LandBridge Q3 revenue misses estimates

LandBridge LLC

12/11/2025 22:00

Overview

LandBridge Q3 revenue grows 78% yr/yr but misses analyst expectations

Adjusted EBITDA for Q3 rises 79% yr/yr but misses analyst estimates

Company acquired about 37,500 acres, expanding holdings to over 300,000 surface acres

Outlook

Company reaffirms FY 2025 Adjusted EBITDA between $165 mln and $175 mln

Result Drivers

ACQUISITIONS - Acquisition of 37,500 acres expanded holdings and enhanced ability to meet demand for produced water handling and alternative energy development

DIVERSIFIED REVENUE STREAMS - Revenue growth supported by increases in surface use royalties and oil and gas royalties

ASSET-LIGHT MODEL - High margins and efficient capital use attributed to asset-light business model

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$50.80 mln
$51.81 mln (6 Analysts)
Q3 Net Income
$20.30 mln
Q3 Adjusted EBITDA
Miss
$44.90 mln
$46.44 mln (6 Analysts)
Q3 Adjusted EBITDA Margin
88%
Q3 Free Cash Flow
$33.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for LandBridge Co LLC is $70.50, about 15.6% below its November 12 closing price of $81.51

The stock recently traded at 44 times the next 12-month earnings vs. a P/E of 29 three months ago

Press Release: ID:nBw7NZSH1a

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)