Headquartered in Houston, TX Fiscal year ends December NYSE: WHD cactuswhd.com
Cactus, Inc. (NYSE: WHD) designs, manufactures, sells and rents highly engineered pressure control and spoolable pipe technologies. Its products are used mainly in onshore unconventional oil and gas wells during the drilling, completion and production phases. The company also provides field services for its products and rental items, covering installation, maintenance and handling of equipment.
Cactus reports two segments:
- Pressure Control, which includes wellhead and pressure control equipment and the Cactus International business, a joint venture with operations in the Middle East including Saudi Arabia.
- Spoolable Technologies, built around the FlexSteel acquisition, which supplies spoolable pipe to domestic and international customers.
The company operates service centers and manufacturing facilities globally, with an emphasis on North America and the Middle East. It is expanding its Baytown spoolable manufacturing facility and has approved a new Spoolable Technologies plant in the Middle East expected to begin operations in 2029. Cactus has Class A and Class B common stock outstanding and pays a quarterly cash dividend. Updated
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.
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Cactus, Inc. (NYSE: WHD) designs, manufactures, sells and rents highly engineered pressure control and spoolable pipe technologies. Its products are used mainly in onshore unconventional oil and gas wells during the drilling, completion and production phases.
24/7 Wall St.'s 12-month price target for WHD is $75.95, rated Buy. The Wall Street consensus target is $71.78. WHD price prediction →
