LandBridge Corp
For the period ended Mar 31, 2025. Filed May 8, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
9. Earnings Per Share
Earnings Per Share
The Company’s unvested RSUs are deemed to be participating securities; therefore, the Company applies the two-class method for the calculation of basic EPS for the Class A shares. Diluted EPS attributable to Class A shares is calculated under both the two-class method and the treasury stock method, and the more dilutive of the two calculations is presented.
Class B shares are considered potentially dilutive shares of Class A shares because Class B shares are convertible into Class A shares on a one-for-one basis; therefore, the Company applies the if-converted method for the calculation of diluted EPS for the Class A shares.
We determined that the presentation of EPS for the period prior to the IPO would not be meaningful due to the significant nature of the change to our capital structure as part of the IPO. Therefore, EPS information has not been presented for periods prior to the IPO.
The following table sets forth the computation of basic and diluted EPS attributable to our Class A shares for thethree months ended March 31, 2025, which represents the period subsequent to the IPO.
| (in thousands, except for share and per share amounts) | Three Months Ended March 31, 2025 |
|---|---|
| Numerator | |
| Net income attributable to LandBridge Company LLC | $6,464 |
| Less: Earnings allocated to participating securities | 202 |
| Basic net income attributable to LandBridge Company LLC | 6,262 |
| Plus: Net income attributable to noncontrolling interest | 8,995 |
| Plus: Undistributed earnings reallocation adjustment to participating securities | 1 |
| Diluted net income attributable to Class A shareholders | $15,258 |
| Denominator | |
| Basic weighted average shares outstanding | 23,255,419 |
| Dilutive Class B shares outstanding | 53,209,359 |
| Diluted weighted average shares outstanding | 76,464,778 |
| Basic net income per share of Class A shares | $0.27 |
| Diluted net income per share of Class A shares | $0.20 |
Class B shares outstanding as of March 31, 2025 were determined to be dilutive and have been included in the computation of diluted net income per share. In addition, weighted-average RSUs of 750,600 were evaluated under the treasury stock method for potentially dilutive effects and were determined to be anti-dilutive for the three months ended March 31, 2025 and have been excluded from the computation of diluted net income per share.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.