Filing Flows › Cactus (WHD) › Q3 2026
Cactus (WHD) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 30, 2026
Cactus (WHD) reported revenue of $431M for the third quarter 2026 (Q3 2026), +63% from a year earlier and -4% from the quarter before. Operating margin was 21.8%, net earnings $62.2M (14.4% of revenue).
Cactus, Q3 2026: revenue $431M (+63% year over year), operating margin 21.8%, net earnings $62.2M, operating cash flow $18.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $431M | -4% | +63% |
| Operating profit | $94.0M | +13% | +54% |
| Net earnings | $62.2M | +27% | +49% |
| Operating cash flow | $18.4M | -82% | -70% |
What changed
Revenue was $430.9M in Q3 2026, up 63% year over year and down 4% from the previous quarter. Product revenue was the largest line at 75% of revenue. Product revenue added $115.5M year over year (up 56%), 69% of the total change.
Operating profit was $94.0M, a 21.8% margin (down 1.4 points year over year). Of the extra revenue versus Q3 2025, 20% reached operating profit, below the 23% margin then. Total costs grew 66% against revenue growth of 63%. The fastest-growing cost line was SG&A (+75%). Net earnings were $62.2M, up 49% year over year. The effective tax rate was 21.9%.
Operating cash flow was $18.4M (down 70% year over year), 25% of net income including minority interests. Non-cash charges added back $26.8M of depreciation and amortization and $7.8M of share-based compensation. Working capital and other items used $90.2M. Capital expenditures of $21.3M exceeded it, leaving free cash flow of −$2.9M.
Questions
What was Cactus' revenue in the third quarter 2026?
Cactus (WHD) reported revenue of $431M for the third quarter 2026 (Q3 2026), +63% from a year earlier and -4% from the quarter before.
Was Cactus profitable in the third quarter 2026?
Operating profit was $94.0M (21.8% of revenue) and net earnings $62.2M.
Source: Cactus 10-Q on SEC EDGAR.