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LandBridge Company LLC Class A Shares Representing Limited Liability Company Interests (LB+5.26%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. The filing is available for review filing.
The report details LandBridge's financial performance, highlighting total revenues of $109.95 million for the year, an increase from $72.87 million in the previous year. The increase was driven by higher surface use royalties and easements, offset by a decline in oil and gas royalties.
LandBridge reported a net loss of $41.48 million for 2024, compared to a net income of $63.17 million in 2023. The loss was primarily due to a significant increase in share-based compensation expenses.
The company completed several acquisitions during the year, including the purchase of approximately 200,000 surface acres in the Delaware Basin, which contributed to the increased revenue.
LandBridge's cash flow from operating activities increased to $67.64 million, up from $53.04 million in the prior year. The company also reported capital expenditures of $724.35 million, primarily related to acquisitions.
The filing notes that LandBridge's primary sources of liquidity are cash flows from operations and borrowings under its credit facility. As of December 31, 2024, the company had $385.5 million in total debt outstanding.
LandBridge's report also discusses its strategic focus on managing its land and resources to support energy and infrastructure development. The company aims to generate long-term revenue and free cash flow for shareholders.
The report outlines various risks, including market price volatility for oil and natural gas, regulatory changes, and the potential impact of environmental regulations on its operations.
The filing includes a detailed discussion of the company's internal controls and procedures, noting that it is not currently required to comply with the SEC's rules implementing Section 404 of the Sarbanes-Oxley Act.
LandBridge's annual report provides a comprehensive overview of its financial and operational performance, strategic initiatives, and the risks it faces in the current market environment.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the LandBridge Company LLC Class A Shares Representing Limited Liability Company Interests annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.