Cactus, Inc. (WHD) Tops Q1 EPS by 5c, Revenues Beat

Cactus, Inc. (NYSE: WHD) reported Q1 EPS of $0.40, $0.05 better than the analyst estimate of $0.35. Revenue for the quarter came in at $154.1 million versus the consensus estimate of $143.11 million.

Highlights

• Increased revenues 9.9% from fourth quarter 2019 to $154.1 million, with growth across all business lines;
• Grew income from operations 11.4% sequentially to $40.2 million;
• Reported net income of $33.1 million(1) and diluted earnings per Class A share of $0.40(1);
• Generated net income, as adjusted(2) of $30.8 million and diluted earnings per share, as adjusted(2) of $0.41;
• Reported Adjusted EBITDA(3) and related margin(4) of $54.1 million and 35.1%, respectively;
• Generated cash flow from operations during the first quarter of 2020 of $45.2 million;
• Reported cash balance of $230 million and no debt outstanding as of March 31, 2020;
• Reported record U.S. land market share of 32.9%, up from 30.9% during the fourth quarter of 2019;
• Announced measures expected to increase total annualized operating cost savings to approximately $60 million from the $35 million previously announced; and
• The Board of Directors declared a quarterly cash dividend of $0.09 per share.

For earnings history and earnings-related data on Cactus, Inc. (WHD) click here.

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