LandBridge Co LLC
For the period ended Sep 30, 2025. Filed Nov 12, 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.
Sep 30, 2025 · Filed Nov 12, 2025
LB$65.10+5.2%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
(in thousands, except share and per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenues: | ||||
| Surface use royalties | $8,235 | $4,227 | $27,775 | $9,129 |
| Surface use royalties - Related party | 10,152 | 5,627 | 24,743 | 11,902 |
| Easements and other surface-related revenues | 15,840 | 5,176 | 36,552 | 15,018 |
| Easements and other surface-related revenues - Related party | 807 | 1,465 | 6,388 | 4,224 |
| Resource sales | 4,501 | 4,874 | 17,122 | 11,908 |
| Resource sales - Related party | 731 | 57 | 1,098 | 329 |
| Resource royalties | 3,929 | 2,686 | 11,927 | 6,803 |
| Resource royalties - Related party | 1,604 | 1,472 | 5,558 | 2,579 |
| Oil and gas royalties | 3,332 | 2,903 | 9,452 | 11,563 |
| Other | 1,700 | - | 1,700 | - |
| Total revenues | 50,831 | 28,487 | 142,315 | 73,455 |
| Resource sales-related expense | 438 | 423 | 1,384 | 1,739 |
| Other operating and maintenance expense | 1,160 | 708 | 3,349 | 1,837 |
| General and administrative expense | 15,864 | 22,131 | 45,356 | 98,114 |
| Depreciation, depletion, amortization and accretion | 2,584 | 2,038 | 7,730 | 6,294 |
| Other operating (income) expense, net | (100) | - | 71 | - |
| Operating income (loss) | 30,885 | 3,187 | 84,425 | (34,529) |
| Interest expense, net | 7,889 | 7,071 | 23,745 | 16,235 |
| Other income | - | - | - | (241) |
| Income (loss) from operations before taxes | 22,996 | (3,884) | 60,680 | (50,523) |
| Income tax expense (benefit) | 2,705 | (1,128) | 6,455 | (890) |
| Net income (loss) | 20,291 | $(2,756) | 54,225 | $(49,633) |
| Net loss prior to the IPO | - | - | - | (46,877) |
| Net income (loss) attributable to noncontrolling interest | 12,184 | (5,412) | 32,153 | (5,412) |
| Net income attributable to LandBridge Company LLC | $8,107 | $2,656 | $22,072 | $2,656 |
| Net income (loss) per share of Class A shares | ||||
| Basic | $0.31 | $0.15 | $0.89 | |
| Diluted | $0.26 | $(0.04) | $0.70 | |
| Weighted average shares outstanding of Class A shares | ||||
| Basic | 25,335,054 | 17,425,000 | 24,227,677 | |
| Diluted | 76,518,549 | 73,151,603 | 76,459,219 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.