Exhibit 99.1

Cactus Announces Second Quarter 2018 Results

HOUSTON — August 1, 2018 — Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced financial and operating results for the second quarter of 2018.

Second Quarter 2018 Highlights

·                  Increased revenues 20.4% from the first quarter 2018 to $138.5 million, with double digit growth in all business lines;

·                  Grew income from operations 32.0% sequentially to $46.5 million;

·                  Generated net income of $41.5 million;

·                  Reported diluted earnings per share of $0.46;

·                  Increased Adjusted EBITDA(1) and related margin(2) to $55.1 million and 39.8%, respectively, from $42.7 million and 37.1%, respectively, in the first quarter 2018; and

·                  Generated cash flow from operations of $42.1 million.

Financial Summary

(1)         Adjusted EBITDA is a non-GAAP financial measure.  See definition of Adjusted EBITDA and the reconciliation of GAAP to Non-GAAP financial measures in the Supplemental Information tables.

(2)         The percentage of Adjusted EBITDA to Revenues.

Scott Bender, President and CEO of Cactus, commented, “The second quarter was strong, resulting in double digit sequential revenue growth across all of our business lines and regions.  The improvement in margins reflects our operating leverage and differentiated supply chain capabilities.

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“We expect operating results in the third quarter of 2018 to continue to validate the strength of our business model with new and existing customers.  Our 15 locations throughout the U.S. provide us flexibility to manage changes in activity across various basins.  In addition, we believe the breadth and profile of our customer base better positions us to deal with potential Permian takeaway issues.”

Mr. Bender continued, “Looking to the fourth quarter and early 2019, we expect to commence commercialization of new completions innovations that we have been developing in concert with key customers.”

Revenue Categories

Product

Second quarter 2018 product revenue increased $14.4 million, or 24.4%, sequentially, driven primarily by greater sales volume of wellhead and production equipment. Gross profit increased $6.4 million sequentially with margins improving 150 basis points due to more favorable supply chain execution.  Cactus’ estimated market share(3) was 26.0% for second quarter 2018 compared to 26.4% for first quarter 2018, while the U.S. onshore quarterly rig count averaged 1,017 rigs in second quarter 2018 compared to 948 rigs in first quarter 2018.

Rental

Second quarter 2018 rental revenue increased $5.8 million, or 19.9%, sequentially, due to the Company’s enhanced ability to respond to the increased demand across nearly all the major U.S. basins in which the Company operates. Gross profit increased $4.0 million sequentially with margins improving 190 basis points, resulting from a combination of volume, improved operating efficiencies and pricing.

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Field Service and Other

Second quarter 2018 field service and other revenue increased $3.3 million, or 12.1%, sequentially, due to an increase in billable hours and ancillary services associated with greater volume of product sales and rental activity.  Gross profit increased $1.6 million sequentially with margins increasing 310 basis points due to higher average pricing for billable services compared to first quarter 2018.

Selling, General and Administrative Expenses (“SG&A”)

SG&A for second quarter 2018 was $9.9 million (7.1% of revenues), compared to $9.1 million (7.9% of revenues) for first quarter 2018 and $7.3 million (9.0% of revenues) for second quarter 2017. The sequential increase is primarily related to $0.4 million higher non-cash stock-based compensation expense, as well as increased public company costs.

Supplemental Information

Assuming Cactus, Inc. held all units in Cactus Wellhead, LLC (“Cactus LLC”), its operating company subsidiary, at the beginning of the period, with the resulting additional income tax expense related to the incremental income attributable to Cactus, Inc., the Company’s diluted earnings per share would have been $0.46 for second quarter 2018. The Company believes this supplemental information is useful for evaluating performance period over period.  The table below sets forth additional detail regarding the adjusted amounts.

(a)                                 Represents the increase in tax expense as though Cactus, Inc. owned 100% of Cactus LLC at the beginning of the period, calculated as the difference in tax expense of $4.7 million recorded during second quarter 2018 and what would have been recorded based on a corporate effective tax rate of 24.5% on $46.2 million of income before income taxes.

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(b)                                 Reflects 26,450 shares of Class A common stock plus 48,440 additional shares as if the Class B common stock was exchanged and canceled for Class A common stock at the beginning of the period, plus the dilutive effect of restricted stock unit awards.

Liquidity and Capital Expenditures

As of June 30, 2018, the Company had $28.4 million of cash on hand, no bank debt outstanding and the full $50.0 million of capacity available under the Company’s revolving credit facility.  Operating cash flow was $42.1 million for second quarter 2018 and $80.7 million for the first six months of 2018, reflecting strong operating results.

Net capital expenditures were $15.7 million for second quarter 2018 and $31.3 million for the first six months of 2018.  The majority of the spend related to investments in rental equipment, particularly frac valves, to meet strong customer demand for the Company’s differentiated frac rental equipment.

Other Events

On July 16, 2018, Cactus closed a public offering of 11,196,562 shares of its Class A common stock at $33.25 per share and received $359.3 million of net proceeds after deducting underwriting discounts. Cactus contributed the net proceeds to its operating company subsidiary, Cactus LLC, in exchange for common units representing limited liability company interests in Cactus LLC (“CW Units”). Cactus LLC then used the net proceeds to redeem 11,196,562 CW Units from certain of the other owners of Cactus LLC and a corresponding number of shares of Class B common stock were canceled.

After these transactions, Cactus has outstanding 37,646,562 shares of Class A common stock (representing 50.3% of the total voting power) and 37,243,210 shares of Class B common stock (representing 49.7% of the total voting power).  There was no change in the total aggregate number of shares of Class A common stock and Class B common stock outstanding of 74,889,772 following the completion of the offering.

Conference Call Details

Cactus will host a conference call to discuss financial and operational results tomorrow, Thursday, August 2, 2018 at 9:00 AM Central Time (10:00 AM Eastern Time).

The call will be webcast on Cactus’ website at www.CactusWHD.com. Institutional investors and analysts may participate by dialing (888) 220-8474. International parties may dial (323) 794-2591. The access code is 8571623. Please access the webcast or dial in for the call at least 10 minutes ahead of start time to ensure a proper connection.

An archived webcast of the conference call will be available on the Company’s website shortly after the end of the call.

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About Cactus

Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion (including fracturing) and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates 15 service centers in the United States, which are strategically located in the key oil and gas producing regions, including the Permian, SCOOP/STACK, Marcellus, Utica, Eagle Ford and Bakken, among other areas, and one service center in Eastern Australia.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Cactus’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Forward-looking statements can be identified by the use of forward-looking terminology including “may,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “continue,” or other similar words and include the Company’s expectation of future performance contained herein. These statements discuss future expectations, contain projections of results of operations or of financial condition, or state other “forward-looking” information.  You are cautioned not to place undue reliance on any forward-looking statements, which can be affected by assumptions used or by known risks or uncertainties. Consequently, no forward-looking statements can be guaranteed.  When considering these forward-looking statements, you should keep in mind the risk factors and other factors noted in the Company’s Annual Report on Form 10-K and any Quarterly Reports on Form 10-Q. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any forward-looking statement.

Cactus, Inc.
Stephen Tadlock, 713-396-5748
Vice President and Chief Administrative Officer
IR@CactusWHD.com

Source: Cactus, Inc.

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Cactus, Inc.

Condensed Consolidated Statements of Income

(unaudited)

(a)         Cactus has historically not been subject to U.S. federal income tax at an entity level.  Subsequent to the IPO, Cactus, Inc. will incur federal and state income tax on its share of income from Cactus LLC.

(b)         Dilution excludes 48.4 million shares of Class B common stock as the effect would be anti-dilutive.

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Cactus, Inc.

Condensed Consolidated Balance Sheets

(unaudited)

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Cactus, Inc.

Condensed Consolidated Statements of Cash Flows

(unaudited)

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Cactus, Inc. — Supplemental Information

Reconciliation of GAAP to Non-GAAP Financial Measures

EBITDA and Adjusted EBITDA(1)

(unaudited)

(1)         EBITDA and Adjusted EBITDA are not measures of net income as determined by GAAP. EBITDA and Adjusted EBITDA are supplemental non-GAAP financial measures that are used by management and external users of the Company’s consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. Cactus defines EBITDA as net income excluding net interest expense, income tax and depreciation and amortization. Cactus defines Adjusted EBITDA as EBITDA excluding (gain) loss on debt extinguishment and stock-based compensation.

Cactus management believes EBITDA and Adjusted EBITDA are useful because they allow management to more effectively evaluate the Company’s operating performance and compare the results of its operations from period to period without regard to financing methods or capital structure, or other items that impact comparability of financial results from period to period. EBITDA and Adjusted EBITDA should not be considered as alternatives to, or more meaningful than, net income or any other measure as determined in accordance with GAAP. The Company’s computations of EBITDA and Adjusted EBITDA may not be comparable to other similarly titled measures of other companies. Cactus presents EBITDA and Adjusted EBITDA because it believes they provide useful information regarding the factors and trends affecting the Company’s business.

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Cactus, Inc. — Supplemental Information

Depreciation and Amortization by Category

(unaudited)

Cactus, Inc. — Supplemental Information

Estimated Market Share(3)

(unaudited)

(3)         Market share represents the average number of active U.S. onshore rigs Cactus followed (which Cactus defines as the number of active U.S. onshore drilling rigs to which it was the primary provider of wellhead products and corresponding services during drilling) as of mid-month for each of the three months in the applicable quarter divided by the Baker Hughes U.S. onshore rig count quarterly average.  Cactus believes that comparing the total number of active U.S. onshore rigs to which it was providing its products and services at a given time to the number of active U.S. onshore rigs during the same period provides Cactus with a reasonable approximation of its market share with respect to wellhead products sold and the corresponding services it provides.

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