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LandBridge Company LLC Q4 2024 Earnings Report
LandBridge Company LLC announced its financial and operating results for the fourth quarter and fiscal year ended December 31, 2024.
Key Takeaways
LandBridge Company LLC reported a strong fourth quarter in 2024, with revenues increasing by 109% year-over-year to $36.5 million and Adjusted EBITDA up 108% to $31.7 million. The company also reaffirmed its FY25 EBITDA outlook of $170 million to $190 million.
Fourth quarter 2024 revenues increased by 109% year-over-year, reaching $36.5 million.
Adjusted EBITDA for Q4 2024 was $31.7 million, a 108% increase year-over-year.
The company reaffirmed its FY25 Adjusted EBITDA outlook, projecting $170 million to $190 million.
LandBridge completed acquisitions adding approximately 53,000 acres, increasing total surface land holdings to approximately 276,000 acres.
LandBridge Company LLC
LandBridge Company LLC
LandBridge Company LLC Revenue by Segment
Revenue by Segment
Surface use royalties Revenue
CapyFin.comSurface use royalties - Related party Revenue
CapyFin.comEasements and other surface-related revenues Revenue
CapyFin.comEasements and other surface-related revenues - Related party Revenue
CapyFin.comResource sales Revenue
CapyFin.comResource sales - Related party Revenue
CapyFin.comResource royalties Revenue
CapyFin.comResource royalties - Related party Revenue
CapyFin.comOil and gas royalties Revenue
CapyFin.com Forward Guidance
For fiscal year 2025, LandBridge Company LLC expects Adjusted EBITDA to be between $170 million and $190 million.
Positive Outlook
- Incremental contribution from recent acquisitions.
- Initial solar facility contributions to surface use revenues.
- Growth of surface use royalties through higher produced water volumes on surface.
- Updates to resources sales and royalties based on current timing and volume expectations.
- Updates to anticipated commodity pricing based on current regional pricing dynamics.
Challenges Ahead
- Challenges and impracticability of estimating certain non-recurring gains or losses.
- Unusual or non-recurring items may impact GAAP results.
- Income tax benefit or expense is uncertain.
- One-time transaction costs are difficult to predict.
- Cost of revenue is subject to various unknown factors.