Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Basic and Diluted Earnings per Share

The following table summarizes the basic and diluted earnings per share calculations:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Numerator:
Net income attributable to Cactus Inc.—basic	$	40,329	$	49,828	$	84,552	$	88,793
Net income attributable to non-controlling interest (1)	—		—		—		18,432
Net income attributable to Cactus Inc.—diluted (1)	$	40,329	$	49,828	$	84,552	$	107,225
Denominator:
Weighted average Class A shares outstanding—basic	68,514		66,142		68,355		65,760
Effect of dilutive shares (2)	375		437		405		13,926
Weighted average Class A shares outstanding—diluted (2)	68,889		66,579		68,760		79,686

Earnings per Class A share—basic	$	0.59	$	0.75	$	1.24	$	1.35
Earnings per Class A share—diluted (1)(2)	$	0.59	$	0.75	$	1.23	$	1.35

(1)The numerator is adjusted in the calculation of diluted earnings per share under the if-converted method to include net income attributable to the non-controlling interest calculated as its pre-tax income adjusted for a corporate effective tax rate of 26% for the six months ended June 30, 2024.

(2)Diluted earnings per share for the three and six months ended June 30, 2025 and for the three months ended June 30, 2024 excludes 11.3 million, 11.4 million and 13.4 million weighted average shares of Class B common stock, respectively, as the effect would be anti-dilutive.