Filing Flows › LandBridge (LB) › Q1 2025
LandBridge (LB) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
LandBridge (LB) reported revenue of $44.0M for the first quarter 2025 (Q1 2025), +131% from a year earlier and +20% from the quarter before. Operating margin was 57.0%, net earnings $6.5M (14.7% of revenue).
LandBridge, Q1 2025: revenue $44.0M (+131% year over year), operating margin 57.0%, net earnings $6.5M, operating cash flow $15.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $44.0M | +20% | +131% |
| Operating profit | $25.0M | +39% | +85% |
| Net earnings | $6.5M | +163% | -40% |
| Operating cash flow | $15.9M | -41% | -8% |
| Free cash flow | $15.8M | -41% | -7% |
What changed
Revenue was $44.0M in Q1 2025, up 131% year over year and up 20% from the previous quarter.
Operating profit was $25.0M, a 57.0% margin (down 14.1 points year over year). Of the extra revenue versus a year earlier, 46% reached operating profit, below the 71% margin then. Total costs grew 244% against revenue growth of 131%. Net earnings were $6.5M, down 40% year over year. The effective tax rate was 9.4%.
Operating cash flow was $15.9M (down 8% year over year), 103% of net income including minority interests. Non-cash charges added back $2.6M of depreciation and amortization and $11.1M of share-based compensation. Working capital and other items used $13.3M. Capital expenditures of $69K left free cash flow of $15.8M.
Questions
What was LandBridge's revenue in the first quarter 2025?
LandBridge (LB) reported revenue of $44.0M for the first quarter 2025 (Q1 2025), +131% from a year earlier and +20% from the quarter before.
Was LandBridge profitable in the first quarter 2025?
Operating profit was $25.0M (57.0% of revenue) and net earnings $6.5M.
Source: LandBridge 10-Q on SEC EDGAR.