Cactus, Inc. — Form 8-K
Filed July 29, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
Cactus reported Q2 2026 revenue of $449.5 million (up 64% vs. Q2 2025's $273.6M), operating income of $83.6 million, and net income of $61.4 million ($0.70 diluted EPS). The company increased its quarterly dividend by 7% to $0.15 per Class A share and appointed Joseph Elkhoury to the board. Notably, the company completed the Cactus International acquisition (cash impact of $301M in H1 2026) and holds $92.5M in restricted cash for related restructuring; backlog stands at $455.8M. Post-quarter, the company received international purchase orders exceeding $130M. Management guided Q3 2026 revenues slightly down sequentially but expects Spoolable Technologies growth of 15–20% and Pressure Control decline of 10% versus Q2.
Why this rating
Large recent acquisition (Cactus International) integrated into results; strong organic growth and margin expansion offset by integration costs. Significant relative to ~$3B market cap, but not transformational—acquisition is meaningful but execution risk and guidance complexity remain.
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