Cactus reports Q3 EPS 67c, consensus 58c

Reports Q3 revenue $264.0M, consensus $254.1M. Scott Bender, CEO and Chairman of the Board of Cactus (WHD), commented, “I am proud of our performance in the third quarter, which was highlighted by stronger Pressure Control margins and higher Spoolable Technologies revenues and margins than anticipated. Pressure Control revenues declined in-line with expectations while margins improved due to our prompt action to right-size the organization for current activity levels. We also benefitted from lower legal expenses. Spoolable Technologies revenues benefitted from increased international sales.”