LandBridge reports Q1 revenue $44.0M, consensus $43.12M

Reports Q1 adjusted EBITDA of $38.8M, up 129% year-over-year and 22% quarter-over-quarter. The company said, “Our strong start to the year is evidence of our continued ability to capitalize on diverse revenue streams, including the growing need for surface acreage to support produced water handling needs across the Delaware Basin. Recent land acquisitions, and new projects with key partners and blue chip operators, give us continued confidence in our active land management strategy and growth trajectory. With diversified revenue streams and limited operating and capital expenditures, LandBridge (LB) is well positioned to continue delivering strong revenue growth and profitability across economic cycles and periodic market volatility.”