can make satisfactory alternative arrangements for raw materials in case of supply interruptions, although costs may increase[39]. Seasonality - The company’s operations are not significantly impacted by seasonality, although the fourth quarter may see lower activity due to holidays[44].

Financial Data and Key Metrics Changes - For Q4 2023, total revenue was $275 million, with adjusted EBITDA of $100 million and an adjusted EBITDA margin of 36.4% [8][14] - Full year 2023 saw record revenues and adjusted EBITDA for both business segments despite a decline in US land activity [7] - GAAP net income for Q4 was $62 million, down from $68 million in Q3, while adjusted net income was $65 million, up from $64 million [17][18] - The company ended Q4 with a cash balance of $134 million, an increase of over $70 million sequentially [19] Business Line Data and Key Metrics Changes - Pressure Control segment revenues were $180 million, down 1.1% sequentially, but operating income increased by 2.2% [11] - Spoolable Technologies segment revenues were $94 million, down 10.4% sequentially, with operating income decreasing significantly due to remeasurement expenses [12] - Adjusted EBITDA for the Pressure Control segment increased by 2.3% sequentially, while Spoolable Technologies saw a decrease of 10.2% [11][12] Market Data and Key Metrics Changes - The US land rig count is expected to remain flat in the first quarter of 2024, with caution due to recent weakness in natural gas prices [23][30] - Increased inquiries for frac rental equipment suggest potential growth in Q2 2024 [23] Company Strategy and Development Direction - The company is focused on enhancing its low-cost manufacturing capabilities and diversifying its supply chain to reduce costs [42] - Expansion plans in the Middle East are underway, with expectations for customer acceptance and first orders by late 2024 [27] - The company aims to generate substantial free cash flow in 2024 to increase shareholder returns or pursue growth opportunities [32] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the overall rig count due to expected consolidations and low natural gas prices [41] - The company remains optimistic about market share growth despite a challenging environment [49] - New product rollouts, including a modified frac valve and a new wellhead design, are anticipated to positively impact margins later in 2024 [38][40] Other Important Information - Corporate and other expenses were $5.7 million in Q4, down from the previous quarter [13] - Net capital expenditures for 2023 were approximately $38.6 million, with expectations of $45 million to $55 million for 2024 [20] Q&A Session Summary Question: Increase in activity from majors - Management noted increased activity from majors and international orders, particularly from Latin America and the Middle East [33] Question: Details on new product introduction - The new frac valve is being rolled out, significantly reducing repair costs, while the new wellhead design is expected in Q3 to Q4 [36][38] Question: CapEx perspective regarding Saudi Aramco - Management remains cautious but sees potential business opportunities in Saudi Arabia despite recent news [39] Question: Revenue growth expectations - Management is optimistic about market share growth but cautious about overall rig count due to consolidations [48][49] Question: International market penetration - Currently, 5% to 10% of revenue comes from outside North America, with expectations for significant growth in the future [44][45]

Fourth Quarter Highlights | | | | | | Three Months Ended | | | | | Twelve Months Ended | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | December 31, | | September 30, | | December 31, | | | December 31, | | | | | | 2023 | | 2023 | | 2022 | | 2023 | | 2022 | | | | | | | (in thousands) | | | | | (in thousands) | | | Revenues | | $ | 274,866 | $ | 287,870 | $ | 187,774 | $ | 1,096,960 | $ | 688,369 | | (3) Operating income | | $ | 78,553 | $ | 87,603 | $ | 48,221 | $ | 264, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________ FORM 10-Q ______________________________________________________________________________ (MARK ONE) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the t ...

Cactus, Inc. (NYSE:WHD) Q3 2023 Earnings Conference Call November 9, 2023 10:00 AM ET Company Participants Alan Boyd - Director of Corporate Development and Investor Relations Scott Bender - Chairman and Chief Executive Officer Steve Tadlock - Chief Financial Officer and Chief Executive Officer of FlexSteel Conference Call Participants Scott Gruber - Citigroup David Anderson - Barclays Kurt Hallead - Benchmark Stephen Gengaro - Stifel Operator Good day, and thank you for standing by. Welcome to the Cactus, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________ FORM 10-Q ______________________________________________________________________________ (MARK ONE) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transi ...

Financial Data and Key Metrics Changes - Total Q2 revenues were $306 million, with adjusted EBITDA of $115 million and adjusted EBITDA margins of 37.7% [8][14] - GAAP net income was $32 million in Q2, down from $52 million in Q1, primarily due to higher tax and interest expenses [18] - Adjusted net income for Q2 was $67 million, or $0.84 per share, compared to $51 million and $0.64 per share in Q1 [19] - The company paid a quarterly dividend of $0.11 per share, which has been increased by 9% to $0.12 per share [9][20] Business Line Data and Key Metrics Changes - Pressure Control revenues were $199 million, up 2.3% sequentially, with operating income increasing by 10.3% [10] - Adjusted segment EBITDA for Pressure Control was $69.9 million, a slight increase of 1.2% sequentially [11] - Spoolable Technologies revenues were $106.7 million, with an operating loss of $6 million due to various costs associated with the acquisition [12] - Adjusted segment EBITDA for Spoolable Technologies was $45.5 million, with margins of 42.6%, reflecting improved operating leverage [13] Market Data and Key Metrics Changes - The US land rig count is down 17% from year-end 2022 levels and down 14% from Q1 2023 average levels [24] - The company expects Pressure Control revenue to decline approximately 10% in Q3 due to reduced drilling activity [24] - The Spoolable Technologies segment is expected to remain stable, driven by market penetration and share of wallet [28] Company Strategy and Development Direction - The company aims to leverage its differentiated offerings in both Pressure Control and Spoolable Technologies to outperform market declines [25][35] - The integration of FlexSteel is a key focus, with expectations to introduce new products and services in 2024 [33][34] - The company is committed to maintaining a strong balance sheet while pursuing organic and inorganic growth opportunities [34] Management's Comments on Operating Environment and Future Outlook - Management noted a resilient performance despite a weakening US land market, with expectations for stabilization in rig counts by late Q3 [24][39] - The company anticipates that larger, well-capitalized customers will continue to invest through commodity cycles [25] - Management expressed confidence in the ability to maintain margins in the Spoolable Technologies segment despite market fluctuations [49][50] Other Important Information - The company has repaid the full $155 million of debt related to the FlexSteel acquisition, returning to a net cash position [9][20] - Changes in management roles were announced, with Scott Bender assuming the role of Chairman and Joel Bender becoming President [30][31] Q&A Session Summary Question: Market share growth expectations - Management confirmed record market share for the quarter but did not provide specific figures on pricing or market share changes [37][38] Question: Rig count stabilization - Management revised the expected trough of US land rig count down to approximately 600, with indications of stabilization and potential increases in Q4 [39][40] Question: Customer activity and 2024 outlook - Management noted that larger customers have maintained robust activity in certain areas, but there is no current visibility into 2024 budgets [44][45] Question: Spoolable Technologies margins - Management indicated that the impressive margins in Spoolable Technologies are expected to be maintained due to the competitive advantages of the business [48][49] Question: Lag in Spoolable revenue impact - Management acknowledged a historical lag of about three to four months in revenue impact from rig count changes, but noted that increased market penetration may offset this [68]