Filing Flows › WaterBridge Infrastructure LLC (WBI) › Q1 2026
WaterBridge Infrastructure LLC (WBI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
WaterBridge Infrastructure LLC (WBI) reported revenue of $201M for the first quarter 2026 (Q1 2026), +105% from a year earlier and -4% from the quarter before. Operating margin was 15.2%, net earnings $3.5M (1.7% of revenue).
WaterBridge Infrastructure LLC, Q1 2026: revenue $201M (+105% year over year), operating margin 15.2%, net earnings $3.5M, operating cash flow $95.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $201M | -4% | +105% |
| Operating profit | $30.5M | +37% | +94% |
| Net earnings | $3.5M | — | +105% |
| Operating cash flow | $95.1M | +8% | +120% |
What changed
Revenue was $201.0M in Q1 2026, up 105% year over year and down 4% from the previous quarter.
Operating profit was $30.5M, a 15.2% margin (down 0.9 points year over year). Of the extra revenue versus a year earlier, 14% reached operating profit, below the 16% margin then. Total costs grew 107% against revenue growth of 105%. The fastest-growing cost line was General & admin (+155%). Net earnings were $3.5M, up 105% year over year. The effective tax rate was 10.0%.
Operating cash flow was $95.1M (up 120% year over year), 999% of net income including minority interests. Non-cash charges added back $45.0M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $38.0M. Capital expenditures of $110.9M exceeded it, leaving free cash flow of −$15.8M.
Questions
What was WaterBridge Infrastructure LLC's revenue in the first quarter 2026?
WaterBridge Infrastructure LLC (WBI) reported revenue of $201M for the first quarter 2026 (Q1 2026), +105% from a year earlier and -4% from the quarter before.
Was WaterBridge Infrastructure LLC profitable in the first quarter 2026?
Operating profit was $30.5M (15.2% of revenue) and net earnings $3.5M.