Loading...
•
Sep 30, 2024
LandBridge Company LLC Q3 2024 Earnings Report
Announced third quarter results with revenue growth and declared initial quarterly cash dividend.
Key Takeaways
LandBridge Company LLC reported a strong third quarter in 2024, marked by a 60% year-over-year increase in revenue, reaching $28.5 million. The company also declared an initial quarterly cash dividend of $0.10 per share and initiated its FY24 and FY25 outlook. Adjusted EBITDA stood at $25.0 million, up 62% year-over-year, with a margin of 88%.
Revenues increased to $28.5 million, a 60% increase year-over-year.
Adjusted EBITDA reached $25.0 million, a 62% increase year-over-year, with an 88% margin.
The company acquired 1,280 surface acres in Winkler County, Texas, and signed a purchase agreement for an additional 5,800 acres in Lea County, New Mexico.
An initial cash dividend of $0.10 per share was announced.
Revenue by Segment
Forward Guidance
The Company initiated its outlook for full-year 2024 and full-year 2025, expecting Adjusted EBITDA to be between $95 million and $100 million for 2024, and between $140 million and $160 million for 2025.
Positive Outlook
- Higher than expected surface use royalties and revenues subsequent to increased development and higher than anticipated produced water volumes on our surface
- Addition of a lease development agreement payment for the development of a data center on approximately 2,000 acres of our land in the southern Delaware Basin
- Incremental contribution of our recent acquisitions
- Initial solar facility contributions to surface use revenues
- Growth of our surface use royalties through higher produced water volumes on our surface
Challenges Ahead
- Deferral of marketing a 250MW solar project into 2025 to better align with the execution of the lease development agreement in connection with the data center
- Lower than anticipated resource sales and royalties
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...