Oilfield equipment maker Cactus beats Q2 revenue estimates; hikes FY capex view

Cactus

29/07/2026 22:09

Overview
U.S. oilfield equipment maker's Q2 revenue rose and beat analyst expectations
Q2 adjusted EBITDA exceeded analyst expectations
Company raised quarterly dividend by 7% to $0.15 per share

Outlook
Company expects Q3 consolidated revenue to be down slightly sequentially
Pressure Control segment Q3 revenue seen down 10% versus Q2
Spoolable Technologies segment activity expected to increase 15% to 20% in Q3
Company raises 2026 capital expenditure guidance to $55 mln-$65 mln

Result Drivers
SPOOLABLE TECHNOLOGIES MOMENTUM - Co said order and shipment momentum in Spoolable Technologies, including accelerated Latin America deliveries, contributed to improved sales and margin mix
PRESSURE CONTROL SHIPMENTS - Pressure Control results outperformed expectations, driven by improved shipments in the Middle East and higher domestic activity
LOWER CORPORATE EXPENSES - Corporate and other expenses decreased due to lower transaction and integration expenses

Company press release: ID:nBw91Dzv1a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$449.53 mln
$399.34 mln (6 Analysts)
Q2 Adjusted Net Income
 
$75.11 mln
 
Q2 Net Income
 
$61.38 mln
 
Q2 Adjusted EBITDA
Beat
$132.78 mln
$101.81 mln (8 Analysts)
Q2 Adjusted EBITDA Margin
 
29.50%
 
Q2 Operating Income
 
$83.58 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy"
Wall Street's median 12-month price target for Cactus Inc is $67.50, about 29% above its July 29 closing price of $52.32
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads
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July 28 - NOV Inc Q2 revenue beats estimates, helped by offshore project strength
July 27 - Baker Hughes posts smaller-than-expected Q2 revenue drop, tops profit estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)