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NYSE: LB LandBridge Co LLC 10-Q

LandBridge Q1 revenue up 16% to $51M; operating cash flow surges 158% to $41.1M

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~1 min read

Key Changes

  • high

    Operating cash flow jumped 158% YoY to $41.1M as working capital normalized after Q4 2024 receivables buildup, demonstrating strong cash conversion from revenue growth.

    MD&A: Cash Flow verify on EDGAR →
  • high

    Brackish water sales volume fell 47% YoY to 6.5M barrels, reflecting lower upstream drilling activity and commodity-price volatility in surrounding areas.

    MD&A: Brackish Water Revenue verify on EDGAR →
  • high

    Company completed November 2025 debt refinancing: replaced 2023 credit facilities with $500M of 6.25% fixed-rate notes due 2030 and $275M revolving facility, extending maturities and increasing capacity.

    MD&A: Debt Structure verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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