Cactus Inc. (WHD) stock plummeted 5.16% during intraday trading on Thursday, significantly underperforming the broader market.
The sharp decline follows the company's report of lower fourth-quarter adjusted earnings and revenue compared to the same period last year. While the earnings of $0.65 per share beat analyst estimates, they were down from $0.71 a year earlier. Revenue also fell to $261.2 million from $272.1 million a year ago.
The stock's weakness was further exacerbated by a broader sell-off in the energy sector, with oil and natural gas futures prices declining during the pre-market session, putting pressure on related equities.
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