LandBridge Shares Rise Following Increased Outlook, Closed Acquisition

Dow Jones

23 Nov 2024

By Connor Hart

LandBridge's stock price jumped after the company increased its 2025 adjusted earnings outlook and said it closed a previously announced acquisition.

Shares gained 10%, to $74.25, on Friday. The stock had its trading debut in June, when the company sold 14.5 million shares for $17 each.

The Houston-based oil-patch land owner earlier in the day now expects 2025 adjusted earnings before interest, taxes, depreciation and amortization between $170 million and $190 million, up from between $140 million and $160 million. Analysts surveyed by FactSet are guiding for adjusted Ebitda of $144.8 million.

This higher outlook assumes its acquisition of the Wolf Bone Ranch, located in West Texas, will close during this year's fourth quarter, it said.

Also on Friday, LandBridge said it has closed its previously announced acquisition of about 5,800 largely contiguous surface acres in Lea County, N.M.

The purchase, which the company said expands its holdings into a new area of the Delaware Basin, was funded with a mix of equity and debt financing, including proceeds from a recent private placement of 5.8 million Class A shares. The company didn't disclose a purchase price.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 22, 2024 14:39 ET (19:39 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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LLC"},"translate_title":"岚桥股价在前景增强、收购完成后上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LB":0.9},"content_text":"By Connor Hart \n\n\n \n\n\n  LandBridge's stock price jumped after the company increased its 2025 adjusted earnings outlook and said it closed a previously announced acquisition. \n\n\n  Shares gained 10%, to $74.25, on Friday. The stock had its trading debut in June, when the company sold 14.5 million shares for $17 each. \n\n\n  The Houston-based oil-patch land owner earlier in the day now expects 2025 adjusted earnings before interest, taxes, depreciation and amortization between $170 million and $190 million, up from between $140 million and $160 million. 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