The following is a summary of the Cactus Inc (WHD) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Cactus Inc reported Q2 2024 revenue of $290 million, with a year-to-date increase.

• Adjusted EBITDA reported at $104 million for Q2, marking an 8.7% increase from the first quarter.

• Net income for Q2 2024 was $63 million, increasing from $50 million in the first quarter.

• The quarterly dividend was increased by 8% to $0.13 per share.

Business Progress:

• Cactus Inc introduced Jay Nutt as the new CFO and highlighted his immediate impact and value to their financial leadership.

• Announced the initial shipments of a next-generation wellhead system aiming to enhance manufacturing cost profile and features for customers.

• Outlined efforts to optimize production trees sales and new frac valve development aimed at reducing maintenance costs.

Opportunities:

• Cactus Inc sees substantial growth opportunities through international expansion, particularly expecting significant advancements in spoolable technologies internationally.

Risks:

• The company forecasts a moderate mid-single digit decline in Pressure Control revenue for Q3 due to lower average U.S. land drilling activity and uncertainties in production equipment shipments.

More details: Cactus IR

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