Cactus Q1 revenue jumps 38% to $388M on Baker Hughes acquisition; margins compress

Cactus, Inc.

Revenue $388.3M (+38% YoY) driven by Jan 1 closure of Baker Hughes Surface Pressure Control acquisition.
Net income $40.2M ($0.70 diluted loss per share) vs $54.1M YoY; adjusted net income $56.2M ($0.70 adj EPS).
Operating income $49.5M (12.7% margin) down from $68.6M (24.5%) YoY, reflecting acquisition-related costs.
Adjusted EBITDA $100.1M (25.8% margin) vs $93.8M (33.5%) YoY; cash from operations $128.3M.
Cash $291.6M, no bank debt; $97.8M reserved for legal restructuring of acquired business.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cactus, Inc. reported first quarter ended March 31, 2026 results: revenue $388.3 million, net income $40.2 million, EPS diluted loss per Class A share of $0.70.

Period: first quarter ended March 31, 2026
Revenue: $388.3 million
Net income: $40.2 million
EPS: diluted loss per Class A share of $0.70
Result: reported results

Exact text from the filing

1, 2026, Cactus closed on its previously announced acquisition of a majority interest in Baker Hughes' Surface Pressure Control business (“Cactus International”); • Revenue of $388.3 million and operating income of $49.5 million; • Net income of $40.2 million and diluted loss per Class A share of $0.70; • Adjusted net income (1) of $56.2 million and diluted earnings

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Source: SEC EDGAR

accession 0001628280-26-031637

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