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Cactus Q3 Earnings Top Estimates, Revenues Fall Y/Y on Lower Activity
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Key Takeaways
Cactus's Q3 adjusted EPS of $0.67 topped estimates but fell from last year's $0.79.
Q3 revenue of $264M beat forecasts yet slipped from $293M due to lower activity levels.
International sales growth in Spoolable Technologies partly offset the impact of weaker domestic activity.
Cactus, Inc. (WHD - Free Report) reported third-quarter 2025 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 58 cents. The bottom line, however, declined from the year-ago quarter’s figure of 79 cents.
Total quarterly revenues of $264 million topped the Zacks Consensus Estimate of $254 million. However, the top line declined from the year-ago figure of $293 million.
Better-than-expected quarterly results were primarily aided by lower legal expenses in the quarter, along with increased international sales in the Spoolable Technologies segment. However, lower activity levels in the quarter largely offset the positives.
Following the closure of the FlexSteel acquisition, Cactus started reporting under two business segments — Pressure Control and Spoolable Technologies.
The Pressure Control segment generated revenues of $168.7 million, down from $185.1 million reported in the year-ago quarter. The segment was affected by lower sales of wellhead and production equipment, primarily due to lower drilling activity in the third quarter and decreased rental revenues. The top line was marginally higher than our estimate of $168.3 million.
Adjusted Segment EBITDA for Pressure Control totaled $55.2 million, down from $62 million in the prior-year quarter. The reported figure was higher than our estimate of $48.3 million.
Revenues from the Spoolable Technologies segment totaled $95.2 million, down from $108.2 million in the prior-year quarter. The figure beat our estimate of $88.8 million. The segment was impacted due to lower domestic activity levels in the quarter, partially offset by growth in international sales.
Adjusted Segment EBITDA for the unit totaled $36 million, down from $42.5 million a year ago. The figure beat our estimate of $32 million.
Capex and Cash Flow
Cactus’ net capital expenditures for the quarter totaled $8.2 million. Operating cash flow totaled $61.8 million for the third quarter.
Balance Sheet
Cactus had cash and cash equivalents of $445.6 million at the end of the third quarter of 2025. The company had no bank debt outstanding as of Sept. 30, 2025.
Outlook
WHD expects the U.S. land rig count for the fourth quarter to be flat to slightly lower. For full-year 2025, WHD still expects net capital expenditures to be in the range of $40-$45 million.
Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The company boasts a diversified portfolio of crude oil, natural gas, bitumen and synthetic crude oil. It has delivered 25 consecutive years of dividend increases, one of the longest streaks among global oil producers.
Cheniere Energy is involved in LNG-related businesses, which include LNG terminals and natural gas marketing. The company has achieved a milestone with the first production from the first LNG train of its Corpus Christi Stage 3 Liquefaction Project. The project, which includes seven midscale LNG trains, aims to expand the production capacity of the Corpus Christi Liquefaction facility. This expansion is expected to strengthen Cheniere's position in the rapidly growing global LNG market, enabling it to meet the rising demand for LNG both in the United States and internationally.
FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.
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Cactus Q3 Earnings Top Estimates, Revenues Fall Y/Y on Lower Activity
Key Takeaways
Cactus, Inc. (WHD - Free Report) reported third-quarter 2025 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 58 cents. The bottom line, however, declined from the year-ago quarter’s figure of 79 cents.
Total quarterly revenues of $264 million topped the Zacks Consensus Estimate of $254 million. However, the top line declined from the year-ago figure of $293 million.
Better-than-expected quarterly results were primarily aided by lower legal expenses in the quarter, along with increased international sales in the Spoolable Technologies segment. However, lower activity levels in the quarter largely offset the positives.
Cactus, Inc. Price, Consensus and EPS Surprise
Cactus, Inc. price-consensus-eps-surprise-chart | Cactus, Inc. Quote
Business Segments
Following the closure of the FlexSteel acquisition, Cactus started reporting under two business segments — Pressure Control and Spoolable Technologies.
The Pressure Control segment generated revenues of $168.7 million, down from $185.1 million reported in the year-ago quarter. The segment was affected by lower sales of wellhead and production equipment, primarily due to lower drilling activity in the third quarter and decreased rental revenues. The top line was marginally higher than our estimate of $168.3 million.
Adjusted Segment EBITDA for Pressure Control totaled $55.2 million, down from $62 million in the prior-year quarter. The reported figure was higher than our estimate of $48.3 million.
Revenues from the Spoolable Technologies segment totaled $95.2 million, down from $108.2 million in the prior-year quarter. The figure beat our estimate of $88.8 million. The segment was impacted due to lower domestic activity levels in the quarter, partially offset by growth in international sales.
Adjusted Segment EBITDA for the unit totaled $36 million, down from $42.5 million a year ago. The figure beat our estimate of $32 million.
Capex and Cash Flow
Cactus’ net capital expenditures for the quarter totaled $8.2 million. Operating cash flow totaled $61.8 million for the third quarter.
Balance Sheet
Cactus had cash and cash equivalents of $445.6 million at the end of the third quarter of 2025. The company had no bank debt outstanding as of Sept. 30, 2025.
Outlook
WHD expects the U.S. land rig count for the fourth quarter to be flat to slightly lower. For full-year 2025, WHD still expects net capital expenditures to be in the range of $40-$45 million.
WHD’s Zacks Rank and Key Picks
WHD currently has a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the energy sector are Canadian Natural Resources Ltd. (CNQ - Free Report) , Cheniere Energy Inc. (LNG - Free Report) and FuelCell Energy (FCEL - Free Report) . While Canadian Natural Resources currently sports a Zacks Rank #1 (Strong Buy), Cheniere Energy and FuelCell carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The company boasts a diversified portfolio of crude oil, natural gas, bitumen and synthetic crude oil. It has delivered 25 consecutive years of dividend increases, one of the longest streaks among global oil producers.
Cheniere Energy is involved in LNG-related businesses, which include LNG terminals and natural gas marketing. The company has achieved a milestone with the first production from the first LNG train of its Corpus Christi Stage 3 Liquefaction Project. The project, which includes seven midscale LNG trains, aims to expand the production capacity of the Corpus Christi Liquefaction facility. This expansion is expected to strengthen Cheniere's position in the rapidly growing global LNG market, enabling it to meet the rising demand for LNG both in the United States and internationally.
FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.