Cactus Crushes Q2 Revenue by 12.5%, Lifts Capex and Dividend
WHD sits 58% above its 52-week low of $33.2.
Summary
Cactus delivered a standout Q2: revenue of $449.5M beat consensus by over $50M (12.5%), and adjusted EBITDA of $132.8M crushed the $101.8M estimate. The beat was driven by Spoolable Technologies momentum, including accelerated Latin America deliveries, and stronger Pressure Control shipments in the Middle East. Management raised full-year capex guidance to $55M-$65M and boosted the dividend 7%, signaling confidence. Q3 guidance is mixed—consolidated revenue seen slightly down sequentially, with Pressure Control dropping 10% but Spoolable Technologies jumping 15-20%. This follows a strong Q1 and an extended credit facility in June, painting a picture of operational strength and prudent capital allocation. The stock trades at 16x forward earnings, with a median analyst target of $67.50, suggesting room to run if execution continues. The company filed an 8-K regarding its operations and financial condition.
At the time of this announcement, WHD was trading at $52.32 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $33.20 to $64.30. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.