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Xplr Infrastructure, LP cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$65.0M in Q3 2026 · −$191M over twelve months

Operating cash flow$179M
Capital spending−$244M
Free cash flow−$65.0M
Cash / net income1.9×

Analysis

In Q3 2026, Xplr Infrastructure, LP generated $179M of operating cash flow and spent $244M on capital projects, leaving free cash flow of −$65.0M. That is $218M more than in Q3 2025 (−$283M).

Over the twelve months to Sep 30, 2026, operating cash flow was $593M; the largest uses were other financing ($1.8B), asset & business sales ($1.1B), capital spending ($784M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.9B), other investing ($1.2B); the cash balance fell by $209M.

Operating cash flow was $179M against net income of $93.0M — 1.9× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets +$81.0M, other liabilities −$74.0M, deferred taxes +$39.0M.

Free cash flow

Xplr Infrastructure, LP: free cash flow by quarterXplr Infrastructure, LP: free cash flow by quarter$231MQ4 2024$1.0MQ1 2025$151MQ2 2025−$283MQ3 2025−$88.0MQ4 2025−$30.0MQ1 2026−$8.0MQ2 2026−$65.0MQ3 2026
Operating cash flow less capital spending.
Xplr Infrastructure, LP: operating cash flow against capital spendingXplr Infrastructure, LP: operating cash flow against capital spendingOperating cash flowCapital spending$283M$52.0MQ4 2024$90.0M$89.0MQ1 2025$232M$81.0MQ2 2025$231M$514MQ3 2025$186M$274MQ4 2025−$5.0M$25.0MQ1 2026$233M$241MQ2 2026$179M$244MQ3 2026
Latest (Q3 2026): Operating cash flow $179M, Capital spending $244M.

Capital allocation, year by year

Xplr Infrastructure, LP: where the cash came from (up) and went (down), by fiscal yearXplr Infrastructure, LP: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow $677MFY2021: Net borrowing $2.9BFY2021: Shares issued $50.0MFY2021: Capital spending −$113M$3.6BFY2021FY2022: Operating cash flow $776MFY2022: Net borrowing $1.5BFY2022: Shares issued $147MFY2022: Asset sales $204MFY2022: Capital spending −$1.4B$2.6BFY2022FY2023: Operating cash flow $731MFY2023: Net borrowing $2.4BFY2023: Shares issued $315MFY2023: Asset sales $1.9BFY2023: Capital spending −$1.3B$5.3BFY2023FY2024: Operating cash flow $800MFY2024: Net borrowing $353MFY2024: Shares issued $3.0MFY2024: Capital spending −$241M$1.2BFY2024FY2025: Operating cash flow $739MFY2025: Net borrowing $3.4BFY2025: Shares issued $4.0MFY2025: Capital spending −$958M$4.2BFY2025
Over these 5 years operating cash flow totalled $3.7B; the largest uses were capital spending ($3.9B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$505M
Debt$6.2B
Net debt$5.7B
Due within a year$764M

Xplr Infrastructure, LP's operations bring cash in ($593M over twelve months), and it spends more than that on capital projects: a gap of $191M funded from its $505M of cash and investments and from borrowing ($6.2B of debt, $764M due within a year). That is a choice to invest, not a cash runway running down.

Xplr Infrastructure, LP: debt maturities by year (FY2025)Xplr Infrastructure, LP: debt maturities by year (FY2025)$764MYear 1$629MYear 2$646MYear 3$828MYear 4$823MYear 5
Principal due in each year as disclosed in the annual report, against $505M of cash and investments now.

Where the cash came from and went

Xplr Infrastructure, LP: sources (+) and uses (−) of cash, Q3 2026Xplr Infrastructure, LP: sources (+) and uses (−) of cash, Q3 2026Capital spending−$244MOperating cash flow$179MNet borrowing (+) / repaid (−)$76.0MOther financing−$37.0MOther investing$31.0MCash drawn (+) / kept (−)−$5.0M
Xplr Infrastructure, LP: sources (+) and uses (−) of cash, TTM to Q3 2026Xplr Infrastructure, LP: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)$1.9BOther financing−$1.8BOther investing$1.2BAsset & business sales−$1.1BCapital spending−$784MOperating cash flow$593MCash drawn (+) / kept (−)$209MPartners−$149MShares issued$3.0M

From profit to cash

Xplr Infrastructure, LP: net income to operating cash flow, Q3 2026Xplr Infrastructure, LP: net income to operating cash flow, Q3 2026Net income$93.0MDeferred taxes$39.0MGains on disposals−$23.0MOther non-cash$7.0MPrepaid and other assets$81.0MOther liabilities−$74.0MOperating cash flow$179M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$179M−$244M$76.0M—−$5.0M−$65.0M
Q2 2026$233M−$241M$232M—$440M−$8.0M
Q1 2026−$5.0M−$25.0M$294M$3.0M$22.0M−$30.0M
Q4 2025$186M−$274M$1.3B—−$248M−$88.0M
Q3 2025$231M−$514M$74.0M—$155M−$283M
Q2 2025$232M−$81.0M$338M$1.0M$656M$151M
Q1 2025$90.0M−$89.0M$1.8B$3.0M−$1.3B$1.0M
Q4 2024$283M−$52.0M$155M—$18.0M$231M

Xplr Infrastructure, LP: income statement and cash flow

Xplr Infrastructure, LP, Q3 2026: revenue $332M (+5% year over year), operating margin 25.0%. The chart follows the revenue to costs, profit and cash.

Xplr Infrastructure, LP: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.