Oilfield equipment manufacturer Cactus (NYSE: WHD) will be reporting results this Wednesday after market close. Here’s what to expect.
Cactus beat analysts’ revenue expectations last quarter, reporting revenues of $261.2 million, down 4% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is Cactus a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cactus’s revenue to grow 35.5% year on year, improving from the 2.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cactus has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Cactus’s peers in the u.s. shale e&p segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Crescent Energy delivered year-on-year revenue growth of 24.5%, meeting analysts’ expectations, and Diamondback Energy reported revenues up 4.7%, topping estimates by 10.5%.
Read our full analysis of Crescent Energy’s results here and Diamondback Energy’s results here.
There has been positive sentiment among investors in the u.s. shale e&p segment, with share prices up 5.1% on average over the last month. Cactus is up 9.5% during the same time and is heading into earnings with an average analyst price target of $59.89 (compared to the current share price of $54.48).
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