Cactus gains after Q3 profit, revenue beat estimates

Cactus

07/11/2022 14:41

** Shares of oilfield equipment maker Cactus Inc  WHD.N 
rise ~3.5% to $54.94 in morning trading
    ** Co posts Q3 adj. EPS of 52 cents/share, beating estimates
of 48 cents/share as per Refinitiv IBES data
    ** WHD says continued easing of global supply chain
challenges will help accelerate its free cash flow into next
year 
    ** Q3 revenue came in at $184.5 mln vs analysts' view of
$180.9 mln 
    ** "Margins and returns continued to improve during the
third quarter and industry fundamentals remain supportive for
our business" - CEO Scott Bender 
    ** Three of 10 brokerages rate the stock "buy" or higher,
seven "hold"; their median PT is $48 - Refinitiv data
    ** As of last close, shares were down 39.3% YTD
 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))