WHD

EX-99.1

2 whd-20260930xexhibit991.htm

EX-99.1

Document

Exhibit 99.1

Cactus Announces Third Quarter 2026 Results

HOUSTON – October 28, 2026 – Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced financial and operating results for the third quarter of 2026.

Third Quarter Highlights

•Revenue of $430.9 million and operating income of $94.0 million;

•Net income of $74.1 million and diluted earnings per Class A share of $0.87;

•Adjusted net income(1) of $78.0 million and diluted earnings per share, as adjusted(1) of $0.96;

•Net income margin of 17.2% and adjusted net income margin(1) of 18.1%;

•Adjusted EBITDA(2) and Adjusted EBITDA margin(2) of $132.0 million and 30.6%, respectively;

•Cash and cash equivalents of $354.2 million, with no bank debt outstanding as of September 30, 2026;

•In September 2026, the Board of Directors approved the construction of a new Spoolable Technologies manufacturing facility in the Middle East; and

•In October 2026, the Board of Directors declared a quarterly cash dividend of $0.15 per Class A share.

Financial Summary

Three Months Ended

September 30,June 30,September 30,

202620262025

(in thousands)

Revenues$430,888 $449,528 $263,954

Operating income(3) $94,048 $83,582 $61,234

Operating income margin21.8 %18.6 %23.2 %

Net income$74,091 $61,380 $50,188

Net income margin17.2 %13.7 %19.0 %

Adjusted net income(1) $77,987 $75,113 $53,719

Adjusted net income margin(1) 18.1 %16.7 %20.4 %

Adjusted EBITDA(2) $132,025 $132,780 $86,943

Adjusted EBITDA margin(2) 30.6 %29.5 %32.9 %

(1)    Adjusted net income, Adjusted net income margin and diluted earnings per share, as adjusted are non-GAAP financial measures. These figures assume Cactus, Inc. held all units in its operating subsidiary at the beginning of the period. Additional information regarding non-GAAP financial measures, including the definitions of these measures and the reconciliation of GAAP to non-GAAP financial measures are in the Supplemental Information tables.

(2)    Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See the definitions of these measures and the reconciliation of GAAP to non-GAAP financial measures in the Supplemental Information tables.

(3)    Operating income reflects certain expenses related to the Cactus International and FlexSteel acquisitions, including expenses related to purchase price fair value adjustments of inventory, fixed assets, backlog and other intangible amortization expenses related to purchase price accounting. See the reconciliation of GAAP to non-GAAP financial measures in the Supplemental Information tables for further details.

Scott Bender, CEO and Chairman of the Board of Cactus, commented, “Overall company performance remained exceptionally strong in the third quarter. Our Spoolable Technologies segment meaningfully

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expanded sales with record international shipments and bookings since the acquisition, while achieving excellent margins. Our Pressure Control business declined as anticipated, but margins were more resilient than expected as strong domestic performance and synergy realization helped offset lower operating leverage in our Cactus International Joint Venture. I am also pleased with our order intake in the third quarter as our backlog grew by more than $150 million, nearly doubling in our Spoolable Technologies segment.

“We expect consolidated revenues in the fourth quarter to modestly increase. We believe that the U.S. land rig count will remain approximately flat from today's levels through the remainder of the year. We anticipate that fourth quarter Pressure Control revenues will increase modestly versus the third quarter, as strength in the domestic market is combined with flat activity in the Middle East. In Spoolable Technologies, we expect sales to be up slightly in the fourth quarter, as continued international shipment momentum more than offsets typical North American market seasonality.”

Mr. Bender concluded, “This is a very exciting time for Cactus, and I am pleased to announce the Board's approval of the construction of a Spoolable Technologies manufacturing facility in the Middle East. This facility, expected to commence operations in 2029, will offer a local footprint in a critically important long-term oil and gas region and further benefits from the rapidly expanding unconventional market in the Middle East. Customer demand for our Spoolable products continues to accelerate, and the previously announced expansion of our Baytown manufacturing facility coupled with the development in the Middle East is expected to provide the necessary capacity for several years of growth at what we believe are attractive returns.”

Segment Performance

We report two business segments, Pressure Control and Spoolable Technologies. Corporate and other expenses not directly attributable to either segment are presented separately as Corporate and Other expenses. Cactus International business resul

EX-99.1

2 whd-20260630xexhibit991.htm

EX-99.1

Document

Exhibit 99.1

Cactus Announces Second Quarter 2026 Results

HOUSTON – July 29, 2026 – Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced financial and operating results for the second quarter of 2026.

Second Quarter Highlights

•Revenue of $449.5 million and operating income of $83.6 million;

•Net income of $61.4 million and diluted earnings per Class A share of $0.70;

•Adjusted net income(1) of $75.1 million and diluted earnings per share, as adjusted(1) of $0.93;

•Net income margin of 13.7% and adjusted net income margin(1) of 16.7%;

•Adjusted EBITDA(2) and Adjusted EBITDA margin(2) of $132.8 million and 29.5%, respectively;

•Cash flow from operations of $104.6 million;

•Cash and cash equivalents of $365.8 million, including $92.5 million of cash retained to finalize certain legal restructuring activities related to the Cactus International acquisition, with no bank debt outstanding as of June 30, 2026;

•In July 2026, the Board of Directors approved a 7% increase in the dividend to $0.15 per Class A share per quarter and declared a quarterly dividend of that amount, and;

•Also in July, the Board of Directors approved the expansion of the Board and appointment of Joseph Elkhoury to the Board, bringing substantial international oilfield operating experience to our team.

Financial Summary

Three Months Ended

June 30,March 31,June 30,

202620262025

(in thousands)

Revenues$449,528 $388,349 $273,575

Operating income(3) $83,582 $49,504 $60,805

Operating income margin18.6 %12.7 %22.2 %

Net income$61,380 $40,221 $49,047

Net income margin13.7 %10.4 %17.9 %

Adjusted net income(1) $75,113 $56,172 $53,249

Adjusted net income margin(1) 16.7 %14.5 %19.5 %

Adjusted EBITDA(2) $132,780 $100,050 $86,677

Adjusted EBITDA margin(2) 29.5 %25.8 %31.7 %

(1)    Adjusted net income, Adjusted net income margin and diluted earnings per share, as adjusted are non-GAAP financial measures. These figures assume Cactus, Inc. held all units in its operating subsidiary at the beginning of the period. Additional information regarding non-GAAP financial measures, including the definitions of these measures and the reconciliation of GAAP to non-GAAP financial measures are in the Supplemental Information tables.

(2)    Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See the definitions of these measures and the reconciliation of GAAP to non-GAAP financial measures in the Supplemental Information tables.

(3)    Operating income reflects certain expenses related to the Cactus International and FlexSteel acquisitions, including expenses related to purchase price fair value adjustments of inventory, fixed assets, backlog and other intangible amortization expenses

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related to purchase price accounting. See the reconciliation of GAAP to non-GAAP financial measures in the Supplemental Information tables for further details.

Scott Bender, CEO and Chairman of the Board of Cactus, commented, “The second quarter was a particularly strong period for our business. Order and shipment momentum continued in our Spoolable Technologies segment, and the acceleration of initial deliveries from previously discussed Latin America orders into the second quarter contributed to improved sales and margin mix relative to expectations. Pressure Control results solidly outperformed expectations, driven primarily by improved shipments in the Middle East despite continued conflict disruption, as well as higher domestic activity levels.

“We expect consolidated revenues in the third quarter to be down slightly on a sequential basis. We believe that the U.S. land rig count will increase in the third quarter as supportive commodity prices continue to lead to modestly higher activity primarily from private operators. We anticipate that third quarter Pressure Control revenues will be down 10% versus the second quarter which benefitted from strong backlog execution in Cactus International, more than offsetting domestic resilience. Activity in our Spoolable Technologies segment, however, should increase a further 15% to 20% in the third quarter driven by continued growth in domestic and international markets.”

Mr. Bender concluded, “I am very pleased with the momentum across our business lines, particularly within our Spoolable Technologies segment where the pace of bookings and shipments continues to strengthen. Subsequent to the quarter, we received international purchase orders in excess of $130 million in our Spoolable Technologies and Pressure Control businesses. The global oil and gas market backdrop remains uncertain, but elevated commodity prices have accelerated domestic activity levels and provided us with the opportunity to increase activity with customers who appreciate our efficiency-enhancing technologies and consistent service execution through market cycles. I would like to thank all of our associates for continuing to focus on

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