LandBridge Company LLC(US:LB)2025-11-19 13:19Financial Performance - Revenue for Q3 2025 was $50.8 million, representing a 78% increase year-over-year and a 7% increase quarter-over-quarter[5]. - Net income for Q3 2025 was $20.3 million, with a net income margin of 40%[5][10]. - Adjusted EBITDA for Q3 2025 was $44.9 million, up 79% year-over-year and 6% quarter-over-quarter, with an adjusted EBITDA margin of 88%[5][10]. - Total revenues for Q3 2025 reached $50,831,000, a 78.5% increase from $28,487,000 in Q3 2024[29]. - Net income for Q3 2025 was $20,291,000, compared to a net loss of $2,756,000 in Q3 2024, marking a significant turnaround[29]. - Adjusted EBITDA for Q3 2025 was $44,850,000, with an Adjusted EBITDA Margin of 88%[36]. - Cash flows from operating activities for the nine months ended September 30, 2025, were $88,157,000, up from $40,708,000 in the same period of 2024[31]. - Year-over-year comparison shows significant improvement in free cash flow from $7,147,000 in Q3 2024 to $33,725,000 in Q3 2025[42]. Cash Flow and Liquidity - Cash flow from operating activities was $34.9 million, with free cash flow of $33.7 million for Q3 2025[13]. - Total liquidity was $108.3 million as of September 30, 2025, with $80.0 million available under the revolving credit facility[15]. - Cash and cash equivalents at the end of Q3 2025 were $28,316,000, down from $37,032,000 at the beginning of the period[31]. - Net cash provided by operating activities for Q3 2025 was $34,912,000, a decrease from $37,332,000 in Q2 2025[42]. - Free Cash Flow for Q3 2025 was $33,725,000, compared to $36,092,000 in Q2 2025[42]. - Operating cash flow margin for Q3 2025 was 69%, down from 79% in Q2 2025[42]. - Free Cash Flow Margin for Q3 2025 was 66%, a decrease from 76% in Q2 2025[42]. Acquisitions and Investments - The company acquired approximately 37,500 acres, increasing total holdings to over 300,000 surface acres, aimed at diversifying revenue streams[8]. - Acquisitions in Q3 2025 amounted to $5,000, while proceeds from the disposal of assets were $(85,000)[42]. - Net cash used in investing activities for Q3 2025 was $(1,107,000), compared to $(2,079,000) in Q2 2025[42]. Dividends and Outlook - The company declared a quarterly cash dividend of $0.10 per share, payable on December 18, 2025[17]. - The company reaffirms its fiscal year 2025 outlook, expecting adjusted EBITDA between $165 million and $175 million[18]. Asset and Debt Management - Total current assets increased to $57,370,000 as of September 30, 2025, compared to $53,315,000 at the end of 2024[30]. - Long-term debt decreased to $366,081,000 as of September 30, 2025, from $380,815,000 at the end of 2024[30]. - The company’s total assets increased to $1,077,920,000 as of September 30, 2025, compared to $1,032,479,000 at the end of 2024[30]. Revenue Streams - Surface use royalties and revenue generated $35.0 million in Q3 2025, a 2% increase sequentially[10]. - Oil and gas royalties generated $3.3 million in Q3 2025, a 22% sequential increase due to higher net royalty production[12]. - The company reported a significant increase in surface use royalties, totaling $8,235,000 in Q3 2025, compared to $4,227,000 in Q3 2024[29]. - Resource sales for the nine months ended September 30, 2025, amounted to $17,122,000, up from $11,908,000 in the same period of 2024[29]. Overall Financial Health - The company continues to focus on maintaining a strong cash flow despite fluctuations in operating activities[42]. - The overall financial health indicates a robust operational strategy, with a focus on cash generation and prudent investment[42].