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Hornbeck Offshore Services vs WaterBridge Infrastructure LLC: HOS and WBI compared
Hornbeck Offshore Services is the larger company: $304M of revenue in its latest quarter (Q2 2026) against $240M for WaterBridge Infrastructure LLC (Q3 2026). WaterBridge Infrastructure LLC is growing faster (+95% against +21% a year earlier). WaterBridge Infrastructure LLC is more profitable, with an operating margin of 17.2% against 8.8%.
Where the money goes: HOS and WBI
Hornbeck Offshore Services (HOS) · Q2 2026
Hornbeck Offshore Services, Q2 2026: revenue $304M (+21% year over year), operating margin 8.8%, net earnings $22.7M, operating cash flow $53.9M. The chart follows the revenue to costs, profit and cash.
WaterBridge Infrastructure LLC (WBI) · Q3 2026
WaterBridge Infrastructure LLC, Q3 2026: revenue $240M (+95% year over year), operating margin 17.2%, net earnings $5.5M, operating cash flow $106M. The chart follows the revenue to costs, profit and cash.
| Hornbeck Offshore Services (HOS) | WaterBridge Infrastructure LLC (WBI) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $304M | $240M |
| Revenue growth, Y/Y | +21% | +95% |
| Gross margin | 18.5% | — |
| Operating margin | 8.8% | 17.2% |
| Net earnings | $22.7M | $5.5M |
| Net margin | 7.5% | 2.3% |
| Operating cash flow | $53.9M | $106M |
| Free cash flow | $46.7M | — |
Where the revenue comes from
Hornbeck Offshore Services
- Decommissioning: $139M (46%)
- Production maximization: $115M (38%)
- Renewables: $47.5M (16%)
- Other: $3.0M (1%)
Questions
Which is bigger, Hornbeck Offshore Services or WaterBridge Infrastructure LLC?
Hornbeck Offshore Services is the larger company: $304M of revenue in its latest quarter (Q2 2026) against $240M for WaterBridge Infrastructure LLC (Q3 2026).
Is Hornbeck Offshore Services or WaterBridge Infrastructure LLC growing faster?
WaterBridge Infrastructure LLC is growing faster (+95% against +21% a year earlier).
Which is more profitable, Hornbeck Offshore Services or WaterBridge Infrastructure LLC?
WaterBridge Infrastructure LLC is more profitable, with an operating margin of 17.2% against 8.8%.
More: Hornbeck Offshore Services earnings · how Hornbeck Offshore Services makes money · WaterBridge Infrastructure LLC earnings · how WaterBridge Infrastructure LLC makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 6, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.