Cactus Anticipates Q1'2024 US Land Activity Levels To Be Approximately Flat Q/Q
Portfolio Pulse from Benzinga Newsdesk
Cactus projects Q1'2024 US land activity levels to remain roughly the same as the previous quarter. In its Pressure Control segment, a slight revenue decline is expected due to lower production equipment sales compared to the rig count in Q4. However, in Spoolable Technologies, a modest revenue increase is anticipated due to rising customer demand.
February 28, 2024 | 10:33 pm
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Cactus expects flat US land activity levels in Q1'2024, with a slight revenue decline in Pressure Control but a modest increase in Spoolable Technologies due to higher demand.
The flat overall US land activity level projection suggests a stable but unexciting growth outlook for Cactus, balancing out the expected slight decline in Pressure Control revenues with a modest increase in Spoolable Technologies revenues. This mixed outlook reflects a cautious optimism but also indicates potential challenges in the Pressure Control segment.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90