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Get filing alertsLandBridge reports 16% Q1 revenue growth, raises full-year guidance, signs 2 GW data center deal
Filed May 6, 2026 · Period ending May 6, 2026 · ~1 min read
Key Changes
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Q1 2026 revenues of $51.0 million and net income of $17.9 million, both up 16% year-over-year; raised full-year Adjusted EBITDA guidance to $210-230 million (24% growth at midpoint) citing increased commercial pipeline visibility.
Exhibit 99.1 view on EDGAR → -
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Entered lease development agreement with PowerBridge LLC for up to 3,400 acres in Reeves County, Texas for giga-scale data center campus with up to 2 GW of initial co-located power generation (Alpha Digital Campus).
Exhibit 99.1 view on EDGAR → -
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Acquired approximately 5,700 acres year-to-date through bolt-on acquisitions, expanding total surface acreage to over 320,000 acres and enhancing contiguous position for digital infrastructure and commercial opportunities.
Exhibit 99.1 view on EDGAR → -
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Generated $41.1 million in operating cash flow (up 158% year-over-year) and reduced outstanding debt by $25 million to $545 million; total liquidity of $259.7 million as of March 31, 2026.
Exhibit 99.1 view on EDGAR → -
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Board declared quarterly dividend of $0.12 per Class A share, payable June 18, 2026 to shareholders of record as of June 4, 2026.
Exhibit 99.1 view on EDGAR →
Summary
LandBridge delivered strong first quarter 2026 results with revenues and net income both up 16% year-over-year to $51.0 million and $17.9 million respectively. The company raised its full-year Adjusted EBITDA guidance to $210-230 million, representing approximately 24% growth at the midpoint, citing increased visibility in its commercial pipeline and a more supportive macroeconomic environment.
Operating cash flow surged 158% year-over-year to $41.1 million, enabling the company to reduce debt by $25 million during the quarter. The most significant development is LandBridge's lease development agreement with PowerBridge LLC for up to 3,400 acres in Reeves County, Texas to support a giga-scale data center campus with up to 2 GW of initial co-located power generation.
This Alpha Digital Campus project demonstrates concrete commercial demand for digital infrastructure on LandBridge's land holdings. The company also acquired approximately 5,700 acres year-to-date through strategic bolt-on acquisitions, expanding its total acreage to over 320,000 acres and strengthening its contiguous position for future digital infrastructure and commercial opportunities. The Board declared a $0.12 per share quarterly dividend, continuing the company's capital return program.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
LandBridge posted Q1 2026 earnings presentation on investor relations website under Regulation FD disclosure.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
on March 6, 2026, the Company posted an investor presentation on its website. The presentation, titled “LandBridge Earnings Presentation First Quarter 2026,” may be found at https://ir.landbridgeco.com in the “Events and Presentations” section on the Company’s “Investor Relations” webpage.
LandBridge disclosed that it posted its first quarter 2026 earnings presentation on its investor relations website on March 6, 2026. This is a routine Regulation FD disclosure informing investors where to find the company's quarterly earnings materials. The filing notes that information posted on the investor relations webpage could be deemed material.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Acquired approximately 5,700 acres year-to-date through a number of strategic bolt-on acquisitions, bringing total surface acreage owned or managed to more than 320,000 acres(3). Transactions add to LandBridge’s contiguous acreage position, increasing the ... attractiveness of LandBridge’s acreage for digital infrastructure projects, underutilized pore space and other commercial opportunities.
• Entered into a lease development agreement with PowerBridge LLC (“PowerBridge”) providing the option to lease up to ~3,400 acres in Reeves County, Texas from LandBridge for a giga-scale data center campus with up to 2 GW of initial co-located power generation under development by PowerBridge and its power partners (the “Alpha Digital Campus”).
LandBridge acquired approximately 5,700 acres year-to-date through strategic bolt-on acquisitions, expanding its total acreage to over 320,000 acres. The company also entered into a lease development agreement with PowerBridge LLC for up to approximately 3,400 acres in Reeves County, Texas for a giga-scale data center campus with up to 2 GW of initial co-located power generation. These transactions enhance the company's contiguous acreage position and demonstrate commercial demand for digital infrastructure on its land.
Added in current filing · view on EDGAR →
Cash flows from operating activities of $41.1 million, representing an increase of 158% year-over-year and 8% quarter-over-quarter
• Free Cash Flow(2) of $40.9 million, representing an increase of 158% year-over-year and 13% quarter-over-quarter
• Operating cash flow margin of 81%
• Free Cash Flow Margin(2) of 80%
LandBridge generated $41.1 million in operating cash flow and $40.9 million in Free Cash Flow during Q1 2026, both up 158% year-over-year. The company reduced outstanding debt from $570 million at December 31, 2025 to $545 million at March 31, 2026, a reduction of $25 million. Total liquidity stood at $259.7 million as of March 31, 2026, including approximately $230.0 million of available borrowing capacity under its revolving credit facility.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 1, 2026 · How we verify