AcquisitionsRecent acquisitions bolstered footprint to 276,000 acres, up from 220,000 in mid-2024, indicating strong growth potential.
Financial PerformanceAdjusted EBITDA of $31.7MM beat the estimate of $30.8MM.
Growth PotentialLB's growth potential is illustrated by extending our model to 2033E, with both current and long-term valuation approaches delivering positive outcomes.