Cactus Q1 revenue rises to $388.3 million; Class A loss of $0.70 per share
Cactus reported first-quarter 2026 revenue of $388.3 million, up from $280.3 million a year earlier, after closing its Cactus International acquisition on January 1, 2026. Net income fell to $40.2 million from $54.1 million, and a $81.5 million accretion charge on redeemable non-controlling interest led to a diluted loss of $0.70 per Class A share, so the results point in different directions for shareholders.
Key points
- Revenue was $388.3 million versus $280.3 million in Q1 2025 and $261.2 million in Q4 2025.
- Net income was $40.2 million, down from $54.1 million a year earlier; adjusted net income was $56.2 million versus $58.8 million.
- Diluted loss per Class A share was $0.70 (GAAP) and diluted earnings per share, as adjusted, was $0.70, compared with $0.73 a year earlier.
- Management expects Q2 2026 Pressure Control revenue to be approximately flat; full-year 2026 net capital expenditures are expected at $40 million to $50 million.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:07 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.