Welcome to our dedicated page for Landbridge news (Ticker: LB), a resource for investors and traders seeking the latest updates and insights on Landbridge stock.
LandBridge Company LLC manages surface acreage and related resources in Texas and New Mexico, primarily in the Delaware sub-region of the Permian Basin. Its news centers on financial results, surface-use royalties and revenues, resource sales and royalties, oil and gas royalties, and commercial activity tied to energy, power, digital infrastructure and other land uses.
Company updates also cover acreage additions, bolt-on transactions, balance-sheet actions, investor presentations, and projects that use LandBridge land for produced-water handling, power generation or data-center infrastructure. The company was formed by Five Point Infrastructure LLC and trades Class A shares representing limited liability company interests under LB.
L Brands announced a private placement of $750 million in 6.875% senior secured notes and $500 million in 9.375% senior unsecured notes, both due in 2025. The offerings are set to close on June 18, 2020. The secured notes are backed by substantially all assets excluding certain inventory and receivables. Net proceeds will be used to redeem outstanding 2021 notes, fund $200 million in retirement obligations, and for general corporate purposes. The offering is not registered under the Securities Act and is intended for eligible purchasers only.
L Brands (NYSE: LB) has announced a private placement offering of $750 million in senior secured notes and $500 million in senior unsecured notes, both maturing in 2025. The offering is subject to market conditions and will be secured by the company's assets, excluding certain inventory and receivables. Proceeds from the offering will be used to repurchase outstanding 2021 notes, fund $200 million in retirement plan obligations, and for general corporate purposes. These notes will not be registered under the Securities Act and will be sold only to eligible purchasers.
L Brands reported first quarter results for FY2020, revealing a net loss of $296.9 million, or $1.07 per share, compared to a profit of $40.3 million or $0.14 per share last year. Net sales fell to $1.654 billion, down from $2.629 billion due to store closures amid the COVID-19 pandemic. Bath & Body Works saw sales of $712.7 million, down from $870.7 million, but direct sales soared 85% to $288.9 million. The company has outlined plans for Bath & Body Works to operate as a standalone entity while preparing Victoria's Secret for separation. No guidance was provided for Q2 or full-year earnings.
L Brands (NYSE: LB) will announce its first quarter 2020 earnings on May 20 after market close. A live conference call will be held on May 21 at 9:00 a.m. ET, where executives will discuss the results. Interested parties can access the call via the company's website or by phone. L Brands operates 2,920 specialty stores globally through brands like Victoria’s Secret and Bath & Body Works. The results could provide insights into the company’s performance amid current market conditions.
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