Financial Data and Key Metrics Changes - Total Q3 revenues were $264 million, a sequential decline of 3.5% [5] - Adjusted EBITDA was $87 million, approximately flat from the second quarter, with an adjusted EBITDA margin of 32.9% compared to 31.7% in the second quarter [6][8] - GAAP net income for Q3 was $50 million, up from $49 million in Q2, with adjusted net income of $54 million and earnings per share of $0.67, compared to $53 million and $0.66 per share in Q2 [7][8] Business Line Data and Key Metrics Changes - Pressure Control segment revenues were $169 million, down 6.2% sequentially, but operating income increased by $2.2 million or 5.2% sequentially, with operating margins increasing by 290 basis points [5][6] - Spoolable Technologies segment revenues were $95 million, down 1% sequentially, with operating income decreasing by $2.2 million or 8% sequentially [5][6] Market Data and Key Metrics Changes - The company continues to face a challenging tariff environment, with a 70% tariff on goods imported from China and a 50% tariff on goods from Vietnam [11] - The U.S. land rig count is expected to drift modestly lower through the year-end, indicating subdued domestic activity levels [12] Company Strategy and Development Direction - The company is focusing on mitigating tariff impacts and enhancing profitability through cost reduction initiatives and supply chain flexibility [11][12] - The planned acquisition of a majority interest in the Surface Pressure Control business of Baker Hughes is expected to close in early 2026, which will enhance the company's market position [16] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the downside risk of oil prices, suggesting they may stabilize between $55 and $60, which could impact upstream spending in 2026 [25] - The company anticipates that most industry activity declines for 2025 are behind them, with expectations for flat revenue in the Pressure Control segment for Q4 [12][13] Other Important Information - The company paid a quarterly dividend of $0.14 per share, resulting in a cash outflow of approximately $11 million [8][10] - The cash balance increased to $446 million, a sequential increase of approximately $40 million [8] Q&A Session Summary Question: Insights on U.S. customer sentiment and oil prices - Management indicated that customers are cautious, with concerns about potential declines in oil prices, and are not basing budgets on higher oil prices [25][26] Question: International opportunities for spoolable technologies - Management noted strong international demand, particularly in the Middle East and Africa, with new orders and increased personnel in these regions [27][28] Question: Pressure Control margin performance - Management attributed margin improvements to effective supply chain management and customer support, emphasizing the flexibility of their variable cost structure [30][31] Question: Update on the new wellhead system introduction - Management confirmed plans to introduce the new wellhead system in Q1 2026 [34] Question: Cactus SPC transaction and earnings power - Management provided insights on the integration planning for the Baker Hughes acquisition, expressing cautious optimism about future earnings potential [42][43]

Core Insights - Cactus, Inc. reported a revenue of $263.95 million for the quarter ended September 2025, reflecting a 10% decrease year-over-year, while EPS was $0.67 compared to $0.79 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate by 3.86%, and the EPS surpassed the consensus estimate by 15.52% [1] Financial Performance Metrics - Revenue from Spoolable Technologies was $95.24 million, exceeding the average estimate of $87.43 million, but showing a year-over-year decline of 11.9% [4] - Revenue from Pressure Control was $168.71 million, slightly above the average estimate of $167.51 million, with a year-over-year decrease of 8.9% [4] - Operating income for Pressure Control was reported at $44.52 million, surpassing the average estimate of $38.96 million [4] - Corporate and other expenses resulted in an operating loss of $9.1 million, worse than the average estimate of a loss of $7.36 million [4] - Operating income for Spoolable Technologies was $25.81 million, exceeding the average estimate of $21.72 million [4] Stock Performance - Cactus shares have returned -0.2% over the past month, contrasting with the Zacks S&P 500 composite's increase of 3.8% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Insights - Cactus, Inc. reported a revenue of $273.58 million for the quarter ended June 2025, reflecting a 5.8% decline year-over-year and falling short of the Zacks Consensus Estimate of $275.61 million by 0.74% [1] - The company's EPS was $0.66, down from $0.81 in the same quarter last year, and also slightly below the consensus estimate of $0.67, resulting in an EPS surprise of -1.49% [1] Revenue Breakdown - Spoolable Technologies generated revenues of $96.23 million, exceeding the average estimate of $94.13 million, but showing a year-over-year decline of 7.2% [4] - Pressure Control revenues were reported at $179.77 million, which was below the average estimate of $182.33 million, marking a 4% decrease year-over-year [4] Operating Income Analysis - Operating income for Pressure Control was $42.33 million, falling short of the average estimate of $50.05 million [4] - Corporate and other expenses resulted in an operating loss of $9.58 million, worse than the estimated loss of $7.5 million [4] - Spoolable Technologies reported an operating income of $28.05 million, surpassing the average estimate of $24.83 million [4] Stock Performance - Cactus shares have returned +4.7% over the past month, outperforming the Zacks S&P 500 composite's +3.4% change [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Insights - Cactus, Inc. reported revenue of $280.32 million for the quarter ended March 2025, reflecting a 2.3% increase year-over-year and a 4.67% surprise over the Zacks Consensus Estimate of $267.82 million [1] - The company's EPS was $0.73, down from $0.75 in the same quarter last year, with a surprise of 4.29% over the consensus estimate of $0.70 [1] Revenue Performance - Spoolable Technologies revenue was $92.58 million, exceeding the average estimate of $89.61 million, but showing a decline of 6.6% compared to the previous year [4] - Pressure Control revenue reached $190.28 million, surpassing the average estimate of $178.44 million, and increased by 8.7% year-over-year [4] Operating Income - Operating income for Pressure Control was $54.33 million, above the average estimate of $51.71 million [4] - Corporate and other expenses reported an operating loss of $9.60 million, worse than the average estimate of -$6.43 million [4] - Operating income for Spoolable Technologies was $23.88 million, slightly above the average estimate of $23.29 million [4] Stock Performance - Cactus shares have returned -2.3% over the past month, compared to a -0.5% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]