Cactus, Inc. (NYSE:WHD) Q2 2022 Results Conference Call August 4, 2022 10:00 AM ET

Company Participants

John Fitzgerald - IR

Scott Bender - CEO

Stephen Tadlock - CFO

Conference Call Participants

Cameron Lochridge - Stephens

Connor Lynagh - Morgan Stanley

David Smith - Pickering Energy Partners

David Anderson - Barclays

Scott Gruber - Citigroup

Stephen Gengaro - Stephens

Operator

Good morning, and thank you for standing by. Welcome to the Cactus Second Quarter 2022 Earnings Call. [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, John Fitzgerald. John?

John Fitzgerald

Thank you, and good morning. We appreciate you joining us on today's call. Our speakers will be Scott Bender, our Chief Executive Officer; and Steve Tadlock, our Chief Financial Officer. Also joining us today are Joel Bender, Senior Vice President and Chief Operating Officer; Steven Bender, Vice President of Operations; and Will Marsh, our General Counsel and Vice President of Administration.

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.

And with that, I will turn the call over to Scott.

Scott Bender

Thanks, John, and good morning to everyone. I'm pleased to report that Cactus posted its sixth consecutive quarter of adjusted EBITDA growth over 10%. Results were strong across the board and highlighted the company's best-in-class margin and return profile.

Some second quarter highlights include: revenue increased 17% sequentially to a company record of $170 million. Adjusted EBITDA improved by 31% sequentially. Adjusted EBITDA margins were 33%, up 360 basis points versus the first quarter. We paid a quarterly dividend of $0.11 per share and increased our cash balance to $312 million.