Pre-earnings brief
Reports
Wed, Nov 4, 2026
Est. EPS
—
Est. revenue
—
Implied move
±5.4%
EPS beat rate
75%
—
Est. EPS
$-0.50
Est. Rev
$257M
Impl. Move
±8.7%
Cactus, Inc. (WHD) operates in the energy sector, specifically focusing on oil and gas equipment and services. The company plays a crucial role in supporting the energy industry's infrastructure, which is vital as global demand for energy continues to evolve.
Last quarter
In Q2 2026, Cactus reported an EPS of $0.93, exceeding expectations by nearly 31%. However, the stock saw a slight decline of 1.54% the following day, indicating mixed investor sentiment.
Management promises and guidance
EPS beat streak
4Q
EPS beat rate
75%
Avg EPS surprise
+7.95%
Avg 1-day reaction
+0.36%
Overall, expectations are cautiously optimistic as Cactus has a strong track record of beating EPS estimates. However, investors are wary of potential revenue challenges in a fluctuating energy market.
Bull case
If Cactus can deliver strong EPS and demonstrate solid revenue growth, it could signal robust demand for its services, driving the stock higher.
Bear case
Conversely, if the company fails to meet EPS expectations or shows signs of declining revenue, it could lead to a negative reaction from investors.
Key metrics to watch
Earnings Per Share (EPS)
$0.85EPS is a key indicator of the company's profitability and will help gauge its financial health this quarter.
Revenue Growth
N/ARevenue growth indicates how well the company is expanding its business and capturing market share in a competitive environment.
The print will turn on these.
Q1
What will the EPS be for Q3 2026, and how does it compare to the previous quarter?
Given the strong EPS surprise last quarter, investors will be closely watching for continued growth or any signs of decline.
Q2
How is Cactus addressing potential revenue challenges in the current energy market?
Understanding the company's strategy to navigate market fluctuations will be crucial for assessing future performance.
Why consensus could be wrong
The Street may be underestimating Cactus's ability to adapt to market changes, especially given its recent operational efficiencies.
Supporting evidence
Cactus has consistently beaten EPS estimates, suggesting stronger underlying performance than anticipated.
Insider selling could indicate confidence in the company's long-term strategy despite short-term fluctuations.
Key risk
If the EPS comes in below $0.80, it could challenge the current bullish sentiment.
Pre-commit to what would confirm each case.
This quarter's performance is pivotal as it will reflect the company's ability to sustain growth in a challenging energy landscape.
Bull confirmed if
An EPS of $0.90 or higher would confirm the bull case and suggest strong operational performance.
Bear confirmed if
An EPS below $0.80 would support the bear case, indicating potential struggles in profitability.
What the market is pricing for the move.
Implied Move
±5.36%
Historical Avg
±2.3%
The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.
Options are pricing ±5.4% while WHD has averaged ±2.3% over the last 8 prints — setup is pricing rich.
ATM IV
0.4%
30d HV
29.8%
Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.
Bought
$0.00
0 sh
0 insiders
Sold
$12.4M
200,000 sh
2 insiders
Net
$12.4M
Net selling
Most Active Insiders· 2 open-market trades
$6.2M
Net selling
Smart-money positioning from the most recent 13F filings.
Institutional
112.41%
of float
Insider
0.97%
of float
Holders
452
institutions
Top Holders· as of Jun 2026
Blackrock Inc.
10,664,798 sh · $672.9M
15.29%
4.5%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Cactus beats expectations, history suggests the stock could rise by about 0.69% on the next trading day, confirming strong demand.
In line / cautious
If results are in line with expectations, the stock may see muted movement as investors await further guidance.
Miss
Should the company miss expectations, history indicates a potential decline of around 0.63%, reflecting investor disappointment.
The lines on the call that would change the story.
Operating Margin
N/AOperating margin reflects the efficiency of the company in managing its operations and costs, which is critical in the energy sector.
$6.2M
Net selling
Recent Transactions
Oct 1, 2026 · @ $61.97
100,000 sh
$6.2M
Oct 1, 2026 · @ $61.97
100,000 sh
$6.2M
Open-market trades only (Form 4 codes P/S). Awards, exercises, and tax-withholding excluded as routine compensation noise.
Boston Partners
4,589,743 sh · $289.6M
6.58%
100.0%
Vanguard Portfolio Management LLC
4,264,459 sh · $269.1M
6.12%
2.4%
State Street Corporation
3,151,022 sh · $198.8M
4.52%
3.6%
Vanguard Capital Management LLC
3,123,681 sh · $197.1M
4.48%
1.6%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.