| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 50.83 | 6.9% | 78.4% |
| Total Income | 50.83 | 6.9% | 78.4% |
| Expenditure | 19.95 | 4.8% | 21.1% |
| PBT | 23.00 | 11.5% | 692.8% |
| Net Profit | 8.11 | 8.1% | 204.9% |
| OPM | 60.76% | 0.80pp | 49.57pp |
| NPM | 15.95% | 0.17pp | 6.63pp |
| EPS | 0.31 | 3.3% | 106.7% |
LandBridge Company LLC Announces Q3 2025 Results: Revenue Up 78% Y-o-Y
04 May 2026 · 4 May, 7:20 am
Summary
LandBridge Company LLC announced its financial results for the third quarter ended September 30, 2025, showcasing significant year-over-year growth. Revenues reached $50.8 million, a 78% increase compared to the same quarter last year, and net income was $20.3 million with a 40% margin. Adjusted EBITDA also saw a substantial rise, increasing by 79% to $44.9 million. The company reaffirmed its fiscal year 2025 Adjusted EBITDA outlook to be between $165 million and $175 million.
Key Highlights
- 1
LandBridge Company LLC reported a 78% year-over-year increase in revenue, reaching $50.8 million for the third quarter of 2025.
- 2
Adjusted EBITDA for Q3 2025 increased by 79% year-over-year to $44.9 million.
- 3
The company's net income for the third quarter of 2025 was $20.3 million, resulting in a net income margin of 40%.
- 4
LandBridge closed an acquisition of approximately 37,500 acres, supporting the strategy of optimizing and diversifying revenue streams.
- 5
The company declared a quarterly cash dividend of $0.10 per share.
- 6
Cash flow from operating activities was $34.9 million for the third quarter of 2025.
- 7
Free Cash Flow for the third quarter of 2025 was $33.7 million.
Management Comments
Jason Long
As we advance our business plan and trajectory, we have shifted the paradigm of active land ownership with a strategy that maximizes the value of over 300,000 optimally located and largely contiguous surface acres. We have already established partnerships with industry-leading operators and developers that provide reliable and diverse revenue streams, and have only scratched the surface in terms of the many compelling opportunities we are evaluating. LandBridge provides our business partners with unparalleled access to expansive surface acreage for conventional and alternative energy development, digital infrastructure build-out, power storage, waste management, and many other commercial uses.
Scott McNeely
LandBridge delivered its sixth consecutive public quarter of strong growth, driven by increases across all key revenue streams and underpinned by a high-margin, highly capital-efficient and asset-light business model. In addition, we have further diversified our revenue portfolio with the recent 1918 acquisition, which will provide our customers with increased access to pore space and surface acreage well-suited to alternative energy development. Finally, the successful sale of the Reeves County solar project further demonstrates the potential for alternative energy development on our acreage. I'm excited for our team to continue executing on disciplined growth opportunities and acquisitions that maximize the value of our surface land asset for the benefit of all our stakeholders.
Informational and educational content only. Not investment advice.