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Dec 31, 2022
Cactus Q4 2022 Earnings Report
Cactus reported strong Q4 2022 earnings, driven by increased drilling activity and market share gains.
Key Takeaways
Cactus delivered impressive Q4 2022 results, exceeding expectations with significant revenue growth and profitability. The company benefited from robust demand for its products and services, driven by heightened drilling activity and successful market share expansion.
Revenue increased by 44% year-over-year to $272.8 million.
Net income reached $43.4 million, or $0.55 per diluted share.
Adjusted EBITDA totaled $73.1 million, representing a 26.8% margin.
The company expects continued growth in 2023, driven by strong industry fundamentals.
Cactus
Cactus
Forward Guidance
Cactus anticipates continued growth and strong performance in 2023, driven by favorable market conditions and strategic initiatives.
Positive Outlook
- Increased drilling activity expected to continue.
- Strong demand for pressure control and spoolable technologies.
- Continued market share gains.
- Focus on operational efficiency and cost management.
- Strategic investments in new technologies and product development.
Challenges Ahead
- Potential for economic slowdown.
- Fluctuations in oil and gas prices.
- Increased competition.
- Supply chain disruptions.
- Inflationary pressures.