We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Factors Likely to Determine the Fate of Cactus (WHD) in Q2 Earnings
Read MoreHide Full Article
Cactus Inc (WHD - Free Report) is set to report second-quarter 2024 earnings on Jul 31, after the closing bell.
In the last reported quarter, the company’s earnings of 75 cents per share beat the Zacks Consensus Estimate of 67 cents due to contributions from the Spoolable Technologies segment. WHD’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same once, delivering an average surprise of 12.9%. This is depicted in the graph below.
The Zacks Consensus Estimate for second-quarter earnings per share of 70 cents has witnessed one upward and three downward movements over the past 30 days. The estimated figure suggests a decline of almost 17% from the year-ago quarter’s reported number.
The Zacks Consensus Estimate for second-quarter revenues of $274.7 million indicates a 10.2% decline from the year-ago reported figure.
Factors to Consider
According to the U.S. Energy Information Administration, the average spot prices for West Texas Intermediate crude at Cushing, OK, were $85.35 per barrel in April, $80.02 in May and $79.77 in June. This indicates that the crude pricing environment in the second quarter was highly favorable for exploration and production activities. Despite this favorable pricing, drilling activities declined both domestically and internationally.
Baker Hughes Company (BKR - Free Report) reported that the number of rigs operating in North America during the June quarter was 738, down from 831 in the first quarter. In the international market, the count was 963 in the second quarter, which also declined from the prior quarter.
The decrease in drilling activities in both domestic and international markets suggests that explorers and producers spent less on upstream activities. Lower spending by customers is likely to have affected the demand for highly engineered pressure control and spoolable pipe technologies of the company. The Zacks Consensus Estimate for the company’s operating profit from the Pressure Control business unit is pegged at $55.71 million, marginally higher than $54.54 million in the year-ago quarter.
Earnings Whispers
Our proven model does not indicate an earnings beat for Cactus this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: WHD’s Earnings ESP is -1.07%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are two firms that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
MUSA is scheduled to release second-quarter earnings on Jul 31. The Zacks Consensus Estimate for its earnings is pegged at $6.91 per share, suggesting an almost 15% increase from the prior-year reported figure.
Marathon Oil Corporation (MRO - Free Report) presently has an Earnings ESP of +0.50% and a Zacks Rank #3.
Marathon Oil is scheduled to release second-quarter earnings on Aug 7. The Zacks Consensus Estimate for its earnings is pegged at 69 cents per share, suggesting a 43.8% increase from the prior-year reported figure.
Image: Shutterstock
Factors Likely to Determine the Fate of Cactus (WHD) in Q2 Earnings
Cactus Inc (WHD - Free Report) is set to report second-quarter 2024 earnings on Jul 31, after the closing bell.
In the last reported quarter, the company’s earnings of 75 cents per share beat the Zacks Consensus Estimate of 67 cents due to contributions from the Spoolable Technologies segment. WHD’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same once, delivering an average surprise of 12.9%. This is depicted in the graph below.
Cactus, Inc. Price and EPS Surprise
Cactus, Inc. price-eps-surprise | Cactus, Inc. Quote
Estimate Trend
The Zacks Consensus Estimate for second-quarter earnings per share of 70 cents has witnessed one upward and three downward movements over the past 30 days. The estimated figure suggests a decline of almost 17% from the year-ago quarter’s reported number.
The Zacks Consensus Estimate for second-quarter revenues of $274.7 million indicates a 10.2% decline from the year-ago reported figure.
Factors to Consider
According to the U.S. Energy Information Administration, the average spot prices for West Texas Intermediate crude at Cushing, OK, were $85.35 per barrel in April, $80.02 in May and $79.77 in June. This indicates that the crude pricing environment in the second quarter was highly favorable for exploration and production activities. Despite this favorable pricing, drilling activities declined both domestically and internationally.
Baker Hughes Company (BKR - Free Report) reported that the number of rigs operating in North America during the June quarter was 738, down from 831 in the first quarter. In the international market, the count was 963 in the second quarter, which also declined from the prior quarter.
The decrease in drilling activities in both domestic and international markets suggests that explorers and producers spent less on upstream activities. Lower spending by customers is likely to have affected the demand for highly engineered pressure control and spoolable pipe technologies of the company. The Zacks Consensus Estimate for the company’s operating profit from the Pressure Control business unit is pegged at $55.71 million, marginally higher than $54.54 million in the year-ago quarter.
Earnings Whispers
Our proven model does not indicate an earnings beat for Cactus this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: WHD’s Earnings ESP is -1.07%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are two firms that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Murphy USA Inc. (MUSA - Free Report) currently has an Earnings ESP of +0.13% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
MUSA is scheduled to release second-quarter earnings on Jul 31. The Zacks Consensus Estimate for its earnings is pegged at $6.91 per share, suggesting an almost 15% increase from the prior-year reported figure.
Marathon Oil Corporation (MRO - Free Report) presently has an Earnings ESP of +0.50% and a Zacks Rank #3.
Marathon Oil is scheduled to release second-quarter earnings on Aug 7. The Zacks Consensus Estimate for its earnings is pegged at 69 cents per share, suggesting a 43.8% increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.