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 49.28 M.<h4>Segment Revenue</h4><ul><li>Pressure Control Segment: Revenue for the three months ended March 31, 2026, was $300.2 million, an increase of $109.9 million (57.8%) compared to $190.3 million for the same period in 2025, primarily due to international contributions from the newly acquired Cactus International joint venture.</li><li>Spoolable Technologies Segment: Revenue for the three months ended March 31, 2026, was $89.9 million, a decrease of $2.7 million (-2.9%) compared to $92.6 million for the same period in 2025, mainly due to reduced customer activity levels in the U.S.</li></ul><h4>Operational Metrics</h4><ul><li>Consolidated Operating Income: Total operating income for the three months ended March 31, 2026, was $49.5 million, a decrease of $19.1 million (-27.8%) compared to $68.6 million for the same period in 2025.</li><li>Pressure Control Segment Profit: Segment profit for the three months ended March 31, 2026, was $38.6 million, a decrease of $15.7 million (-28.9%) compared to $54.3 million for the same period in 2025, driven by purchase accounting impacts and increased tariff-related costs, despite higher operating income from Cactus International.</li><li>Spoolable Technologies Segment Profit: Segment profit for the three months ended March 31, 2026, was $23.6 million, a decrease of $0.3 million (-1.3%) compared to $23.9 million for the same period in 2025, reflecting lower volume.</li><li>Consolidated Net Income: Net income for the three months ended March 31, 2026, was $40.2 million, a decrease of $13.9 million (-25.7%) compared to $54.1 million for the same period in 2025.</li><li>Net Income Attributable to Cactus, Inc.: Net income attributable to Cactus, Inc. for the three months ended March 31, 2026, was $32.9 million, a decrease of $11.3 million (-25.6%) compared to $44.2 million for the same period in 2025.</li><li>Selling, General and Administrative (SG&amp;A) Expenses: Consolidated SG&amp;A expenses for the three months ended March 31, 2026, were $62.1 million, compared to $39.1 million for the same period in 2025.</li><li>Interest Income, net: Net interest income for the three months ended March 31, 2026, was $0.2 million, a decrease of $2.1 million (-90.5%) compared to $2.3 million for the same period in 2025, due to lower cash invested.</li></ul><h4>Cash Flow</h4><ul><li>Operating Cash Flow: Net cash provided by operating activities for the three months ended March 31, 2026, was $128.3 million, an increase from $41.5 million for the same period in 2025, primarily due to an increase in working capital driven by the Cactus International acquisition.</li><li>Investing Activities: Net cash used in investing activities for the three months ended March 31, 2026, was $310.0 million, compared to $15.5 million for the same period in 2025, mainly due to the $371.0 million cash paid to acquire Cactus International, less $70.0 million in cash acquired.</li></ul><h4>Unique Metrics</h4><ul><li>Cactus International Acquisition Impact: From January 1, 2026, through March 31, 2026, Cactus International contributed $126.9 million in revenue and a net loss of $0.5 million to the Company’s consolidated results.</li><li>The acquisition included identifiable intangible assets totaling $228.8 million, comprising customer relationships ($169.7 million), developed technology ($40.4 million), and backlog ($18.8 million), with a weighted average amortization period of 11.3 years.</li><li>Goodwill increased by $45.3 million due to the Cactus International acquisition, allocated to the Pressure Control segment.</li></ul><h4>Future Outlook and Strategy</h4><ul><li>Cactus, Inc. anticipates its existing cash on hand ($291.6 million as of March 31, 2026), cash from operations, and available borrowings to be sufficient for material cash requirements over the next 12 months, with estimated net capital expenditures for 2026 ranging from $40 million to $50 million for U.S. service center enhancements, rental fleet investments, international expansion, and manufacturing plant enhancements.</li><li>The ongoing conflict in Iran is expected to adversely impact Middle East operations, potentially causing disruptions, increased freight costs, and delaying anticipated benefits from Cactus International.</li><li>The company expects elevated tariff expenses on goods from Vietnam and China and higher steel input costs due to Section 232 tariffs, which have affected profitability despite mitigation efforts.</li></ul>

Cactus | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 388.35 M