Cactus Posts $430.9M in Q3 Revenue
WHD sits 64% above its 52-week low of $39.16.
Summary
Cactus reported third-quarter revenue of $430.9M and earnings per share of 87c. Revenue is down from the $449.5M booked in Q2, when revenue jumped 64% on the Cactus International acquisition. The sequential decline lines up with the 8-K guidance issued September 8th, which flagged Pressure Control revenue falling low double digits at 23-25% margins while Spoolable Technologies held up. The headline gives revenue and EPS only — no margin or segment detail — so the profit picture, especially the thin contribution from the acquired international unit, is still unknown.
At the time of this announcement, WHD was trading at $64.34 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $5.2B. The 52-week trading range was $39.16 to $74.07. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.