Investor Presentation Cactus, Inc. (NYSE: WHD) May 2020
Executive Team Mr. Bender has served as President and CEO since co-founding Cactus Wellhead, LLC (Cactus LLC) in 2011. Mr. Bender previously was President of Wood Group Pressure Control from 2000 to 2011. Scott Bender Mr. Bender…
Investment Highlights A Leading Pure Play Wellhead and Pressure Control 1 Equipment Solutions Provider for Onshore Markets Innovative and Differentiated Products & Services 2 That Drive Margin Stability Through the Cycle Dynamic…
Company Overview Cactus designs, manufactures, sells and rents highly engineered products which yield greater pad drilling and completions efficiencies while enhancing safety Q1 2020 LTM Revenue by Type Revenue ( in millions) 628.4…
Proprietary Equipment Across Drilling, Completion, and Production Phases of a Well Technologically advanced wellhead and frac solutions deliver greater reliability and time savings Designed for pad drilling and intense completion…
Cactus is Built to Weather a Downturn Well Prepared for a Downturn Strategy Confirmed in 2016 Management team that has operated through several Reported Adj. EBITDA(2) margins of 21% industry cycles Generated positive free cash flow…
Historical Margin Stability & Defensive Balance Sheet Trough Annual Adjusted EBITDA Margin (1)(2)(3) Net Cash / (Debt) Position as of 3/31/2020 (4) 22% 21% Net Cash Position (Net Debt) Position 16% 343 6% 6% 220 5% 4% 123…
Technologically Advanced Pad Drilling Wellhead Systems Cactus SafeDrill SafeDrill Advantages Safety Time Savings Fewer trips into Eliminates time confined space (cellar) consuming BOP - manipulation No BOP manipulation No waiting…
Innovations Enhance Rental Business Value Proposition Complement & enhance legacy rental offerings while requiring no additional personnel Designed to significantly reduce non-productive time (NPT) by increasing reliability and…
Improvements in Operator Efficiencies Beneficial to Cactus U.S. Drilling Days Per 1,000 Lateral Ft. U.S. Well Completions Utilizing Zipper Fracs Days Pct 7 6.4 90% 5.9 6 5.2 5 79% 80% 4.4 76% 4 3.6 3.5 3.3 3.3 70% 69% 2.9…
Small Expenditures Can Have a Big Impact on Operators Cactus Value Proposition Components of Onshore Well Costs(1) Cactus offerings make up a Other relatively small portion of the 15% overall cost to drill & complete a well…
Flexible and Scalable Operating Footprint U.S. Operations United States Service centers support field services and provide repair services Bakken Bossier City, Louisiana Powder Manufacturing Facility Well-diversified across all key…
A Dynamic Manufacturing Advantage; Responsive, Highly Scalable and Lower Cost Responsive manufacturing in the U.S. supplemented by high volume production in China Bossier City Facility Suzhou Facility Rapid-response manufacturing of…
Experienced and Well Aligned Management Team with Strong Industry Relationships Management team is well incentivized as it owns more than 25% of the business 2020 executive management salaries reduced by 33 - 55% Performance share…
Well Established Relationships with High-Quality Customer Base 2019 Total Revenue by Customer Type 2019 Product Revenue by Customer Type 2019 Rental Revenue by Customer Type Other Majors Other Majors 1% 1% Private 9% 2% Private…
History of Prudent Investment Strategy Goodwill, Intangible, Long-Lived & Other Asset Impairment Expenses (mm) (2015 2020) (mm) 10,597 1,000 750 689 610 500 312 250 179 122 49 29 0 - WHD Peer A Peer B…
Clean Balance Sheet & Low Capital Intensity Adjusted EBITDA(1) Net Capital Expenditures(2) ( in Balance Sheet & Capital Summary millions) March 31, 2020 cash balance of 230.2 million 173.1 173.7 Full availability of 75.0 million…
Recent Performance & Outlook First Quarter 2020 Performance Product revenue continued to outperform the trajectory of the U.S. onshore rig count Innovations represented over 20% of Rental revenue Increased cash position by…
Positive Developments with Limited Capital Required Product Potential for share gains given strong customer profile and operator search for efficiency gains Downturns typically drive increased rig efficiency as operators drop least…
Cactus Is Committed to ESG Environmental Social Cactus, Inc. is committed to reducing its impact on the Cactus, Inc. is dedicated to improving lives and protecting human environment. We will continue to strive to improve our rights.…
Appendix
Company Organizational Structure Company Profile Organizational Structure (1) Ticker WHD (NYSE) Class A Shares Outstanding (1) 47.4mm CW Unit Public Class B Shares Outstanding (1) 28.0mm Holders Investors Total Shares Outstanding…
Cactus Equipment Positioned on a 4-Well Pad 1 2 4 4 3 4 1 1 Product Sold 2 Equipment Rented 3 Equipment Rented 4 Services Provided Product Sold Wellheads are required Frac stacks are Zipper manifolds used Variety…
Non-GAAP Reconciliation Year Ended Three Months Ended ( in thousands) December 31, December 31, December 31, December 31, December 31, March 31, March 31, 2019 2018 2017 2016 2015 2020 2019 Net income (loss) 156,303 150,281 66,547…
Investor Relations Contact John Fitzgerald Director of Corporate Development & Investor Relations 713-904-4655 IRCactusWHD.com 28
Loading...
