Cactus, Inc. Reports Q3 2026 Results with Spoolable Technologies Growth Amid Pressure Control Decline
Cactus, Inc. (WHD) reported third-quarter revenue of $430.9 million, a 4.1% sequential decrease primarily driven by lower product shipments in the Middle East within its Pressure Control segment. Despite this dip, Adjusted EBITDA remained stable at $132.0 million, and Adjusted EPS rose to $0.96 due to lower purchase price accounting adjustments. The company saw significant strength in its Spoolable Technologies segment, which grew 20.2% sequentially to $126.9 million, bolstered by international shipments and domestic activity. Total backlog increased significantly by approximately $160 million from the previous quarter, reaching $615.6 million. Looking ahead, management warned of margin compression in the Pressure Control segment for Q4 due to the non-recurrence of tariff recovery and unfavorable customer mix. However, the company is investing heavily in future capacity, including a planned $100 million manufacturing facility in the Middle East expected to operate by 2029.
Topics: Adjusted EBITDA Backlog Capital Expenditures EPS Revenue
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