Cactus, Inc. (WHD) came out with quarterly earnings of $0.81 per share, beating the Zacks Consensus Estimate of $0.70 per share. This compares to earnings of $0.84 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 15.71%. A quarter ago, it was expected that this company would post earnings of $0.67 per share when it actually produced earnings of $0.75, delivering a surprise of 11.94%. Over the last four quarters, the company has ...

Financial Performance - Revenue for Q2 2024 was $290.4 million, a sequential increase of 5.5% from $274.1 million in Q1 2024[2] - Operating income rose to $79.8 million, reflecting a 27.5% operating income margin, up from 22.8% in Q1 2024[2] - Net income for the quarter was $63.1 million, with a net income margin of 21.7%, compared to 18.2% in the previous quarter[2] - Adjusted EBITDA was $103.6 million, representing a margin of 35.7%, an increase from 34.8% in Q1 2024[2] - Total revenues for Q2 2024 were $290,389 thousand, a decrease of 5% from $305,819 thousand in Q2 2023[17] - Net income for Q2 2024 was $63,059 thousand, compared to $32,459 thousand in Q2 2023, representing a 94% increase[17] - Earnings per Class A share - diluted for Q2 2024 was $0.75, up from $0.38 in Q2 2023, reflecting a 97% increase[17] - Adjusted net income for the same period was $65,192 thousand, compared to $59,600 thousand in the previous quarter and $67,279 thousand in the same quarter last year[23] - Total operating income for the three months ended June 30, 2024, was $79,819 thousand, compared to $62,550 thousand for the same period last year, indicating a growth of 27.7%[32] Segment Performance - Pressure Control revenue increased by $12.2 million, or 6.9%, sequentially, driven by improved customer drilling efficiencies[5] - Spoolable Technologies revenue grew by $4.6 million, or 4.7%, sequentially, with operating income increasing by 83.3% due to lower expenses related to the FlexSteel acquisition[6] - Operating income for the Pressure Control segment was $55,669 thousand in Q2 2024, down from $62,888 thousand in Q2 2023, a decrease of 11%[17] - The Spoolable Technologies segment reported an operating income of $30,041 thousand in Q2 2024, recovering from an operating loss of $(6,018) thousand in Q2 2023[17] - Revenue from Spoolable Technologies segment was $103,716 thousand for the three months ended June 30, 2024, an increase from $99,095 thousand in the previous quarter, representing a growth of 2.6%[32] - The company reported an operating income (loss) margin of 29.0% for the Spoolable Technologies segment for the three months ended June 30, 2024, compared to 16.5% in the previous quarter[32] Cash Flow and Capital Expenditures - Cash flow from operations was $78.0 million, with cash and cash equivalents totaling $246.5 million and no bank debt outstanding as of June 30, 2024[9] - Net capital expenditures for Q2 2024 were $7.2 million, with full-year expectations set between $35 million to $45 million[9] - Cash and cash equivalents increased to $246,503 thousand as of June 30, 2024, from $133,792 thousand at the end of 2023, marking an 84% increase[19] - Net cash provided by operating activities for the six months ended June 30, 2024, was $164,218 thousand, slightly down from $168,518 thousand in the same period of 2023[21] Assets and Liabilities - Total assets rose to $1,626,393 thousand as of June 30, 2024, compared to $1,522,561 thousand at the end of 2023, indicating a 7% increase[19] - Total liabilities increased to $471,597 thousand as of June 30, 2024, from $457,791 thousand at the end of 2023, a rise of 3%[19] - The company reported a deferred tax asset of $206,409 thousand as of June 30, 2024, compared to $204,852 thousand at the end of 2023, showing a slight increase[19] Dividend and Future Outlook - The Board approved an 8% increase in the quarterly dividend to $0.13 per share, reflecting confidence in future performance[3] - The company anticipates stable U.S. land activity levels in Q3 2024, with potential revenue moderation in Pressure Control due to lower drilling activity[3] Adjusted Metrics - Adjusted EBITDA for the three months ended June 30, 2024, was $103,637 thousand, an increase from $95,332 thousand in the previous quarter but a decrease from $115,419 thousand in the same quarter last year[27] - Adjusted EBITDA margin for the same period was 35.7%, compared to 34.8% in the previous quarter and 37.7% in the same quarter last year[27] - Diluted earnings per share, as adjusted, was $0.81 for the three months ended June 30, 2024, compared to $0.75 in the previous quarter and $0.84 in the same quarter last year[23] - Total Adjusted EBITDA for the six months ended June 30, 2024, was $198,969 thousand, compared to $194,830 thousand for the same period last year, showing a slight increase of 2.2%[32] Other Expenses - Corporate and other expenses totaled $(5,891) thousand for the three months ended June 30, 2024, compared to $(5,518) thousand in the previous quarter, indicating an increase in expenses[32] - The company reported a remeasurement loss on earn-out liability of $2,876 thousand for the three months ended June 30, 2024, compared to $13,304 thousand in the previous quarter[27] - The company incurred transaction-related expenses of $2,191 thousand in the same quarter last year, which were not present in the current quarter[27]

Core Viewpoint - Cactus, Inc. is expected to report a year-over-year decline in earnings and revenues, with the consensus EPS estimate revised lower, indicating a bearish outlook from analysts [3][5][13]. Earnings Expectations - The company is projected to post quarterly earnings of $0.70 per share, reflecting a decline of 16.7% year-over-year [5]. - Revenues are anticipated to be $274.7 million, down 10.2% from the same quarter last year [13]. Estimate Revisions - The consensus EPS estimate has been revised 2.57% lower over the last 30 days, showing a collective reassessment by covering analysts [13]. - Cactus has an Earnings ESP of -1.07%, suggesting that the Most Accurate Estimate is lower than the Zacks Consensus Estimate, indicating a negative sentiment among analysts [8][9]. Earnings Surprise History - Over the last four quarters, Cactus has beaten consensus EPS estimates three times, but the current indicators do not suggest a strong likelihood of an earnings beat for the upcoming report [20][21]. Zacks Rank and Predictive Power - The stock currently holds a Zacks Rank of 3 (Hold), which does not strongly favor an earnings beat [16]. - A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a higher Zacks Rank, but Cactus's current metrics do not align favorably [15].

CALGARY, Alberta, July 15, 2024 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (TSX:GEI) ("Gibson" or the "Company") announced today the extension of a long-term contract with an investment grade global E&P company at its Gateway Terminal and the sanction of a connection to the Cactus II Pipeline. The specific terms of the customer contract are confidential. The Company has sanctioned a pipeline connection (the "Connection") to the Cactus II Pipeline pursuant to an interconnection agreement with Cactus II Pipeline, ...

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, ...