---
schema_version: "secwatch.filing_event.v1"
accession: "0001699136-23-000064"
form_type: "8-K"
ticker: "WHD"
cik: "0001699136"
company_name: "Cactus, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T09:27:32.149381+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001699136-23-000064
- form_type: 8-K
- ticker: WHD
- cik: 0001699136
- company_name: Cactus, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1699136/000169913623000064/0001699136-23-000064-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1699136/000169913623000064/whd-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001699136-23-000064
- JSON: https://secwatch.observer/filing/0001699136-23-000064.json
- Plain text: https://secwatch.observer/filing/0001699136-23-000064.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1699136/000169913623000064/0001699136-23-000064-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.