LandBridge Announces Second Quarter 2026 Results
Delivers record second quarter revenue of
Declares quarterly cash dividend of
Second Quarter 2026 Financial Highlights
-
Revenues of
$66.8 million 41% year-over-year and31% quarter-over-quarter -
Net income(1) of
$31.0 million 68% year-over-year and74% quarter-over-quarter -
Net income margin(1) of
46% -
Adjusted EBITDA(2) of
$59.8 million 41% year-over-year and33% quarter-over-quarter -
Adjusted EBITDA Margin(2) of
89% -
Cash flows from operating activities of
$41.4 million 11% year-over-year and1% quarter-over-quarter -
Free Cash Flow(2) of
$40.2 million 11% year-over-year -
Operating cash flow margin of
62% -
Free Cash Flow Margin(2) of
60% -
Announced quarterly cash dividend of
$0.12
Recent Milestones
-
LandBridge continues to see growing and accelerated momentum in the
West Texas digital infrastructure thesis and in particular our unique offering of strategic land and water resources, regional expertise, and extensive facilitating network. LandBridge is currently under LOI, option, or engaged in late-stage negotiations with seven power and digital infrastructure counterparties, representing more than 10 GW of power generation potential across our footprint. -
Entered into agreement to acquire approximately 560 acres of fee surface underlying the
Northern Delaware Basin Landfill inLea County, New Mexico , for total consideration of$20 million -
Announced that the Board has unanimously approved the Company’s conversion and redomicile from a
Delaware limited liability company to aTexas corporation following the recommendation of the previously announced special committee of independent directors of the Board
Jason Long, Chief Executive Officer of LandBridge, stated, “We are proud to announce another strong quarter of growth, reinforcing the strength and durability of our business model, along with the commercial firepower we continue to bring to bear across our footprint. We remain excited about the continued growth trajectory ahead of us, both from the oil and gas and produced water industry and from the longer-term digital infrastructure opportunity, where momentum is building quickly, as evidenced by our robust and growing list of non-binding commercial agreements and incremental interest across our acreage position."
Scott McNeely, Chief Financial Officer of LandBridge, said, “Our second quarter results underscore the durability of a high-margin, asset-light business model that continues to convert growth across multiple revenue streams into outsized free cash flow, a dynamic we expect to continue as the business grows in scale. Equally significant, our Board's approval to redomicile in
Second Quarter 2026 Consolidated Financial Information
Revenue for the second quarter of 2026 was
Adjusted EBITDA was
Net income margin was
Diversified Revenue Streams
Surface Use Royalties and Revenue: Generated revenues of
Resources Sales and Royalties: Generated revenues of
Oil and Gas Royalties: Generated revenues of
Free Cash Flow Generation
Cash flow from operations for the second quarter of 2026 was
Capital expenditures for the second quarter of 2026 were
Strong Balance Sheet with Ample Liquidity
Total liquidity was
As of June 30, 2026, the Company had approximately
Total cash and cash equivalents were
Subsequent to the quarter on August 4, 2026, DBR Land Holdings LLC, a subsidiary of the Company ("OpCo"), entered into an amendment (the "Amendment") to its 2025 revolving credit agreement (the "2025 Revolving Credit Facility"). Pursuant to the Amendment, lender commitments were increased by
In addition, the Amendment reduced the applicable margins under the 2025 Revolving Credit Facility by
Except as described above, the other material terms of the 2025 Revolving Credit Facility, including the Maturity Date, the commitment fee and the financial and other covenants, remained unchanged.
Recent Transactions
Subsequent to the second quarter on August 4, 2026, LandBridge agreed to acquire approximately 560 acres of fee surface underlying the
Second Quarter 2026 Dividend
The Board declared a dividend on our Class A shares of
2026 Outlook
The Company reaffirms its outlook for fiscal year 2026, with Adjusted EBITDA expected to be between
Reconciliations of forward-looking non-GAAP financial measures to comparable GAAP measures are not available due to the challenges and impracticability of estimating certain items, particularly non-recurring gains or losses, unusual or non-recurring items, income tax benefit or expense, or one-time transaction costs and cost of revenue. We are unable to reasonably predict these because they are uncertain and depend on various factors not yet known, which could have a material impact on GAAP results for the guidance period. Because of those challenges, a reconciliation of forward-looking non-GAAP financial measures is not available without unreasonable effort.
| (1) Q2 2026 net income and net income margin include a non-cash expense of |
| (2) Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow and Free Cash Flow Margin are non-GAAP financial measures. See “Comparison of Non-GAAP Financial Measures” included within the Appendix of this press release for related disclosures and reconciliations to the most directly comparable financial measures calculated and presented in accordance with GAAP. |
Quarterly Report on Form 10-Q
Our financial statements and related footnotes are available in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, which is expected to be filed with the
Conference Call and Webcast Information
The Company will hold a conference call on Thursday, August 6, 2026, at 10:00 a.m. Central Time to discuss second quarter results. A live webcast of the conference call will be available on the Events and Presentations section of the LandBridge Investor Relations website. To listen to the live broadcast, go to the site at least 10-15 minutes prior to the scheduled start time to register and install any necessary audio software.
To access the live conference call, participants must pre-register online at https://events.q4inc.com/analyst/893270445?pwd=4vCD3ryz to receive unique dial-in information. Pre-registration may be completed at any time up to the call start time.
About LandBridge
LandBridge owns more than 325,000 surface acres across Texas and New Mexico, located primarily in the heart of the Delaware sub-region in the Permian Basin, the most active region for oil and gas exploration and development in the United States. LandBridge actively manages its land and resources to support and encourage energy and infrastructure development and other land uses, including digital infrastructure. LandBridge was formed by Five Point Infrastructure LLC, a private equity firm with a track record of investing in and developing energy, environmental water management and sustainable infrastructure companies within the Permian Basin. For more information, please visit: www.landbridgeco.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements that are based on LandBridge’s beliefs, as well as assumptions made by, and information currently available to, LandBridge, and therefore involve risks and uncertainties that are difficult to predict. Generally, future or conditional verbs such as “will,” “would,” “should,” or “could,” and the words “believe,” “anticipate,” “continue,” “intend,” “expect” and similar expressions identify forward-looking statements. Forward-looking statements include, but are not limited to, strategies, plans, objectives, expectations, intentions, assumptions, future operations and prospects and other statements that are not historical facts, including our estimated future financial performance. You should not place undue reliance on forward-looking statements. Although LandBridge believes that plans, intentions and expectations reflected in or suggested by any forward-looking statements made herein are reasonable, LandBridge may be unable to achieve such plans, intentions or expectations and actual results, and performance or achievements may vary materially and adversely from those envisaged in this news release due to a number of factors including, but not limited to: our customers’ demand for and use of our land and resources; the success of WaterBridge in executing its business strategies, including its ability to construct and operate water infrastructure assets, attract customers and operate successfully on our land; our customers’ ability to develop our land or potential changes to our customers' development plans, or any potential acquired acreage to accommodate any future surface use developments, such as data centers or other digital infrastructure; our ability to continue the payment of dividends; the domestic and foreign supply of, and demand for, energy sources, including the impact of political instability or armed conflict in oil and natural gas producing regions, including increased hostilities in the Middle East, including Iran, and other sustained military campaigns, the Russia-Ukraine war, as well as the conditions in South America, Central America, China and Russia and acts of terrorism or sabotage, actions relating to oil price and production controls by the members of the Organization of Petroleum Exporting Countries, Russia and other allied producing countries with respect to oil production levels and announcements of potential changes to such levels; our reliance on a limited number of customers and on a particular region for substantially all of our revenues, including the potential consolidation of such customers within such region and the degree to which such consolidation may affect spending on U.S. drilling and completions in the near term; our ability to enter into favorable contracts regarding surface uses, access agreements and fee arrangements, including the prices we are able to charge and the margins we are able to realize; our business strategies and our ability to execute thereon, including our ability to attract non-traditional energy customers to use our land and resources and to successfully implement our growth plans and manage any resultant growth; our ability to successfully implement our growth plans, including through future acquisitions of acreage and/or the introduction of new revenue streams, the costs associated with such acquisitions and revenue streams, and the risk that we may not be able to integrate and/or realize the anticipated benefits therefrom; our level of indebtedness and our ability to service our indebtedness; and any changes in general economic, business and/or industry conditions and market volatility, including as a result of slowing growth, a potential economic recession, an elevated inflation rate, high interest rates, changes in U.S. and international trade policies and relations, and central bank policy, as well as associated liquidity risks. These risks, as well as other risks associated with LandBridge are also more fully discussed in LandBridge's filings with the SEC, including its most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. You can access LandBridge’s filings with the SEC through the SEC's website at http://www.sec.gov. Except as required by applicable law, LandBridge undertakes no obligation to update any forward-looking statements or other statements herein for revisions or changes after this communication is made.
The historical financial information presented below reflects only our historical financial results and the historical financial results of our predecessor, DBR Land Holdings LLC, as applicable.
SECOND QUARTER 2026 RESULTS
CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands) (unaudited) |
||||||||||||||||
|
|
Three Months Ended
|
|
|
Six Months Ended
|
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Surface use royalties |
|
$ |
12,527 |
|
|
$ |
9,019 |
|
|
$ |
23,718 |
|
|
$ |
19,540 |
|
Surface use royalties - related party |
|
|
13,039 |
|
|
|
7,676 |
|
|
|
24,080 |
|
|
|
14,591 |
|
Easements and other surface-related revenues |
|
|
19,948 |
|
|
|
14,271 |
|
|
|
31,548 |
|
|
|
20,711 |
|
Easements and other surface-related revenues - related party |
|
|
6,655 |
|
|
|
3,248 |
|
|
|
9,818 |
|
|
|
5,581 |
|
Resource sales |
|
|
5,622 |
|
|
|
5,456 |
|
|
|
10,847 |
|
|
|
12,622 |
|
Resource sales - related party |
|
|
659 |
|
|
|
181 |
|
|
|
864 |
|
|
|
367 |
|
Resource royalties |
|
|
4,119 |
|
|
|
3,841 |
|
|
|
8,388 |
|
|
|
7,999 |
|
Resource royalties - related party |
|
|
697 |
|
|
|
1,107 |
|
|
|
1,971 |
|
|
|
3,953 |
|
Oil and gas royalties |
|
|
3,574 |
|
|
|
2,734 |
|
|
|
6,546 |
|
|
|
6,120 |
|
Other |
|
|
- |
|
|
|
- |
|
|
|
65 |
|
|
|
- |
|
Total revenues |
|
|
66,840 |
|
|
|
47,533 |
|
|
|
117,845 |
|
|
|
91,484 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Resource sales-related expense |
|
|
1,133 |
|
|
|
489 |
|
|
|
1,530 |
|
|
|
947 |
|
Other operating and maintenance expense |
|
|
1,328 |
|
|
|
1,065 |
|
|
|
2,597 |
|
|
|
2,189 |
|
General and administrative expense |
|
|
15,900 |
|
|
|
14,800 |
|
|
|
31,626 |
|
|
|
29,492 |
|
Depreciation, depletion and amortization |
|
|
4,374 |
|
|
|
2,545 |
|
|
|
8,799 |
|
|
|
5,146 |
|
Other operating (income) expense, net |
|
|
(53 |
) |
|
|
132 |
|
|
|
(43 |
) |
|
|
171 |
|
Operating income |
|
|
44,158 |
|
|
|
28,502 |
|
|
|
73,336 |
|
|
|
53,539 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest expense, net |
|
|
9,190 |
|
|
|
7,879 |
|
|
|
18,701 |
|
|
|
15,856 |
|
Other expense, net |
|
|
17 |
|
|
|
- |
|
|
|
27 |
|
|
|
- |
|
Income before income taxes |
|
|
34,951 |
|
|
|
20,623 |
|
|
|
54,608 |
|
|
|
37,683 |
|
Income tax expense |
|
|
3,902 |
|
|
|
2,148 |
|
|
|
5,691 |
|
|
|
3,749 |
|
Net income |
|
|
31,049 |
|
|
|
18,475 |
|
|
|
48,917 |
|
|
|
33,934 |
|
Net income attributable to noncontrolling interest |
|
|
18,762 |
|
|
|
10,973 |
|
|
|
27,915 |
|
|
|
19,968 |
|
Net income attributable to LandBridge Company LLC |
|
$ |
12,287 |
|
|
$ |
7,502 |
|
|
$ |
21,002 |
|
|
$ |
13,966 |
|
CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) |
||||||||
|
|
June 30, |
|
|
December 31, |
|
||
|
|
2026 |
|
|
2025 |
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
39,797 |
|
|
$ |
30,741 |
|
Accounts receivable, net |
|
|
17,618 |
|
|
|
19,363 |
|
Related party accounts receivable |
|
|
9,878 |
|
|
|
4,945 |
|
Prepaid expenses and other current assets |
|
|
3,487 |
|
|
|
4,766 |
|
Total current assets |
|
|
70,780 |
|
|
|
59,815 |
|
|
|
|
|
|
|
|
||
Non-current assets: |
|
|
|
|
|
|
||
Property, plant and equipment, net |
|
|
1,092,750 |
|
|
|
1,084,450 |
|
Intangible assets, net |
|
|
131,444 |
|
|
|
136,962 |
|
Deferred tax assets |
|
|
79,059 |
|
|
|
80,973 |
|
Other assets |
|
|
3,233 |
|
|
|
3,856 |
|
Total non-current assets |
|
|
1,306,486 |
|
|
|
1,306,241 |
|
Total assets |
|
$ |
1,377,266 |
|
|
$ |
1,366,056 |
|
|
|
|
|
|
|
|
||
Liabilities and equity |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Accounts payable |
|
$ |
742 |
|
|
$ |
562 |
|
Taxes payable |
|
|
966 |
|
|
|
1,200 |
|
Related party accounts payable |
|
|
1,062 |
|
|
|
781 |
|
Accrued liabilities |
|
|
5,946 |
|
|
|
7,781 |
|
Current portion of long-term debt |
|
|
194 |
|
|
|
692 |
|
Contract liabilities |
|
|
818 |
|
|
|
1,263 |
|
Other current liabilities |
|
|
7 |
|
|
|
7 |
|
Total current liabilities |
|
|
9,735 |
|
|
|
12,286 |
|
|
|
|
|
|
|
|
||
Non-current liabilities: |
|
|
|
|
|
|
||
Long-term debt, net of debt issuance costs |
|
|
535,529 |
|
|
|
559,593 |
|
Other long-term liabilities |
|
|
195 |
|
|
|
192 |
|
Total non-current liabilities |
|
|
535,724 |
|
|
|
559,785 |
|
Total liabilities |
|
|
545,459 |
|
|
|
572,071 |
|
|
|
|
|
|
|
|
||
Commitments and contingencies |
|
|
|
|
|
|
||
|
|
|
|
|
|
|
||
Class A shares, unlimited shares authorized and 28,233,217 shares issued and outstanding as of June 30, 2026. Unlimited shares authorized and 27,838,199 shares issued and outstanding as of December 31, 2025. |
|
|
318,073 |
|
|
|
317,069 |
|
Class B shares, unlimited shares authorized and 48,680,928 shares issued and outstanding as of June 30, 2026. Unlimited shares authorized and 49,250,916 shares issued and outstanding as of December 31, 2025. |
|
|
- |
|
|
|
- |
|
Retained earnings |
|
|
37,459 |
|
|
|
23,233 |
|
Total shareholders’ equity attributable to LandBridge Company LLC |
|
|
355,532 |
|
|
|
340,302 |
|
Noncontrolling interest |
|
|
476,275 |
|
|
|
453,683 |
|
Total shareholders’ equity |
|
|
831,807 |
|
|
|
793,985 |
|
Total liabilities and equity |
|
$ |
1,377,266 |
|
|
$ |
1,366,056 |
|
CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) |
||||||||
|
|
Six Months Ended June 30, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Cash flows from operating activities |
|
|
|
|
|
|
||
Net income |
|
$ |
48,917 |
|
|
$ |
33,934 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
||
Depreciation, depletion and amortization |
|
|
8,799 |
|
|
|
5,146 |
|
Amortization of debt issuance costs |
|
|
1,138 |
|
|
|
1,079 |
|
Share-based compensation |
|
|
22,504 |
|
|
|
22,411 |
|
Deferred income tax expense |
|
|
1,645 |
|
|
|
991 |
|
Other |
|
|
(67 |
) |
|
|
6 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
||
Accounts receivable |
|
|
1,695 |
|
|
|
(5,342 |
) |
Related party accounts receivable |
|
|
(4,933 |
) |
|
|
(591 |
) |
Prepaid expenses and other assets |
|
|
997 |
|
|
|
(1,778 |
) |
Accounts payable |
|
|
151 |
|
|
|
(42 |
) |
Related party accounts payable |
|
|
280 |
|
|
|
96 |
|
Taxes payable |
|
|
2,175 |
|
|
|
(1,831 |
) |
Accrued and other liabilities |
|
|
(810 |
) |
|
|
(834 |
) |
Net cash provided by operating activities |
|
|
82,491 |
|
|
|
53,245 |
|
|
|
|
|
|
|
|
||
Cash flows from investing activities |
|
|
|
|
|
|
||
Acquisitions |
|
|
(12,166 |
) |
|
|
(18,762 |
) |
Capital expenditures |
|
|
(1,311 |
) |
|
|
(1,309 |
) |
Proceeds from disposal of assets |
|
|
55 |
|
|
|
125 |
|
Net cash used in investing activities |
|
|
(13,422 |
) |
|
|
(19,946 |
) |
|
|
|
|
|
|
|
||
Cash flows from financing activities |
|
|
|
|
|
|
||
Proceeds from debt |
|
|
- |
|
|
|
10,000 |
|
Repayments of debt |
|
|
(25,483 |
) |
|
|
(21,046 |
) |
Dividends, dividend equivalents and distributions paid |
|
|
(33,322 |
) |
|
|
(37,923 |
) |
Debt issuance costs |
|
|
(1,201 |
) |
|
|
(40 |
) |
Offering costs |
|
|
- |
|
|
|
(977 |
) |
Other |
|
|
(7 |
) |
|
|
- |
|
Net cash used in financing activities |
|
|
(60,013 |
) |
|
|
(49,986 |
) |
Net increase (decrease) in cash and cash equivalents |
|
|
9,056 |
|
|
|
(16,687 |
) |
Cash and cash equivalents - beginning of period |
|
|
30,741 |
|
|
|
37,032 |
|
Cash and cash equivalents - end of period |
|
$ |
39,797 |
|
|
$ |
20,345 |
|
Comparison of Non-GAAP Financial Measures
Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow and Free Cash Flow Margin are supplemental non-GAAP measures that we use to evaluate current, past and expected future performance. Although these non-GAAP financial measures are important factors in assessing our operating results and cash flows, they should not be considered in isolation or as a substitute for net income, gross margin or any other measures presented under GAAP.
Adjusted EBITDA and Adjusted EBITDA Margin are used to assess the financial performance of our assets over the long term to generate sufficient cash to return capital to equity holders or service indebtedness. We define Adjusted EBITDA as net income (loss) before interest; taxes; depreciation, amortization, depletion and accretion; share-based compensation; non-recurring transaction-related expenses and other non-cash or non-recurring expenses. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by total revenues.
We believe Adjusted EBITDA and Adjusted EBITDA Margin are useful because they allow us to more effectively evaluate our operating performance and compare the results of our operations from period to period, and against our peers, without regard to our financing methods or capital structure. We exclude the items listed above from net income (loss) in arriving at Adjusted EBITDA and Adjusted EBITDA Margin because these amounts can vary substantially from company to company within our industry depending upon accounting methods, book values of assets, capital structures and the method by which the assets were acquired.
The following table sets forth a reconciliation of net income as determined in accordance with GAAP to Adjusted EBITDA and Adjusted EBITDA Margin for the periods indicated.
|
|
Three Months Ended |
|
|||||||||
|
|
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||
|
|
(In thousands) |
|
|||||||||
Net income |
|
$ |
31,049 |
|
|
$ |
17,868 |
|
|
$ |
18,475 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|||
Depreciation, depletion and amortization |
|
|
4,374 |
|
|
|
4,425 |
|
|
|
2,545 |
|
Interest expense, net |
|
|
9,190 |
|
|
|
9,511 |
|
|
|
7,879 |
|
Income tax expense |
|
|
3,902 |
|
|
|
1,789 |
|
|
|
2,148 |
|
EBITDA |
|
|
48,515 |
|
|
|
33,593 |
|
|
|
31,047 |
|
Adjustments: |
|
|
|
|
|
|
|
|
- |
|
||
Share-based compensation - LBH Management Units |
|
|
8,964 |
|
|
|
9,002 |
|
|
|
9,044 |
|
Share-based compensation - RSUs |
|
|
2,276 |
|
|
|
2,262 |
|
|
|
2,227 |
|
Transaction-related expenses |
|
|
- |
|
|
|
- |
|
|
|
135 |
|
Adjusted EBITDA |
|
$ |
59,755 |
|
|
$ |
44,857 |
|
|
$ |
42,453 |
|
Net income margin |
|
|
46 |
% |
|
|
35 |
% |
|
|
39 |
% |
Adjusted EBITDA Margin |
|
|
89 |
% |
|
|
88 |
% |
|
|
89 |
% |
Free Cash Flow and Free Cash Flow Margin are used to assess our ability to repay our indebtedness, return capital to our shareholders and fund potential acquisitions without access to external sources of financing for such purposes. We define Free Cash Flow as cash flow from operating activities less investment in capital expenditures. We define Free Cash Flow Margin as Free Cash Flow divided by total revenues.
We believe Free Cash Flow and Free Cash Flow Margin are useful because they allow for an effective evaluation of both our operating and financial performance, as well as the capital intensity of our business, and subsequently the ability of our operations to generate cash flow that is available to distribute to our shareholders, reduce leverage or support acquisition activities.
The following table sets forth a reconciliation of cash flows from operating activities determined in accordance with GAAP to Free Cash Flow and Free Cash Flow Margin, respectively, for the periods indicated.
|
|
Three Months Ended |
|
|||||||||
|
|
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||
|
|
(In thousands) |
|
|||||||||
Net cash provided by operating activities |
|
$ |
41,371 |
|
|
$ |
41,120 |
|
|
$ |
37,332 |
|
Net cash used in investing activities |
|
|
(11,274 |
) |
|
|
(2,148 |
) |
|
|
(2,079 |
) |
Cash used in operating and investing activities |
|
|
30,097 |
|
|
|
38,972 |
|
|
|
35,253 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|||
Acquisitions |
|
|
10,171 |
|
|
|
1,995 |
|
|
|
944 |
|
Proceeds from disposal of assets |
|
|
(28 |
) |
|
|
(27 |
) |
|
|
(105 |
) |
Free Cash Flow |
|
$ |
40,240 |
|
|
$ |
40,940 |
|
|
$ |
36,092 |
|
Operating cash flow margin (1) |
|
|
62 |
% |
|
|
81 |
% |
|
|
79 |
% |
Free Cash Flow Margin |
|
|
60 |
% |
|
|
80 |
% |
|
|
76 |
% |
(1) |
Operating cash flow margin is calculated by dividing net cash provided by operating activities by total revenue. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260805637776/en/
LandBridge
Scott McNeely
Chief Financial Officer
Contact@LandBridgeCo.com
Mae Herrington
Director, Investor Relations
ir@LandBridgeCo.com
Media
Daniel Yunger / Nathaniel Shahan
Kekst CNC
daniel.yunger@kekstcnc.com / nathaniel.shahan@kekstcnc.com
Source: LandBridge Company LLC