LandBridge Corp
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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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, 2026 · Filed Nov 5, 2026
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)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net income | $82,965 | $54,225 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 13,354 | 7,730 |
| Amortization of debt issuance costs | 1,746 | 1,619 |
| Share-based compensation | 31,646 | 33,636 |
| Deferred income tax expense | 3,472 | 2,265 |
| Other | (5) | 5 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (10,903) | (7,130) |
| Related party accounts receivable | (6,266) | (2,452) |
| Prepaid expenses and other assets | (825) | (3,906) |
| Accounts payable | 158 | 65 |
| Related party accounts payable | 438 | 216 |
| Taxes payable | 3,584 | 1,432 |
| Accrued and other liabilities | 12,690 | 452 |
| Net cash provided by operating activities | 132,054 | 88,157 |
| Cash flows from investing activities | ||
| Acquisitions | (278,961) | (18,767) |
| Capital expenditures | (1,888) | (2,496) |
| Proceeds from disposal of assets | 55 | 210 |
| Net cash used in investing activities | (280,794) | (21,053) |
| Cash flows from financing activities | ||
| Proceeds from debt | 220,000 | 15,000 |
| Repayments of debt | (25,654) | (31,154) |
| Dividends, dividend equivalents and distributions paid | (50,731) | (52,773) |
| Taxes paid related to net share settlement of RSUs | (6,567) | (5,728) |
| Debt issuance costs | (2,030) | (55) |
| Offering costs | - | (1,110) |
| Other | (244) | - |
| Net cash provided by (used in) financing activities | 134,774 | (75,820) |
| Net decrease in cash and cash equivalents | (13,966) | (8,716) |
| Cash and cash equivalents - beginning of period | 30,741 | 37,032 |
| Cash and cash equivalents - end of period | $16,775 | $28,316 |
Notes to the Unaudited Condensed Consolidated Financial Statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.