Cactus Inc. board reelected, plan amended at annual meeting

Cactus, Inc. (NYSE:WHD), a $2.94 billion market cap company specializing in oil and gas field machinery and equipment, announced the results of its Annual Meeting of Stockholders, which took place on May 13, 2025. The Houston-based company, which is incorporated in Delaware, reported the outcomes of the votes on several key proposals as outlined in its Proxy Statement. Trading at a P/E ratio of 15.03, InvestingPro analysis indicates the stock is currently trading near its Fair Value, with strong financial metrics including a healthy current ratio of 4.85.

In the meeting, three Class II director nominees were elected to the board to serve until the 2026 annual meeting of stockholders. Joel Bender received 73,911,994 votes for, 3,056,332 against, and 11,304 abstentions. Alan Semple had 72,115,706 votes for, 4,099,260 against, and 764,664 abstentions. Melissa Law garnered 76,686,396 votes for, 282,159 against, and 11,075 abstentions. Broker non-votes were 991,355 for each nominee.

Stockholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, with 77,648,618 votes for, 312,634 against, and 9,733 abstentions.

Additionally, the amendment of the Company’s Long-Term Incentive Plan was approved, increasing the number of shares reserved for issuance under the plan from 5,500,000 to 8,500,000. The vote count for this proposal was 62,785,736 for, 13,966,439 against, and 227,455 abstentions, with the same number of broker non-votes as the director elections.

The compensation of the Company’s named executive officers, as reported in the Proxy Statement, was approved on a non-binding, advisory basis. The vote resulted in 76,222,580 for, 732,781 against, and 24,269 abstentions, with broker non-votes also at 991,355.

Lastly, stockholders approved, on a non-binding, advisory basis, the frequency of holding advisory votes on the compensation of the Company’s named executive officers at an interval of every one year. The board of directors has determined to follow this recommendation and hold an advisory vote annually. The votes for a one-year frequency were 62,189,538, for two years 2,241, for three years 14,556,947, and abstentions 230,904, with broker non-votes at 991,355.

The filing also included an exhibit, specifically the Cover Page Interactive Data File, which is embedded within the Inline XBRL document.

This report is based on a press release statement and provides a summary of the most significant outcomes from the Annual Meeting of Cactus, Inc.

In other recent news, Cactus Inc . reported a strong performance for the first quarter of 2025, surpassing analyst expectations with an earnings per share (EPS) of $0.73 compared to the projected $0.67. The company’s revenue also exceeded forecasts, reaching $280.32 million against an anticipated $270.57 million. This positive earnings surprise indicates Cactus Inc.’s resilience in challenging market conditions. The company continues to expand its international market presence, with a strategic shift towards Vietnam manufacturing to mitigate tariff impacts. Additionally, Cactus Inc. is focused on international expansion, particularly in the Middle East, and expects to neutralize tariff impacts by mid-2026. Analyst discussions during the earnings call highlighted the company’s efforts to maintain strategic inventory levels despite customer requests to expedite purchases. The company has also announced a quarterly dividend of $0.13 per share, reflecting its commitment to returning value to shareholders. Looking ahead, Cactus Inc. anticipates a mixed performance in the second quarter, with expectations of a slight decline in Pressure Control revenue but an increase in Spoolable Technologies revenue.

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