Cactus just released Q3 2026 numbers that show a sharp profit swing while the share price barely moved. The stock closed at US$65.70 on Friday, up only 0.3% on the day, even as basic earnings per share came in at US$0.89 and net income reached US$62.2m.
For an energy equipment and services company, that kind of bottom line, paired with a trailing P/E of around 45x compared with a much lower sector average, creates a clear sentiment test. Price action looks calm. The income statement presents a far more charged picture.
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Q3 2026 Earnings Summary
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Revenue, Q3 2026 vs. Q3 2025: US$430.9m vs. US$264.0m (up about 63%)
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Net Income, Q3 2026 vs. Q3 2025: US$62.2m vs. US$41.6m (up about 49%)
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Basic EPS, Q3 2026 vs. Q3 2025: US$0.89 vs. US$0.61 (up about 47%)
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Adjusted EBITDA, Q3 2026 vs. Q2 2026: US$132m vs. the prior quarter level, with a 30.6% adjusted EBITDA margin in Q3 2026 (margin improved vs. Q2 2026)
Cactus is funding a new Middle East spoolable plant from cash....