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Public signal · 1-minute delayed
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AI summary
What happened, with direct paths to the underlying reporting
- Cactus reported Q1 2024 earnings of 75 cents/share, beating estimates. - Revenues of $274 million exceeded estimates due to strong Spoolable Technologies segment. - Pressure Control segment revenues declined, but Spoolable Technologies saw significant growth. - Cactus anticipates a sequential decline in U.S. land activity levels. - Cactus expects net capital expenditures of $45-$55 million for 2024. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings
- Cactus reported Q1 2024 earnings of 75 cents/share, beating estimates.
- Revenues of $274 million exceeded estimates due to strong Spoolable Technologies segment.
- Pressure Control segment revenues declined, but Spoolable Technologies saw significant growth.
- Cactus anticipates a sequential decline in U.S. land activity levels.
- Cactus expects net capital expenditures of $45-$55 million for 2024.
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