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Mar 31, 2020
Cactus Q1 2020 Earnings Report
Announced financial and operating results for the first quarter of 2020.
Key Takeaways
Cactus, Inc. reported a 9.9% increase in revenues from the previous quarter, reaching $154.1 million, with growth across all business lines. Income from operations grew 11.4% sequentially to $40.2 million. The company's cash balance reached $230 million with no debt outstanding.
Revenues increased 9.9% from fourth quarter 2019 to $154.1 million, with growth across all business lines.
Income from operations grew 11.4% sequentially to $40.2 million.
Net income was reported at $33.1 million and diluted earnings per Class A share of $0.40.
Cash balance of $230 million was reported with no debt outstanding as of March 31, 2020.
Cactus
Cactus
Forward Guidance
Given the magnitude of the activity change, the company is expecting lower revenues and margins across all of its business lines in the second quarter.