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10-Q Filing

CACTUS, INC. CIK: 1699136 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0001558370-19-004535
Period End Date 20190331
Filing Date 20190509
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance whd-20190331.xml
Balance Sheet 67 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $578.00K USD Point-in-time
Allowance for doubtful accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $576.00K USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $70.84M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $88.12M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Accounts receivable, net of allowance of $578 and $576, respectively AccountsReceivableNetCurrent $92.27M USD Point-in-time
Accounts receivable, net of allowance of $578 and $576, respectively AccountsReceivableNetCurrent $107.87M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Inventories InventoryGross $108.18M USD Point-in-time
Inventories InventoryGross $99.84M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $11.03M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $11.56M USD Point-in-time
Total current assets AssetsCurrent $274.50M USD Point-in-time
Total current assets AssetsCurrent $315.20M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $142.05M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $148.86M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $25.11M USD Point-in-time
Goodwill Goodwill $7.82M USD Point-in-time
Goodwill Goodwill $7.82M USD Point-in-time
Deferred tax asset, net DeferredTaxAssetsNetNoncurrent $244.36M USD Point-in-time
Deferred tax asset, net DeferredTaxAssetsNetNoncurrent $159.05M USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $1.31M USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $1.28M USD Point-in-time
Total assets Assets $742.63M USD Point-in-time
Total assets Assets $584.74M USD Point-in-time
Accounts payable AccountsPayableCurrent $42.05M USD Point-in-time
Accounts payable AccountsPayableCurrent $44.85M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $15.93M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $15.65M USD Point-in-time
Current portion of liability related to tax receivable agreement TaxReceivableAgreementLiabilityCurrent $9.57M USD Point-in-time
Current portion of liability related to tax receivable agreement TaxReceivableAgreementLiabilityCurrent $9.57M USD Point-in-time
Finance lease obligations, current portion FinanceLeaseLiabilityCurrent $6.96M USD Point-in-time
Finance lease obligations, current portion FinanceLeaseLiabilityCurrent $7.35M USD Point-in-time
Operating lease liabilities, current portion OperatingLeaseLiabilityCurrent $6.77M USD Point-in-time
Total current liabilities LiabilitiesCurrent $74.62M USD Point-in-time
Total current liabilities LiabilitiesCurrent $84.08M USD Point-in-time
Deferred tax liability, net DeferredTaxLiabilitiesNoncurrent $1.24M USD Point-in-time
Deferred tax liability, net DeferredTaxLiabilitiesNoncurrent $1.04M USD Point-in-time
Liability related to tax receivable agreement, net of current portion TaxReceivableAgreementLiabilityNonCurrent $214.97M USD Point-in-time
Liability related to tax receivable agreement, net of current portion TaxReceivableAgreementLiabilityNonCurrent $138.01M USD Point-in-time
Finance lease obligations, net of current portion FinanceLeaseLiabilityNoncurrent $8.74M USD Point-in-time
Finance lease obligations, net of current portion FinanceLeaseLiabilityNoncurrent $7.22M USD Point-in-time
Operating lease liabilities, net of current portion OperatingLeaseLiabilityNoncurrent $18.75M USD Point-in-time
Total liabilities Liabilities $326.27M USD Point-in-time
Total liabilities Liabilities $222.42M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $189.90M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $126.42M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $51.68M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $78.49M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-259.00K USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-820.00K USD Point-in-time
Total stockholders' equity attributable to Cactus Inc. and members' equity (deficit) StockholdersEquity $268.60M USD Point-in-time
Total stockholders' equity attributable to Cactus Inc. and members' equity (deficit) StockholdersEquity $177.66M USD Point-in-time
Non-controlling interest MinorityInterest $184.67M USD Point-in-time
Non-controlling interest MinorityInterest $147.76M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $416.36M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $362.33M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $227.31M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-36.22M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $742.63M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $584.74M USD Point-in-time
Income Statement 29 line items
Line Item Tag Value Unit Period
Total revenues RevenueFromContractWithCustomerIncludingAssessedTax $158.88M USD 1 Quarter
Total revenues RevenueFromContractWithCustomerIncludingAssessedTax $115.11M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $9.11M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $12.67M USD 1 Quarter
Total costs and expenses OperatingExpenses $79.89M USD 1 Quarter
Total costs and expenses OperatingExpenses $110.38M USD 1 Quarter
Income from operations OperatingIncomeLoss $48.49M USD 1 Quarter
Income from operations OperatingIncomeLoss $35.22M USD 1 Quarter
Interest income (expense), net InterestIncomeExpenseNonoperatingNet $23.00K USD 1 Quarter
Interest income (expense), net InterestIncomeExpenseNonoperatingNet $-2.85M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-4.30M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-1.04M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $28.06M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $47.47M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $-973.00K USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $1.65M USD 1 Quarter
Net income ProfitLossIncludingIncomeFromLimitedLiabilityCompany $48.45M USD 1 Quarter
Net income ProfitLossIncludingIncomeFromLimitedLiabilityCompany $26.41M USD 1 Quarter
Less: pre-IPO net income attributable to Cactus LLC NetIncomeLossAttributableToLimitedLiabilityCompany $13.65M USD 1 Quarter
Less: net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $9.01M USD 1 Quarter
Less: net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $21.64M USD 1 Quarter
Net income attributable to Cactus Inc. NetIncomeLoss $26.81M USD 1 Quarter
Net income attributable to Cactus Inc. NetIncomeLoss $3.75M USD 1 Quarter
Earnings per Class A Share - basic EarningsPerShareBasic $0.69 USD 1 Quarter
Earnings per Class A Share - basic EarningsPerShareBasic $0.14 USD 1 Quarter
Earnings per Class A Share - diluted EarningsPerShareDiluted $0.59 USD 1 Quarter
Earnings per Class A Share - diluted EarningsPerShareDiluted $0.14 USD 1 Quarter
Weighted average Class A Shares outstanding - diluted WeightedAverageNumberOfDilutedSharesOutstanding 26.65M shares 1 Quarter
Weighted average Class A Shares outstanding - diluted WeightedAverageNumberOfDilutedSharesOutstanding 75.25M shares 1 Quarter
Cash Flow Statement 56 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $48.45M USD 1 Quarter
Net income (loss) ProfitLoss $26.41M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $6.62M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $8.88M USD 1 Quarter
Debt discount and deferred loan cost amortization AmortizationOfFinancingCostsAndDiscounts $219.00K USD 1 Quarter
Debt discount and deferred loan cost amortization AmortizationOfFinancingCostsAndDiscounts $42.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $834.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.68M USD 1 Quarter
Inventory obsolescence InventoryWriteDown $451.00K USD 1 Quarter
Inventory obsolescence InventoryWriteDown $224.00K USD 1 Quarter
Loss on disposal of assets GainLossOnDispositionOfAssets1 $-863.00K USD 1 Quarter
Loss on disposal of assets GainLossOnDispositionOfAssets1 $-29.00K USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $-963.00K USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $2.80M USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt $-4.30M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $15.60M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $419.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $8.88M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $5.59M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-2.16M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $56.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $792.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $192.00K USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $737.00K USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $4.01M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiabilities $-1.71M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $34.24M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $38.56M USD 1 Quarter
Capital expenditures and other PaymentsForCapitalExpenditures $14.65M USD 1 Quarter
Capital expenditures and other PaymentsForCapitalExpenditures $16.13M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfProductiveAssets $440.00K USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfProductiveAssets $808.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-13.85M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-15.69M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfLongTermDebt $248.53M USD 1 Quarter
Payments on capital leases FinanceLeasePrincipalPayments $1.85M USD 1 Quarter
Payments on capital leases RepaymentsOfLongTermCapitalLeaseObligations $1.27M USD 1 Quarter
Net proceeds from equity offerings ProceedsFromIssuanceOrSaleOfEquity $469.62M USD 1 Quarter
Distributions to members DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid $26.04M USD 1 Quarter
Distributions to members DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid $235.00K USD 1 Quarter
Redemption of CW Units RepaymentsOfUnitsRedeemed $216.43M USD 1 Quarter
Repurchase of shares PaymentsForRepurchaseOfCommonStock $1.47M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-22.64M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-3.56M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $48.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $438.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $286.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $17.27M USD 1 Quarter
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.57M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $70.84M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $88.12M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.86M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $70.84M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $88.12M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.57M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.86M USD Point-in-time
Stockholders Equity 23 line items
Line Item Tag Value Unit Period
Balance at the beginning of the period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $416.36M USD Point-in-time
Balance at the beginning of the period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $362.33M USD Point-in-time
Balance at the beginning of the period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $227.31M USD Point-in-time
Balance at the beginning of the period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-36.22M USD Point-in-time
Member distributions prior to IPO DistributionMadeToLimitedLiabilityCompanyLlcMemberPriorToIpo $26.00M USD 1 Quarter
Net income prior to IPO and Reorganization NetIncomeLossAttributableToLimitedLiabilityCompany $13.65M USD 1 Quarter
Effect of IPO and Reorganization AdjustmentOfCapitalDueToReorganization $250.97M USD 1 Quarter
Member distribution after IPO MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $41.00K USD 1 Quarter
Member distribution after IPO MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $235.00K USD 1 Quarter
Adjustment to deferred tax asset from CW Unit redemptions AdjustmentToAdditionalPaidInCapitalDeferredTaxAsset $-8.23M USD 1 Quarter
Additional paid-in capital related to tax receivable agreement AdjustmentsToAdditionalPaidInCapitalTaxReceivableAgreement $11.12M USD 1 Quarter
Additional paid-in capital related to tax receivable agreement AdjustmentsToAdditionalPaidInCapitalTaxReceivableAgreement $13.58M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $239.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $270.00K USD 1 Quarter
Equity award vestings StockIssuedDuringPeriodValueShareBasedCompensation $-1.47M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions $834.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions $1.68M USD 1 Quarter
Net income after IPO and Reorganization IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $12.76M USD 1 Quarter
Net income after IPO and Reorganization IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $48.45M USD 1 Quarter
Balance at the end of the period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $227.31M USD Point-in-time
Balance at the end of the period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $416.36M USD Point-in-time
Balance at the end of the period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $362.33M USD Point-in-time
Balance at the end of the period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-36.22M USD Point-in-time
Comprehensive Income 11 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLossIncludingIncomeFromLimitedLiabilityCompany $48.45M USD 1 Quarter
Net income (loss) ProfitLossIncludingIncomeFromLimitedLiabilityCompany $26.41M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $239.00K USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $270.00K USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $26.65M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $48.72M USD 1 Quarter
Less: pre-IPO comprehensive income attributable to Cactus LLC ComprehensiveIncomeNetOfTaxAttributableToLimitedLiabilityCompany $13.93M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $21.79M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $8.98M USD 1 Quarter
Comprehensive income attributable to Cactus Inc. ComprehensiveIncomeNetOfTax $26.93M USD 1 Quarter
Comprehensive income attributable to Cactus Inc. ComprehensiveIncomeNetOfTax $3.74M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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