10/29/2026

speaker
Operator
Conference Call Operator

Good day, and thank you for standing by. Welcome to CACTUS Q3 2026 Earnings Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone, and you will then hear an automated message advising your hand is raised. To withdraw your question, press star 1 1 again. Please be advised that today's conference call is being recorded. I would now like to hand the conference over to your first speaker today, Alan Boyd, Treasurer and Director of Corporate Development and Investor Relations. Please go ahead.

speaker
Alan Boyd
Treasurer and Director of Corporate Development and Investor Relations

Thank you, and good morning. We appreciate you joining us on today's call. Our speakers will be Scott Bender, our Chairman and Chief Executive Officer, and Jay Nutt, our Chief Financial Officer. Also joining us today are Joel Bender, President, Steven Bender, Chief Operating Officer, and CEO of Spoolable Technologies, Steve Tadlock, CEO of Cactus International, and Will Marsh, our General Counsel. Please note that any comments we make on today's call regarding projections or expectations for future events are forward-looking statements covered by the Private Securities Litigation Reform Act. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control. These risks and uncertainties can cause actual results to differ materially from our current expectations. We advise listeners to review our earnings release and the risk factors discussed in our filings with the SEC. Any forward-looking statements we make today are only as of today's date, and we undertake no obligation to publicly update or review any forward-looking statements. In addition, during today's call, we will reference certain non-GAAP financial measures. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in our earnings release. With that, I'll turn the call over to Scott.

speaker
Scott Bender
Chairman and Chief Executive Officer

Thanks, Alan, and good morning, everyone. Pressure control sales declined as expected, but bookings accelerated and margins exceeded expectations on improved cost control, synergy realization, and strong domestic performance. Our spoolable technology business grew sales and backlog substantially as international and domestic market momentum continued. Although the global market remains highly dynamic and uncertain, I'm confident that our business, which focuses on differentiated, highly engineered products, will continue to outperform. Some third quarter total company financial highlights include revenue of $431 million, adjusted EBITDA of $132 million, adjusted EBITDA margins of 30.6%, we close the quarter with a cash balance of $354 million, and paid a quarterly dividend of 15 cents per share. Yesterday, we announced that we're planning to construct a spoolable technologies manufacturing facility in the Mideast. And I'll turn the call over to Jay Nutt, our CFO, who will review our financial results. And following his remarks, I'll provide some thoughts on our outlook for the near term before opening the lines for Q&A. Jay?

Disclaimer

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