Solid Figures and Forward-Looking Strategies at Cactus

Cactus impresses with positive financial figures for the second quarter and provides an outlook on planned strategic steps. Even though North American land activity declined, Cactus was able to increase both revenue and margins in both segments. Revenue amounted to an impressive $290 million, while adjusted EBITDA was $104 million, with an impressive margin of 35.7%. The recently appointed CFO Jay Nutt was warmly welcomed at the announcement of the figures, underscoring his past performance and the value he has already brought to the company. Cactus also announced an 8% increase in the dividend to $0.13 per share, highlighting the company's commitment to shareholder returns. In the pressure control segment, Cactus recorded revenues of $187 million, attributed to large orders from a new major customer. Despite higher freight costs, the company expects a stable margin of 33-35% for the next quarter. The spoolable technology segment also generated positive figures, with international deliveries contributing to increased revenue. Additionally, Cactus plans to expand its international presence and expects to further strengthen its market position with a new generation of products. Nevertheless, the company cautiously considers the potential impacts of further consolidations and the recovery of gas prices. Cactus remains optimistic about overcoming challenges while simultaneously implementing its growth strategies. Particularly exciting: Cactus plans to launch a new, state-of-the-art drilling head system and a frac slider valve to further advance product innovation.