Cactus, Inc. (NYSE:WHD) Q2 2023 Earnings Call Transcript August 8, 2023 10:00 AM ET

Company Participants

Alan Boyd - Director of Corporate Development and IR

Scott Bender - Chairman and CEO

Steve Tadlock - CFO

TS - CEO, FlexSteel

Conference Call Participants

Stephen Gengaro - Stifel

David Anderson - Barclays

Kurt Hallead - Benchmark

Saurabh Pant - Bank of America

Operator

Good day, and thank you for standing by. Welcome to the Cactus Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Alan Boyd, Director of Corporate Development and Investor Relations.

Alan Boyd

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 Steve Tadlock, our Chief Financial Officer. Also joining us today are Joel Bender, President; Steven Bender, Chief Operating Officer; TS, CEO of FlexSteel; and Will Marsh, our General Counsel and Executive Vice President.

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.

Scott Bender

Thanks, Alan, and good morning to everyone. We are understandably pleased with the company's performance in the second quarter despite a weakening US landmark. We're particularly proud to be in a net cash position today, well ahead of our internal plan. As you know, free cash flow generation has always been a strength of our company and has been enhanced further by the FlexSteel acquisition.