Exhibit 99.1 Cactus Announces Third Quarter 2024 Results HOUSTON – October 30, 2024 – Cactus, Inc. (NYSE: WHD) ("Cactus" or the "Company") today announced financial and operating results for the third quarter of 2024. Third Quarter Highlights • Revenue of $293.2 million and operating income of $76.8 million; • Net income of $62.4 million and diluted earnings per Class A share of $0.74; • Adjusted net income of $63.5 million and diluted earnings per share, as adjusted of $0.79; • Net income margin of 21.3% a ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $290 million, with adjusted EBITDA of $104 million, resulting in an adjusted EBITDA margin of 35.7% [4][10] - Cash balance increased to $247 million, and the Board approved an 8% increase in the quarterly dividend to $0.13 per share [4][13] - GAAP net income rose to $63 million from $50 million in the previous quarter, driven by stronger operational performance [9][10] Business Segment Data and Key Metrics Changes - **Pressure Control Segment**: Revenues increased by 6.9% sequentially to $187 million, with operating income up by 7.7% [6] - **Spoolable Technologies Segment**: Revenues rose by 4.7% sequentially, with operating income increasing by $13.6 million [7] Market Data and Key Metrics Changes - North American land activity has declined year-to-date, but the company reported improved revenues and margins in both segments despite this trend [4] - The average public ownership of the company was 83% and ended the quarter at 84% [9] Company Strategy and Development Direction - The company is focused on international expansion and enhancing its product offerings, including the rollout of a next-generation wellhead system [15][20] - The goal is to achieve 40% of revenue from international markets in the coming years [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operational outlook for the third quarter, expecting moderate revenue declines in the Pressure Control segment due to lower U.S. land drilling activity [14] - The company anticipates stable adjusted EBITDA margins in the Disposable Technology segment [16] Other Important Information - The company is reducing its full-year 2024 net CapEx outlook to $35 million to $45 million due to the timing of international expansion efforts [13] - The final payment of $37 million related to the Flexsteel earnout is expected in the third quarter [13] Q&A Session Summary Question: Expansion on international momentum in spoolable - Management noted increased quoting activity and the addition of installation equipment to facilitate growth in international markets [22] Question: Outlook for U.S. rig count in the back half of the year - Management believes the worst is behind regarding rig counts and expects stability around current levels [23][24] Question: Strategy for building out international business - The company is taking a holistic approach to grow its spoolable segment internationally, leveraging existing resources and relationships [30] Question: Impact of potential increased tariffs on manufacturing - Management indicated that they are well-positioned to handle potential tariff increases, as they manufacture more in the U.S. than competitors [35][36] Question: Drilling efficiencies and quantification - Management reported a 10% increase in wellhead shipments against the same number of rigs, indicating improved drilling efficiencies [39][40] Question: Details on significant orders from a large customer - Management highlighted optimism about growth in the production segment due to increased inquiries and a focus on quality and service [42][44] Question: Margin profile with new manufacturing facility and products - Management expressed confidence that margins will hold up well even in a challenging environment, with a responsible rollout of new products [46]

Revenue Performance - For the six months ended June 30, 2024, Cactus derived 76% of total revenues from product sales, 9% from rentals, and 15% from field service and other[76]. - Total revenues for the second quarter of 2024 were $290.4 million, an increase of $16.3 million, or 5.9%, from the first quarter of 2024[88]. - Total revenues for the first six months of 2024 were $564.5 million, an increase of $30.3 million, or 5.7%, compared to $534.2 million in the same period of 2023[94]. Segment Performance - Pressure Control segment revenue for Q2 2024 was $187.2 million, up 6.9% from Q1 2024, driven by increased customer activity[89]. - Spoolable Technologies segment revenue for Q2 2024 was $103.7 million, a 4.7% increase from Q1 2024, with operating income rising to $30.0 million[90]. - Pressure Control segment revenue decreased by $31.6 million, or 8.0%, to $362.2 million due to lower sales of wellhead and production-related equipment[94]. - Spoolable Technologies segment revenue increased by $62.4 million, or 44.4%, to $202.8 million, driven by the acquisition of FlexSteel[95]. Income and Expenses - Operating income for the second quarter of 2024 was $79.8 million, reflecting a 27.6% increase from the previous quarter[88]. - Total operating income for the first six months of 2024 was $142.4 million, an increase of $44.2 million, or 45.0%, from $98.2 million in 2023[94]. - Income tax expense for Q2 2024 was $18.2 million, an increase of 35.3% from $13.4 million in Q1 2024, primarily due to higher operating income[92]. - Net income attributable to Cactus Inc. was $88.8 million, an increase of $21.1 million, or 31.3%, compared to $67.6 million in the first half of 2023[94]. Cash Flow and Capital Expenditures - Cash and cash equivalents as of June 30, 2024, were $246.5 million, with $220.1 million available under the Amended ABL Credit Facility[99]. - Net cash provided by operating activities was $164.2 million, a decrease from $168.5 million in the same period of 2023, primarily due to increased working capital outflows[105]. - Net cash used in investing activities significantly decreased to $14.1 million from $639.5 million in 2023, mainly due to the prior year's acquisition of FlexSteel[106]. - Net cash used in financing activities was $37.2 million for the first half of 2024, compared to net cash provided of $190.7 million in 2023, reflecting changes related to the FlexSteel acquisition[107]. - Estimated net capital expenditures for 2024 are projected to range from $35 million to $45 million, focusing on rental fleet investments and manufacturing enhancements[102]. Market Conditions - Average WTI oil price for Q2 2024 was $81.81 per barrel, compared to $74.73 per barrel in Q2 2023, indicating a year-over-year increase[82]. - Average natural gas price for Q2 2024 was $2.06 per MMBtu, down from $2.40 per MMBtu in Q2 2023[82]. - U.S. land drilling rigs averaged 583 in Q2 2024, down approximately 13% from the 2023 full year average of 720[83]. Acquisitions - Cactus completed the acquisition of FlexSteel on February 28, 2023, enhancing its position in the E&P industry[73].

Cactus, Inc. (WHD) came out with quarterly earnings of $0.81 per share, beating the Zacks Consensus Estimate of $0.70 per share. This compares to earnings of $0.84 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 15.71%. A quarter ago, it was expected that this company would post earnings of $0.67 per share when it actually produced earnings of $0.75, delivering a surprise of 11.94%. Over the last four quarters, the company has ...

Financial Performance - Revenue for Q2 2024 was $290.4 million, a sequential increase of 5.5% from $274.1 million in Q1 2024[2] - Operating income rose to $79.8 million, reflecting a 27.5% operating income margin, up from 22.8% in Q1 2024[2] - Net income for the quarter was $63.1 million, with a net income margin of 21.7%, compared to 18.2% in the previous quarter[2] - Adjusted EBITDA was $103.6 million, representing a margin of 35.7%, an increase from 34.8% in Q1 2024[2] - Total revenues for Q2 2024 were $290,389 thousand, a decrease of 5% from $305,819 thousand in Q2 2023[17] - Net income for Q2 2024 was $63,059 thousand, compared to $32,459 thousand in Q2 2023, representing a 94% increase[17] - Earnings per Class A share - diluted for Q2 2024 was $0.75, up from $0.38 in Q2 2023, reflecting a 97% increase[17] - Adjusted net income for the same period was $65,192 thousand, compared to $59,600 thousand in the previous quarter and $67,279 thousand in the same quarter last year[23] - Total operating income for the three months ended June 30, 2024, was $79,819 thousand, compared to $62,550 thousand for the same period last year, indicating a growth of 27.7%[32] Segment Performance - Pressure Control revenue increased by $12.2 million, or 6.9%, sequentially, driven by improved customer drilling efficiencies[5] - Spoolable Technologies revenue grew by $4.6 million, or 4.7%, sequentially, with operating income increasing by 83.3% due to lower expenses related to the FlexSteel acquisition[6] - Operating income for the Pressure Control segment was $55,669 thousand in Q2 2024, down from $62,888 thousand in Q2 2023, a decrease of 11%[17] - The Spoolable Technologies segment reported an operating income of $30,041 thousand in Q2 2024, recovering from an operating loss of $(6,018) thousand in Q2 2023[17] - Revenue from Spoolable Technologies segment was $103,716 thousand for the three months ended June 30, 2024, an increase from $99,095 thousand in the previous quarter, representing a growth of 2.6%[32] - The company reported an operating income (loss) margin of 29.0% for the Spoolable Technologies segment for the three months ended June 30, 2024, compared to 16.5% in the previous quarter[32] Cash Flow and Capital Expenditures - Cash flow from operations was $78.0 million, with cash and cash equivalents totaling $246.5 million and no bank debt outstanding as of June 30, 2024[9] - Net capital expenditures for Q2 2024 were $7.2 million, with full-year expectations set between $35 million to $45 million[9] - Cash and cash equivalents increased to $246,503 thousand as of June 30, 2024, from $133,792 thousand at the end of 2023, marking an 84% increase[19] - Net cash provided by operating activities for the six months ended June 30, 2024, was $164,218 thousand, slightly down from $168,518 thousand in the same period of 2023[21] Assets and Liabilities - Total assets rose to $1,626,393 thousand as of June 30, 2024, compared to $1,522,561 thousand at the end of 2023, indicating a 7% increase[19] - Total liabilities increased to $471,597 thousand as of June 30, 2024, from $457,791 thousand at the end of 2023, a rise of 3%[19] - The company reported a deferred tax asset of $206,409 thousand as of June 30, 2024, compared to $204,852 thousand at the end of 2023, showing a slight increase[19] Dividend and Future Outlook - The Board approved an 8% increase in the quarterly dividend to $0.13 per share, reflecting confidence in future performance[3] - The company anticipates stable U.S. land activity levels in Q3 2024, with potential revenue moderation in Pressure Control due to lower drilling activity[3] Adjusted Metrics - Adjusted EBITDA for the three months ended June 30, 2024, was $103,637 thousand, an increase from $95,332 thousand in the previous quarter but a decrease from $115,419 thousand in the same quarter last year[27] - Adjusted EBITDA margin for the same period was 35.7%, compared to 34.8% in the previous quarter and 37.7% in the same quarter last year[27] - Diluted earnings per share, as adjusted, was $0.81 for the three months ended June 30, 2024, compared to $0.75 in the previous quarter and $0.84 in the same quarter last year[23] - Total Adjusted EBITDA for the six months ended June 30, 2024, was $198,969 thousand, compared to $194,830 thousand for the same period last year, showing a slight increase of 2.2%[32] Other Expenses - Corporate and other expenses totaled $(5,891) thousand for the three months ended June 30, 2024, compared to $(5,518) thousand in the previous quarter, indicating an increase in expenses[32] - The company reported a remeasurement loss on earn-out liability of $2,876 thousand for the three months ended June 30, 2024, compared to $13,304 thousand in the previous quarter[27] - The company incurred transaction-related expenses of $2,191 thousand in the same quarter last year, which were not present in the current quarter[27]

Core Viewpoint - Cactus, Inc. is expected to report a year-over-year decline in earnings and revenues, with the consensus EPS estimate revised lower, indicating a bearish outlook from analysts [3][5][13]. Earnings Expectations - The company is projected to post quarterly earnings of $0.70 per share, reflecting a decline of 16.7% year-over-year [5]. - Revenues are anticipated to be $274.7 million, down 10.2% from the same quarter last year [13]. Estimate Revisions - The consensus EPS estimate has been revised 2.57% lower over the last 30 days, showing a collective reassessment by covering analysts [13]. - Cactus has an Earnings ESP of -1.07%, suggesting that the Most Accurate Estimate is lower than the Zacks Consensus Estimate, indicating a negative sentiment among analysts [8][9]. Earnings Surprise History - Over the last four quarters, Cactus has beaten consensus EPS estimates three times, but the current indicators do not suggest a strong likelihood of an earnings beat for the upcoming report [20][21]. Zacks Rank and Predictive Power - The stock currently holds a Zacks Rank of 3 (Hold), which does not strongly favor an earnings beat [16]. - A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a higher Zacks Rank, but Cactus's current metrics do not align favorably [15].

CALGARY, Alberta, July 15, 2024 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (TSX:GEI) ("Gibson" or the "Company") announced today the extension of a long-term contract with an investment grade global E&P company at its Gateway Terminal and the sanction of a connection to the Cactus II Pipeline. The specific terms of the customer contract are confidential. The Company has sanctioned a pipeline connection (the "Connection") to the Cactus II Pipeline pursuant to an interconnection agreement with Cactus II Pipeline, ...

Financial Data and Key Metrics Changes - Total Q1 2024 revenues were $274 million, with adjusted EBITDA of $95 million and adjusted EBITDA margins of 34.8% [6][7] - GAAP net income decreased to $50 million from $62 million in the previous quarter, largely due to increased remeasurement of the earn-out liability [8] - Adjusted net income and earnings per share were $60 million and $0.75 per share, respectively, compared to $65 million and $0.81 per share in the fourth quarter [8][9] Business Line Data and Key Metrics Changes - Pressure Control segment revenues were $175 million, down 3% sequentially, with operating income decreasing by $4.4 million or 7.8% [7] - Spoolable Technologies segment revenues increased by 5% sequentially to $99 million, driven by higher customer demand [7] - Adjusted segment EBITDA for Pressure Control decreased by 6.2% sequentially, while Spoolable Technologies saw a slight decrease of 1.1% [7] Market Data and Key Metrics Changes - The U.S. land rig count is expected to slightly decline, impacting Pressure Control revenue, which is anticipated to remain flat in Q2 2024 [10] - The market for surface pressure control equipment in Saudi Arabia is estimated to exceed $0.5 billion annually, indicating potential growth opportunities [10] Company Strategy and Development Direction - The company plans to introduce a new generation wellhead, which is expected to impact operating results later in the year [10] - Expansion plans in the Mid-East are being pursued, with two viable options currently under consideration [10] - The company is focusing on low-cost supply chain diversification and enhancing relationships with core customers to improve cash flows and returns [13] Management's Comments on Operating Environment and Future Outlook - Management expressed limited optimism regarding U.S. activity levels for 2024, anticipating a plateau in the second half of the year [13] - Increased inquiries related to CCUS and hydrogen transmission testing indicate potential growth in new applications [14] - The integration of Spoolable Technologies is progressing well, with increasing orders from a major new midstream customer [13][14] Other Important Information - The company paid a quarterly dividend of $0.12 per share, resulting in a cash outflow of approximately $10 million [9] - The cash balance increased to $194 million, a sequential increase of approximately $60 million [9] Q&A Session Summary Question: When will international opportunities start showing up on the income statement? - Management expects meaningful international contributions to begin next year [17] Question: What is the outlook for U.S. land market activity in the back half of the year? - Management anticipates a potential plateau in activity as gas production decreases and oil stabilizes [19]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________ FORM 10-Q ______________________________________________________________________________ (MARK ONE) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission Fi ...

Exhibit 99.1 Cactus Announces First Quarter 2024 Results HOUSTON – May 1, 2024 – Cactus, Inc. (NYSE: WHD) ("Cactus" or the "Company") today announced financial and operating results for the first quarter of 2024. First Quarter Highlights Financial Summary | | | | | Three Months Ended | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | March 31, | December 31, | | | March 31, | | | | | 2024 | 2023 | | | (3) 2023 | | | | | | (in thousands) | | | | | Revenues | | $ | 274,123 | $ | 274,866 | $ | 2 ...