US Stocks Movement: Cactus surges on October 29 – Q3 EPS beats expectations, coil tubing growth, and Middle East plant construction

Cactus October 29 Surge Analysis

Keywords: Q3 EPS surpasses expectations, spooled pipe growth, Middle East factory construction

1. After market close on October 28, Cactus reported adjusted earnings per share of $0.96 for the third quarter of 2026, higher than the institutional forecast of $0.77-$0.78 and $0.67 from the same period last year.

2. After market close on October 28, the company announced third-quarter revenue of $430.9 million, a year-on-year increase of 63.2%; operating income was $94.0 million, net profit was $74.1 million, adjusted net profit was $78.0 million, adjusted EBITDA was $132.0 million with a profit margin of 30.6%. As of September 30, cash and cash equivalents stood at $354.2 million with no bank debt. In October, the board declared a quarterly cash dividend of $0.15 per Class A share.

3. In September, the board approved the establishment of a new Spoolable Technologies manufacturing facility in the Middle East. Third-quarter results disclosed after market on October 28 showed Spoolable Technologies drove quarter-on-quarter growth and expansion of the order backlog, which reached $615.6 million. The company expects moderate revenue growth in the fourth quarter.

(Disclaimer: This content is generated by AI technology based on publicly available information and is for reference only. It does not constitute investment advice.)