Cactus, Inc. Reports 64.4% Revenue Growth to $449.5 Million in Latest Quarter

Cactus, Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $449.5 million for the three months ended June 30, 2026, a 64.4% increase from $273.6 million in the same period last year. For the first half of 2026, revenues totaled $837.9 million, up 51.3% from $553.9 million in the first half of 2025. The company’s net income attributable to Cactus Inc. was $49.0 million for the second quarter, compared to $40.3 million in the prior year, marking a 22.5% increase. The earnings per Class A share for the quarter were $0.70, up from $0.59 a year earlier.

The substantial revenue growth was primarily driven by the company’s Pressure Control segment, which saw revenues increase by 74.1% year-over-year to $644.2 million for the first six months of 2026. This growth was attributed to contributions from the recently acquired Cactus International, which expanded the company’s operational capabilities and geographic reach. The Spoolable Technologies segment also contributed, albeit at a slower pace, with revenues increasing by 3.5% to $195.4 million in the same period.

Cactus, Inc. has made strategic moves to enhance its market position, including the acquisition of FlexSteel in February 2023 and Cactus International in January 2026. The latter acquisition significantly broadened the company’s product offerings and customer base, allowing it to serve both U.S. and international markets more effectively. The company now operates in two segments: Pressure Control and Spoolable Technologies, with the latter focusing on spoolable pipe technologies.

Operationally, Cactus reported a notable increase in its cash and cash equivalents, which rose to $365.8 million as of June 30, 2026, compared to $123.6 million at the end of 2025. The company’s total assets increased to $2.58 billion, up from $1.87 billion at the end of the previous fiscal year, reflecting the impact of its acquisitions. The company also reported a significant rise in accounts receivable, which increased to $510.2 million, indicating higher sales volumes.

Looking ahead, Cactus, Inc. anticipates continued growth driven by strong demand in the oil and gas sector, although it remains cautious about potential market volatility due to geopolitical tensions and fluctuating commodity prices. The company has increased its capital expenditure guidance for 2026 to a range of $55 million to $65 million, primarily to enhance its manufacturing capabilities and meet rising global demand. Cactus remains committed to leveraging its recent acquisitions to strengthen its competitive position in the market.