Cactus Announces Third Quarter 2026 Results
Business Wire•28/10/2026•17:30 ET
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Key Highlights
- ➤Revenue $430.9M; net income $74.1M; diluted EPS $0.87
- ➤Adjusted EBITDA $132.0M, with 30.6% margin
- ➤Spoolable Technologies revenue rose 20.2% sequentially to $126.9M
- ➤Backlog reached $615.6M after growing more than $150M
- ➤Middle East Spoolable Technologies facility expected to commence operations in 2029
Expert Statements
Scott Bender, CEO and Chairman of the Board of Cactus
“Overall company performance remained exceptionally strong in the third quarter. Our Spoolable Technologies segment meaningfully 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.”
Scott Bender, CEO and Chairman of the Board of Cactus
“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.”
Scott Bender, CEO and Chairman of the Board of Cactus
“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.”
Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced financial and operating results for the third quarter of 2026.
Revenue of $430.9 million and operating income of $94.0 million;
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