Cactus (WHD) Q3 2026: EPS Beats by 24% as Backlog Hits $615.6M
As seen on the 24/7 Wall St. homepage on October 28, 2026.
Backlog reached $615.6 million, which is why revenue missing expectations barely registers next to earnings beating expectations by 24%. Management also approved a Middle East spoolable plant for 2029 and guided fourth quarter revenue modestly higher.
Continue ReadingShow less
Cactus posted adjusted earnings per share of $0.96 for the third quarter of 2026, beating expectations, while revenue came in slightly below estimates.
The number that matters for forward-looking investors is the backlog: $615.6 million at quarter end, with Spoolable Technologies' backlog nearly doubling. That order momentum points to timing, not weakening demand, behind the top-line shortfall.
Pressure Control revenue fell 11.4% sequentially on lower Middle East product shipments, though domestic strength and synergy realization cushioned margins. Spoolable Technologies expanded sequentially on record international shipments and bookings since the FlexSteel acquisition.
Sponsored
The board approved construction of a new Spoolable Technologies manufacturing facility in the Middle East, targeting what CEO Scott Bender called a rapidly expanding unconventional market in the region. The company also continues expanding its Baytown facility.
For the fourth quarter, Cactus guided for modestly higher consolidated revenues, with both segments expected to rise as domestic and international strength offset North American seasonality. Investors keeping an eye on the stock will want to track whether the record backlog converts into revenue.
Mentioned: WHD