--- title: "Cactus | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 388.35 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285529732.md" datetime: "2026-05-07T10:29:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285529732.md) - [en](https://longbridge.com/en/news/285529732.md) - [zh-HK](https://longbridge.com/zh-HK/news/285529732.md) --- # Cactus | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 388.35 M Revenue: As of FY2026 Q1, the actual value is USD 388.35 M, beating the estimate of USD 380.77 M. EPS: As of FY2026 Q1, the actual value is USD -0.7, missing the estimate of USD 0.5833. EBIT: As of FY2026 Q1, the actual value is USD 49.5 M. #### First Quarter 2026 Financial Highlights - Cactus, Inc. reported revenue of $388.3 million for the first quarter of 2026 . - Operating income was $49.5 million, with an operating income margin of 12.7% . - Net income reached $40.2 million, resulting in a net income margin of 10.4% . - Adjusted net income was $56.2 million, with an adjusted net income margin of 14.5% . - Adjusted EBITDA stood at $100.1 million, and the Adjusted EBITDA margin was 25.8% . #### Operational Metrics (Year-over-Year and Sequential Comparisons) - Net income for Q1 2026 was $40,221 thousand, compared to $48,302 thousand in Q4 2025 and $54,105 thousand in Q1 2025 . - The net income margin was 10.4% in Q1 2026, down from 18.5% in Q4 2025 and 19.3% in Q1 2025 . - Operating income was $49,504 thousand in Q1 2026, a decrease from $59,850 thousand in Q4 2025 and $68,612 thousand in Q1 2025 . - The operating income margin was 12.7% in Q1 2026, compared to 22.9% in Q4 2025 and 24.5% in Q1 2025 . - Adjusted net income for Q1 2026 was $56,172 thousand, up from $52,134 thousand in Q4 2025 but down from $58,816 thousand in Q1 2025 . - Adjusted net income margin was 14.5% in Q1 2026, compared to 20.0% in Q4 2025 and 21.0% in Q1 2025 . - Adjusted EBITDA was $100,050 thousand in Q1 2026, an increase from $85,493 thousand in Q4 2025 and $93,841 thousand in Q1 2025 . - Adjusted EBITDA margin was 25.8% in Q1 2026, down from 32.7% in Q4 2025 and 33.5% in Q1 2025 . #### Segment Revenue and Operational Metrics (Q1 2026) ##### Pressure Control Segment - Revenue was $300,172 thousand, an increase of $121.7 million or 68.2% sequentially, primarily due to the acquisition of Cactus International . - Operating income was $38,605 thousand, a decrease of $10.1 million or 20.7% sequentially, with margins decreasing by 1,440 basis points due to purchase price accounting-related adjustments totaling $19.0 million . - Adjusted Segment EBITDA was $71,836 thousand, an increase of $12.7 million or 21.4% sequentially, though Adjusted Segment EBITDA margins decreased by 930 basis points . ##### Spoolable Technologies Segment - Revenue was $89,900 thousand, an increase of $5.7 million or 6.8% sequentially, driven by higher domestic and international activity levels . - Operating income was $23,567 thousand, an increase of $2.6 million or 12.6% sequentially, with margins increasing by 130 basis points . - Adjusted Segment EBITDA was $32,902 thousand, higher by $1.8 million or 5.9% sequentially, with Adjusted Segment EBITDA margins decreasing by 30 basis points due to improved operating leverage offset by higher input costs . ##### Corporate and Other Expenses - Corporate and Other Expenses increased by $2.9 million sequentially in Q1 2026, primarily due to $5.8 million in transaction-related expenses from the Cactus International acquisition . #### Cash Flow and Liquidity - Cash Flow from Operations was $128.3 million for the first quarter of 2026 . - Cash and Cash Equivalents totaled $291.6 million as of March 31, 2026, including $97.8 million retained for legal restructuring related to the Cactus International acquisition . - There was no bank debt outstanding as of March 31, 2026 . - The company had $223.7 million of availability under its revolving credit facility . - Net Cash Used in Investing Activities was - $310.0 million for Q1 2026, primarily due to the Cactus International acquisition . - Net Capital Expenditures were $9.0 million during Q1 2026 . - Dividend payments and associated distributions totaled $11.7 million during Q1 2026 . #### Other Key Metrics - Remaining Performance Obligations (Backlog) closed the quarter at $537.5 million, primarily related to the Cactus International business . - As of March 31, 2026, there were 69,415,532 shares of Class A common stock and 10,758,435 shares of Class B common stock outstanding . - The Board approved a quarterly cash dividend of $0.14 per share of Class A common stock . #### Outlook / Guidance Cactus, Inc. anticipates the U.S. land rig count to be flat to up in the second quarter of 2026, driven by more bullish customer sentiment due to higher commodity prices . Second-quarter Pressure Control revenues are expected to be approximately flat, as domestic strength is offset by impacts from the Middle East conflict and logistics disruptions . Activity in the Spoolable Technologies segment is projected to increase in the second quarter, particularly for higher diameter offerings, due to continued momentum and recent U.S. customer inquiries . 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