| Metric | Value ($ M) | vs Q2 FY25 |
|---|---|---|
| Revenue | 123.25 | 29.0% |
| Total Income | 123.25 | 29.0% |
| Expenditure | 99.56 | 27.1% |
| PBT | 4.39 | 38.5% |
| Net Profit | -0.67 | 109.4% |
| OPM | 19.22% | 1.25pp |
| NPM | -0.54% | 8.00pp |
| EPS | -0.02 |
WaterBridge Infrastructure LLC Announces Q3 2025 Results
04 May 2026 · 4 May, 7:20 am
Summary
WaterBridge Infrastructure LLC announced its Q3 2025 financial and operating results, reporting an 8% increase in pro forma revenue to $205.5 million compared to the previous quarter. The company's produced water handling volumes grew by 7% to 2.5 million barrels per day. Pro forma net loss for the quarter was $18.7 million, while pro forma Adjusted EBITDA reached $105.7 million. Subsequent to the quarter's close, WaterBridge completed a $1.425 billion senior notes offering to enhance its balance sheet and liquidity.
Key Highlights
- 1
WaterBridge Infrastructure LLC reported an 8% quarter-over-quarter increase in pro forma revenue, reaching $205.5 million for Q3 2025.
- 2
The company's combined produced water handling volumes for Q3 2025 were 2.5 million barrels per day, a 7% increase compared to Q2 2025.
- 3
Pro forma Adjusted EBITDA for the third quarter of 2025 was $105.7 million.
- 4
The bpx Kraken pipeline project commenced operations during the quarter, adding an initial capacity of approximately 400 MBbls/d.
- 5
WaterBridge closed an inaugural $1.425 billion senior notes offering on October 6, 2025, to streamline the balance sheet and increase liquidity.
- 6
Credit Ratings of BB- / BB- / Ba3 were assigned by S&P Global, Fitch, and Moody’s ratings agencies, respectively.
Management Comments
Jason Long
WaterBridge’s upsized IPO brought the largest and most innovative pure-play water infrastructure company in the United States to the public markets. As a publicly traded company, we now have even greater resources to develop and support purpose-built, scalable infrastructure for our customers. Produced water volumes in the Delaware Basin continue to rise, and our network of nearly 200 produced water facilities, over 2,500 miles of pipeline, and 4.5 million barrels per day of produced water handling capacity is well-positioned to provide a turnkey solution to rising demand. We remain focused on providing access to significant, underutilized, and responsibly developed pore space and enabling critical flow assurance for producers, and we look forward to advancing our leading position in this important region for energy production.
Scott McNeely
WaterBridge is well-positioned for growth, underpinned by a strong balance sheet, diverse and predictable cash flows, and industry-leading technology. We will continue to invest in high-return organic capital projects as we expand our infrastructure network to meet the evolving needs of current and future customers. The opening of the bpx Kraken pipeline project this quarter is an important proof point of our momentum, and its 10-year minimum volume commitment reflects the long-term relationships we secure with our customers, providing stable cash flow and insight into future revenues.
Informational and educational content only. Not investment advice.