WBI
WaterBridge Infrastructure LLC19.80
-0.90-4.35%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
856.64MP/E (TTM)
-Basic EPS (TTM)
-0.66Dividend Yield
0%Recent Filings
8-K
Appoints Janet Carrig to Board
WaterBridge Infrastructure appointed Janet Carrig to its Board on December 12, 2025, deeming her independent and assigning her to the Audit Committee, replacing Michael Sulton there while he stays on the Board. Carrig brings 20+ years as a top lawyer, including GC roles at ConocoPhillips and Kellogg. She gets 6,500 RSUs and $110,000 annual cash retainers. Board gains sharp legal expertise.
8-K
Q3 revenue up 8%, EBITDA $106M
WaterBridge reported Q3 pro forma revenue of $205.5M, up 8% quarter-over-quarter, driven by 2.5M bpd produced water volumes, a 7% rise. Pro forma Adjusted EBITDA hit $105.7M at 51% margin, while net loss stood at $18.7M. Key wins: bpx Kraken pipeline online with 400 MBbls/d capacity and 10-year commitment; Speedway Pipeline construction underway for mid-2026 service. Post-quarter, $1.425B notes offering boosted liquidity. Volumes fuel growth, yet customer reliance looms.
10-Q
Q3 FY2025 results
WaterBridge Infrastructure posted Q3 revenues of $123.3M, up 37% y/y, fueled by 40% higher produced water handling volumes at 1,513 MBbl/d while gross margins held steady at $0.21/Bbl. Operating income climbed 26% y/y to $23.7M as the September Combination with WBEF and Desert Environmental added scale, recognizing $834M customer contracts (10-year life) and $43M goodwill. Cash swelled to $346.6M post-IPO with $1.7B debt (NDB/SDB Term Loans at 8-9% rates); revolvers fully available at $200M total. Free cash flow not disclosed in the 10-Q. Volumes grow steadily. Reliance on Delaware Basin customers poses concentration risk.
8-K
IPO success bonuses awarded
WaterBridge Infrastructure LLC awarded one-time cash bonuses to key executives following its initial public offering on October 7, 2025. CEO Jason Long received $590,000, President Michael Reitz $535,000, CFO Scott McNeely $470,000, and General Counsel Harrison Bolling $430,000, paid October 10. These bonuses recognize employee efforts in the IPO. Bonuses reward hard work.
8-K
Closes $1.425B notes offering
WaterBridge Infrastructure's subsidiary closed an upsized $825M 6.250% senior notes due 2030 and $600M 6.500% notes due 2033 on October 6, 2025. Proceeds repay $1.712B legacy term loans outstanding as of September 29, plus general purposes. Notes carry standard covenants, early equity call options. Debt refi extends maturities.
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