Revenue Performance - For the three months ended March 31, 2025, total revenues increased to $280.3 million, a rise of 3.0% from $272.1 million in the previous quarter[92]. - Total revenues for Q1 2025 were $280.3 million, an increase of $6.2 million or 2.3% compared to Q1 2024[99]. - Pressure Control segment revenue was $190.3 million, up 7.7% from $176.7 million in the fourth quarter of 2024, driven by increased sales of wellhead and production-related equipment[93]. - Pressure Control segment revenue increased to $190.3 million, up $15.2 million or 8.7% from Q1 2024, driven by higher sales of wellhead and production-related equipment[99]. - Spoolable Technologies segment revenue decreased to $92.6 million, down 3.6% from $96.1 million in the previous quarter, primarily due to reduced customer activity levels[94]. - Spoolable Technologies segment revenue decreased to $92.6 million, down $6.5 million or 6.6% from Q1 2024, primarily due to reduced customer activity levels[100]. Income and Expenses - Operating income for the Pressure Control segment increased to $54.3 million, a 6.9% rise from $50.8 million in the previous quarter[93]. - Total operating income decreased to $68.6 million, down 2.6% from $70.5 million in the fourth quarter of 2024[92]. - Total operating income for Q1 2025 was $68.6 million, an increase of $6.1 million or 9.7% from Q1 2024[99]. - Net income attributable to Cactus Inc. was $44.2 million, a decrease of 5.3% from $46.7 million in the previous quarter[92]. - Net income attributable to Cactus Inc. was $44.2 million, an increase of $5.3 million or 13.5% compared to Q1 2024[99]. - Corporate and other expenses rose to $9.6 million, a 62.7% increase from $5.9 million in the previous quarter, primarily due to professional fees associated with growth initiatives[96]. - Corporate and other expenses increased to $9.6 million, up $4.1 million or 73.9% from Q1 2024, largely due to professional fees associated with growth initiatives[102]. Cash Flow and Investments - Net cash provided by operating activities was $41.5 million for Q1 2025, a decrease of $44.8 million from $86.3 million in Q1 2024[110]. - Net cash used in investing activities increased to $15.5 million in Q1 2025, primarily due to a $6.0 million investment in a joint venture in Vietnam[111]. - As of March 31, 2025, the company had $347.7 million in cash and cash equivalents and $222.6 million of available borrowing capacity under its Amended ABL Credit Facility[105]. - Estimated net capital expenditures for the year ending December 31, 2025 are projected to range from $40 million to $50 million, focusing on rental fleet investments and manufacturing plant enhancements[108]. Market Conditions - Average WTI oil price for the three months ended March 31, 2025, was $71.78 per barrel, compared to $77.50 per barrel in the same period of 2024[84]. - Average natural gas price increased approximately 70% from the fourth quarter of 2024 to $4.14 per MMBtu[84]. Strategic Initiatives - Cactus Inc. acquired a 40% ownership in a forging manufacturing facility in Vietnam for $6 million to diversify its supply chain[86].

Financial Data and Key Metrics Changes - Total Q1 revenue was $280 million, up 3% sequentially, with adjusted EBITDA of $94 million, an increase of 1.2% sequentially [9][11] - GAAP net income for Q1 was $54 million, down from $57 million in the previous quarter, primarily due to professional fees incurred at corporate [12] - Adjusted net income and earnings per share were $59 million and $0.73 per share, respectively, compared to $57 million and $0.71 per share in the fourth quarter [12] Business Line Data and Key Metrics Changes - Pressure Control segment revenues were $190 million, up 7.7% sequentially, driven by customer drilling efficiencies [9][10] - Spoolable Technologies segment revenues were $93 million, down 3.6% sequentially due to lower domestic customer activity, partially offset by increased international shipments [10][11] - Operating income for Pressure Control increased by $3.5 million or 6.9% sequentially, while Spoolable Technologies saw a decrease of $1.6 million or 6.5% sequentially [10] Market Data and Key Metrics Changes - International sales in the Spoolable Technologies segment increased by 30% quarter over quarter, driven by robust demand in Canada [22] - The company expects U.S. land drilling activity to decline slightly in the second quarter, with approximately 30 fewer land rigs operating than at the end of Q1 [20] Company Strategy and Development Direction - The company is focused on mitigating tariff impacts by increasing alternative sourcing and ramping up production from its Vietnam facility [16][17] - There is a commitment to international expansion, although no specific updates were provided during the call [26] - The company plans to reduce full-year 2025 net CapEx outlook to a range of $40 million to $50 million while maintaining critical investments [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining profitability despite macroeconomic uncertainties and tariff impacts [27] - The company anticipates a decline in pressure control revenue in Q2 but expects spoolable technologies revenue to increase due to seasonal expansion [20][21] - Management noted that downturns historically create opportunities for new customer acquisition and that they are already seeing such opportunities [90] Other Important Information - The company paid a quarterly dividend of $0.13 per share, resulting in a cash outflow of approximately $11 million [13] - The cash balance at the end of the quarter was $348 million, reflecting a sequential increase of approximately $5 million [13] Q&A Session Summary Question: Transition to Vietnam and cost advantages - Management clarified that Bossier City is not a low-cost operation but offers fast turnaround and robust manufacturing, protecting market share [30] Question: Customer behavior regarding tariffs - Management confirmed that customers have requested to pull forward purchases, but these requests have been denied to maintain fairness among all customers [39] Question: Customer loyalty during downturns - Management indicated that major customers are sticking with the company, emphasizing the importance of supply chain sustainability [42] Question: M&A opportunities in the current environment - Management noted that private equity firms are willing to sell oil field service investments at attractive prices, but the focus remains on the current industry [46] Question: Impact of tariffs on margins - Management acknowledged that there will be some margin compression in the second half of the year due to tariffs, but diversification efforts will help mitigate impacts [68] Question: Ongoing Section 232 investigation - Management expressed that the U.S. lacks adequate steelmaking capacity, which could lead to inflationary pressures [81]

Financial Data and Key Metrics Changes - Total Q1 revenues were $280 million, up 3% sequentially, with adjusted EBITDA of $94 million, up 1.2% sequentially [7][10] - GAAP net income for Q1 was $54 million, down from $57 million in the previous quarter, primarily due to professional fees incurred at corporate [11] - Adjusted net income and earnings per share were $59 million and $0.73 per share, respectively, compared to $57 million and $0.71 per share in the fourth quarter [11] Business Line Data and Key Metrics Changes - Pressure Control segment revenues were $190 million, up 7.7% sequentially, driven by customer drilling efficiencies [7][8] - Operating income for the Pressure Control segment increased by $3.5 million or 6.9% sequentially, while operating margins decreased by 20 basis points [8] - Spoolable Technologies segment revenues were $93 million, down 3.6% sequentially due to lower domestic customer activity [9] Market Data and Key Metrics Changes - International shipments in the Spoolable Technologies segment increased, partially offsetting the decline in domestic activity [9][22] - Sales to international locations were up 30% quarter over quarter, driven by robust demand in Canada [22] Company Strategy and Development Direction - The company is focused on mitigating tariff impacts by increasing alternative sourcing and ramping up production from its Vietnam facility [15][16] - The company expects to neutralize increased tariff expenses by mid-next year, maintaining profitability despite potential margin compression [19][20] - The company remains committed to international expansion and is evaluating further reductions in planned capital expenditures due to market uncertainty [13][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering strong cash flows despite a clouded industry outlook, citing a supportive customer base and diverse supply chain [26] - The company anticipates a decline in pressure control revenue for Q2 due to moderating levels of products sold per rig followed [20] - Management noted that major customers are sticking with the company due to its reliability and sustainability of supply chain [42] Other Important Information - The company paid a quarterly dividend of $0.13 per share, resulting in a cash outflow of approximately $11 million [12] - The company ended the quarter with a cash balance of $348 million, a sequential increase of approximately $5 million [12] Q&A Session Summary Question: Transition from China to Vietnam - Management confirmed that transitioning sourcing to Vietnam will largely neutralize tariff impacts, maintaining absolute profitability despite margin percentage declines [33] Question: Customer Behavior During Downturns - Management noted that customers are attempting to pull forward purchases, but the company has denied these requests to maintain fairness among all customers [39] Question: M&A Opportunities - Management indicated that private equity firms are currently offering attractive prices for oil field service investments, but the focus remains on existing business operations [45] Question: Impact of Tariffs on Margins - Management acknowledged that while there may be some margin compression in the second half of the year due to tariffs, diversification of the supply chain will help mitigate impacts [65] Question: Market for Sour Flexible Pipe - Management expressed optimism about the growing market for sour flexible pipe, particularly in the Middle East, where demand is expected to increase [82]

Core Viewpoint - Cactus, Inc. reported better-than-expected first-quarter 2025 earnings, driven by increased revenues in the Pressure Control segment, despite a decline in overall earnings compared to the previous year [1][2]. Financial Performance - Adjusted earnings per share for Q1 2025 were 73 cents, exceeding the Zacks Consensus Estimate of 70 cents, but down from 75 cents in the same quarter last year [1]. - Total revenues for the quarter reached $280.3 million, surpassing the Zacks Consensus Estimate of $268 million, and showing an increase from $274 million year-over-year [1]. Business Segments - Following the FlexSteel acquisition, Cactus operates under two segments: Pressure Control and Spoolable Technologies [3]. - The Pressure Control segment generated revenues of $190.3 million, up from $175 million in the prior-year quarter, benefiting from increased sales of wellhead and production-related equipment [3]. - Adjusted Segment EBITDA for Pressure Control was $64.8 million, an increase from $60.6 million year-over-year, and above the estimate of $59.7 million [4]. - Revenues from the Spoolable Technologies segment totaled $92.6 million, down from $99.1 million in the prior-year quarter, but exceeded the estimate of $90.2 million [4]. - Adjusted Segment EBITDA for Spoolable Technologies was $33.5 million, down from $38.8 million a year ago, and above the estimate of $32.3 million [5]. Capital Expenditure and Cash Flow - Capital expenditure for the quarter was $15.5 million, while operating cash flow totaled $41.5 million [6]. Balance Sheet - At the end of Q1 2025, Cactus had cash and cash equivalents of $347.7 million and no bank debt outstanding [7]. Outlook - The company anticipates a decline in U.S. land rig count in Q2 2025 due to budget resets amid lower commodity prices, with modest revenue drops in Pressure Control and seasonal growth in Spoolable Technologies [8]. - For the full year 2025, net capital expenditures are expected to be in the range of $40-$50 million, reduced from the previous guidance of $45-$55 million [8].

Cactus, Inc. (WHD) came out with quarterly earnings of $0.73 per share, beating the Zacks Consensus Estimate of $0.70 per share. This compares to earnings of $0.75 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.29%. A quarter ago, it was expected that this company would post earnings of $0.73 per share when it actually produced earnings of $0.71, delivering a surprise of -2.74%.Over the last four quarters, the company has s ...

Exhibit 99.1 Cactus Announces First Quarter 2025 Results HOUSTON – April 30, 2025 – Cactus, Inc. (NYSE: WHD) ("Cactus" or the "Company") today announced financial and operating results for the first quarter of 2025. First Quarter Highlights Financial Summary | | | | | Three Months Ended | | | | --- | --- | --- | --- | --- | --- | --- | | | | March 31, | | December 31, | | March 31, | | | | 2025 | | 2024 | | 2024 | | | | | | (in thousands) | | | | Revenues | $ | 280,319 | $ | 272,121 | $ | 274,123 | | (3) Op ...

Company Overview - Calumet, Inc. (CLMT) shares increased by 12.5% to $10.11 in the last trading session, following a period of 16.6% loss over the past four weeks, indicating a significant recovery in stock performance [1][2] - The company's diverse portfolio includes base oils, specialty oils, waxes, and fuels, which have been meeting and exceeding customer expectations, positioning Calumet for continued growth in key industries such as transportation, industrial, food and agriculture, and personal care [2] Financial Performance - Calumet is expected to report a quarterly loss of $0.28 per share, reflecting a year-over-year change of +54.1%, with revenues projected at $967.6 million, down 3.8% from the previous year [3] - The consensus EPS estimate for the quarter has been revised 17.8% lower over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4] Industry Context - Calumet, Inc. operates within the Zacks Oil and Gas - Integrated - United States industry, where Cactus, Inc. (WHD) also operates, having closed the last trading session 11.7% higher at $39.16, despite a -24.6% return in the past month [4] - Cactus' consensus EPS estimate has changed -3.4% over the past month to $0.67, representing a year-over-year change of -10.7%, and it currently holds a Zacks Rank of 4 (Sell) [5]

Cactus, Inc. (WHD) reported fourth-quarter 2024 adjusted earnings of 71 cents per share, which missed the Zacks Consensus Estimate of 73 cents. The bottom line declined from the year-ago quarter’s figure of 81 cents.Total quarterly revenues of $272.1 million missed the Zacks Consensus Estimate of $276 million. The top line declined from the year-ago figure of $275 million.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The weak quarterly results can be attributed to decreased revenues ...

Financial Data and Key Metrics Changes - Total Q4 revenue was $272 million, down 7.2% sequentially, with adjusted EBITDA of $93 million, also down 7.6% sequentially, resulting in adjusted EBITDA margins of 34.1% [9][12][16] - GAAP net income for the quarter was $57 million, compared to $62 million in the previous quarter, with adjusted net income and earnings per share at $57 million and $0.71 per share, respectively, down from $63 million and $0.79 per share [17][18] Business Line Data and Key Metrics Changes - Pressure control segment revenues were $177 million, down 4.5% sequentially, with operating income decreasing by $1.7 million or 3.3% [13] - Spoolable technology segment revenues were $96 million, down 11.2% sequentially, with operating income decreasing by $7.4 million or 22.4% [14] Market Data and Key Metrics Changes - The company ended the year with a cash balance of $343 million, an increase of approximately $39 million from the previous quarter [20] - The average public ownership of the company was 85% and ended the quarter at 86% [17] Company Strategy and Development Direction - The company is focused on ramping up production at its new facility in Vietnam and introducing new products to enhance value in both segments [29][37] - The strategy includes managing manufacturing costs and expanding internationally, with a long-term goal of achieving 40% of revenue from international markets [34][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in outperforming underlying activity levels in the US market despite trade policy uncertainties [43][44] - The company anticipates a rebound in customer activity in the second and third quarters of 2025, with expectations for increased international orders [31][37] Other Important Information - The company paid a quarterly dividend of $0.13 per share, resulting in a cash outflow of approximately $10 million [19] - Capital expenditures for Q4 were approximately $11 million, with full-year CapEx at around $35 million [21][23] Q&A Session Summary Question: Outlook for US activity in the next few quarters - Management is confident in their ability to outgrow underlying activity levels, anticipating a US rig count in the 550 to 560 range [43][44] Question: Margin headwind from Bossier City facility versus China - The cost comparison indicates that Bossier's costs are at least 35% higher than the Far East supply chain, with increasing tariffs impacting both [46][47] Question: Game plan for mitigating tariff impacts - The company has flexibility between its facilities in Vietnam and Bossier City to mitigate tariff impacts, with a focus on vertical manufacturing capabilities [58][61] Question: Commercialization of H2S solutions - The H2S product is commercialized, with shipments expected to begin in March or April, targeting the Middle East market [70][71] Question: International growth opportunities in pressure control - Management acknowledged progress in international growth but refrained from providing specific details due to ongoing developments [96][97]

Financial Data and Key Metrics Changes - For Q4 2024, total revenue was $272 million, down 7.2% sequentially, with adjusted EBITDA of $93 million, also down 7.6% sequentially, resulting in adjusted EBITDA margins of 34.1% [8][11][15] - GAAP net income for the quarter was $57 million, compared to $62 million in Q3 2024, driven by lower revenues in both segments [16][17] - Adjusted net income and earnings per share were $57 million and $0.71 per share, respectively, down from $63 million and $0.79 per share in Q3 2024 [17][18] Business Line Data and Key Metrics Changes - Pressure control segment revenues were $177 million, down 4.5% sequentially, with operating income decreasing by $1.7 million or 3.3% [12] - Spoolable technology segment revenues were $96 million, down 11.2% sequentially, with operating income decreasing by $7.4 million or 22.4% [13] - Adjusted segment EBITDA for pressure control decreased by $0.5 million or 0.8% sequentially, while spoolable technology segment adjusted EBITDA decreased by $7.3 million or 17.1% [12][14] Market Data and Key Metrics Changes - The company ended the year with a cash balance of $343 million, an increase of approximately $39 million from the previous quarter [19] - The public or Class A ownership of the company averaged 85% and ended the quarter at 86% [16] Company Strategy and Development Direction - The company aims to ramp up production at its new facility in Vietnam and introduce new products to enhance value in both segments [28][36] - Focus on international expansion and diversification of revenue sources, targeting a long-term goal of 40% international revenue contribution [30][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in outperforming underlying activity levels in the US market despite trade policy uncertainties [42][43] - The company anticipates a strong rebound in customer activity in the second and third quarters of 2025, with expectations for increased international orders [30][36] Other Important Information - The board approved a quarterly dividend of $0.13 per share, to be paid in March [23] - The company made a cash tax payment of approximately $25 million in January related to deferred 2024 federal taxes [21] Q&A Session Summary Question: Outlook for US activity in the next few quarters - Management is confident in their ability to outgrow underlying activity levels, anticipating a US rig count in the 550 to 560 range [42][43] Question: Margin headwind comparison between Bossier City and China - Historical costs were at least 35% higher for the Bossier facility compared to the Far East supply chain, with increasing tariffs expected to impact costs [45][46] Question: Game plan for mitigating tariff impacts - The company has flexibility between its facilities in Vietnam and Bossier City to mitigate tariff impacts, with a focus on vertical manufacturing capabilities [57][60] Question: Commercialization of H2S solutions - The H2S product is commercialized, with shipments expected to begin in March or April, targeting the Middle East market [68][70] Question: Spoolable technology growth in 2025 - The company is optimistic about growth in spoolable technology, despite a flat completion activity outlook, with international growth potential remaining strong [80][86] Question: International growth opportunities in pressure control - Management acknowledged progress in international growth but refrained from providing specific details on opportunities in regions like Argentina and the Middle East [95][96]