Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings per Share

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

	Three Months Ended March 31,
	2024		2023
Numerator:
Net income attributable to Cactus Inc.—basic	$	38,965	$	42,894
Net income attributable to non-controlling interest (1)	8,241		7,312
Net income attributable to Cactus Inc.—diluted (1)	$	47,206	$	50,206
Denominator:
Weighted average Class A shares outstanding—basic	65,378		63,740
Effect of dilutive shares	14,178		15,415
Weighted average Class A shares outstanding—diluted	79,556		79,155
Earnings per Class A share—basic	$	0.60	$	0.67
Earnings per Class A share—diluted (1)	$	0.59	$	0.63

(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 26.0% for the three months ended March 31, 2024 and 24.5% for the three months ended March 31, 2023.