Cactus Q1 2023 revenue $228.4M, net income $52.3M; closed FlexSteel acquisition

Cactus, Inc.

Revenue $228.4M, net income $52.3M, diluted EPS $0.63.
Adjusted EBITDA $79.4M (34.8% margin); adjusted net income $50.7M ($0.64 diluted EPS).
Closed acquisition of HighRidge Resources (FlexSteel) on Feb 28, 2023; includes one month of FlexSteel results.
Cash flow from operations $60.5M; paid down $60M Term Loan debt subsequent to quarter end.
Underwritten offering of Class A common stock in Jan 2023 for net proceeds $165.6M.

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, 2023 results: revenue $228.4 million, net income $52.3 million, EPS $0.63.

Period: first quarter ended March 31, 2023
Revenue: $228.4 million
Net income: $52.3 million
EPS: $0.63
Result: reported results

Exact text from the filing

results for the first quarter of 2023. First Quarter Highlights • Closed the acquisition of HighRidge Resources, Inc. (“FlexSteel”) on February 28, 2023 (1) ; • Revenue of $228.4 million and operating income of $49.7 million; • Net income of $52.3 million and diluted earnings per Class A share of $0.63; • Adjusted net income (2) of $50.7 million and diluted

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Cactus, Inc. filing history →

Source: SEC EDGAR

accession 0001699136-23-000064

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