Cactus Tops Q3 Earnings and Revenues, Lowers FY'24 Capex View

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Cactus, Inc. WHD reported third-quarter 2024 adjusted earnings of 79 cents per share, which beat the Zacks Consensus Estimate of 74 cents. However, the bottom line declined from the year-ago quarter’s...

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However, the bottom line declined from the year-ago quarter’s...</p>\n\n<a href=\"https://finance.yahoo.com/news/cactus-tops-q3-earnings-revenues-124300581.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cactus Tops Q3 Earnings and Revenues, Lowers FY'24 Capex View</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCactus Tops Q3 Earnings and Revenues, Lowers FY'24 Capex View\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-31 20:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/cactus-tops-q3-earnings-revenues-124300581.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cactus, Inc. WHD reported third-quarter 2024 adjusted earnings of 79 cents per share, which beat the Zacks Consensus Estimate of 74 cents. However, the bottom line declined from the year-ago quarter’s...</p>\n\n<a href=\"https://finance.yahoo.com/news/cactus-tops-q3-earnings-revenues-124300581.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AROC","symbol_name":"Archrock, Inc","start_time":0,"source_url":"https://finance.yahoo.com/news/cactus-tops-q3-earnings-revenues-124300581.html","article_id":"2479367220","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/7U81L95SEaqHrdpCbdkxSg--~B/aD00MTQ7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/e355dece32180ff77ef1c88a91255c16"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479367220","pubTimestamp":1730378580,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Cactus, Inc.WHD reported third-quarter 2024 adjusted earnings of 79 cents per share, which beat the Zacks Consensus Estimate of 74 cents. However, the bottom line declined from the year-ago quarter’s 80 cents.Total quarterly revenues of $293.2 million beat the Zacks Consensus Estimate of $283 million. The top line increased from the year-ago figure of $288 million.The better-than-expected quarterly results can be attributed to increased revenues from both segments. This was partially offset by lower customer drilling activity in the Pressure Control segment.Following the closure of the FlexSteel acquisition, Cactus reported under two business segments — Pressure Control and Spoolable Technologies.Cactus’ capital expenditure and other amount for the quarter totaled $10 million. Operating cash flow amounted to $85.3 million.Cactus had cash and cash equivalents of $303.4 million at the end of the third quarter of 2024. The company had no bank debt outstanding as of Sept. 30, 2024.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"AROC":"Archrock, Inc","SUN":"太阳石油","WMB":"威廉姆斯"},"translate_title":"Cactus第三季度盈利和收入名列前茅，降低24财年资本支出预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AROC":0.9,"SUN":0.9,"WMB":0.9},"content_text":"Cactus, Inc. WHD reported third-quarter 2024 adjusted earnings of 79 cents per share, which beat the Zacks Consensus Estimate of 74 cents. However, the bottom line declined from the year-ago quarter’s 80 cents.\nTotal quarterly revenues of $293.2 million beat the Zacks Consensus Estimate of $283 million. The top line increased from the year-ago figure of $288 million.\nThe better-than-expected quarterly results can be attributed to increased revenues from both segments. This was partially offset by lower customer drilling activity in the Pressure Control segment. \n\nCactus, Inc. Price, Consensus and EPS Surprise\n\nCactus, Inc. price-consensus-eps-surprise-chart | Cactus, Inc. Quote\n\nBusiness Segments\nFollowing the closure of the FlexSteel acquisition, Cactus reported under two business segments — Pressure Control and Spoolable Technologies.\nWHD generated revenues of $185.1 million from the Pressure Control segment, up from $182.5 million reported in the year-ago quarter. The segment was partially affected by decreased customer drilling and completion activity. The top line was above our estimate of $178 million.\nAdjusted Segment EBITDA for Pressure Control totaled $61.9 million, down from $65.3 million in the prior-year quarter. The reported figure was above our estimate of $61.2 million.\nRevenues from the Spoolable Technologies segment came in at $108.2 million, up from $103.7 million in the prior-year quarter. The figure was above our estimate of $100.6 million. The segment was aided by increased customer activity levels.\nAdjusted Segment EBITDA for the unit totaled $42.5 million, flat year over year. The figure was above our estimate of $40 million.\nCapex and Cash Flow\nCactus’ capital expenditure and other amount for the quarter totaled $10 million. Operating cash flow amounted to $85.3 million.\nBalance Sheet\nCactus had cash and cash equivalents of $303.4 million at the end of the third quarter of 2024. The company had no bank debt outstanding as of Sept. 30, 2024.\nOutlook\nCactus expects relatively subdued U.S. land drilling activity levels. In the fourth quarter, the U.S. land rig count is expected to remain stable, with possible activity reductions due to seasonal factors and budget constraints. Pressure Control may see modest sales reversion, with Spoolable Technologies facing typical seasonal contraction, partially offset by international demand.\nIt expects net capital expenditures to be in the band of $32-$37 million for full-year 2024, down from the previously guided range of $35-$45 million.\nZacks Rank and Key Picks\nCurrently, WHD carries a Zacks Rank #3 (Hold).\nInvestors interested in the energy sector may look at some better-ranked stocks like Archrock Inc. AROC, Sunoco LP SUN and The Williams Companies, Inc. WMB. While Archrock sports a Zacks Rank #1 (Strong Buy), Sunoco and Williams Companies carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.\nArchrock is an energy infrastructure company based in the United States. It focuses on midstream natural gas compression, provides natural gas contract compression services and generates stable fee-based revenues.\nThe Zacks Consensus Estimate for AROC’s 2024 EPS is pegged at $1.10. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.\nSunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.\nThe Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $9.28 and $6.76, respectively. The partnership has witnessed upward earnings estimate revisions for 2025 in the past seven days.\nThe Williams Companies is a premier energy infrastructure provider in North America. The company’s core operations include finding, producing, gathering, processing, and transporting natural gas and natural gas liquids. Boasting a widespread pipeline system of more than 33,000 miles, Williams is one of the largest domestic transporters of natural gas by volume.\nThe Zacks Consensus Estimate for WMB’s 2024 EPS is pegged at $1.75. The company has witnessed upward earnings estimate revisions for 2024 in the past seven days.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nWilliams Companies, Inc. (The) (WMB) : Free Stock Analysis Report\nSunoco LP (SUN) : Free Stock Analysis Report\nArchrock, Inc. (AROC) : Free Stock Analysis Report\nCactus, Inc. (WHD) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479367220"}