Cactus, Inc. Announces $100M Middle East Expansion and Q4 Pressure Control Margin Guidance
Cactus, Inc. (WHD) has announced a strategic $100 million investment to develop a spoolable plant in the Middle East, which is projected to begin operations in 2029. This expansion aims to bolster the company's international footprint and long-term production capacity. Despite an expected decline in Pressure Control sales during Q3, management reported that bookings have accelerated. The company also provided positive guidance for its Pressure Control segment, forecasting EBITDA margins between 23% and 25% for the fourth quarter, driven by improved cost controls and synergy realization.
Tickers: $WHD
Topics: bookings acceleration earnings report margin improvement revenue decline