WaterBridge Q3 revenue rises 17% on record produced water volumes
Overview
US water infrastructure firm's Q3 revenue rose 17% yr/yr on record produced water volumes
Adjusted EBITDA grew 18% yr/yr, driven by higher volumes and margin improvement
Company raised 2026 volume and EBITDA guidance, lowered capital expenditure outlook
Outlook
Company now expects 2026 produced water handling volumes of 2.65-2.75 mln barrels per day
WaterBridge raises 2026 Adjusted EBITDA guidance to $465-$485 mln
Company lowers 2026 capital expenditures guidance to $530-$560 mln
Result Drivers
DELAWARE BASIN ACTIVITY - Co said higher activity in the Delaware Basin and increased capture of existing volumes drove record produced water handling volumes
SPEEDWAY PIPELINE - Outperformance of Speedway Phase I pipeline contributed to higher volumes and new commercial agreements
HIGHER CONTRACT RATES - Increased volumes and higher rates on new contracts contributed to sequential revenue growth
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | $240.16 mln | ||
Q3 Net Income | $13.33 mln | ||
Q3 Operating Income | $41.31 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the water & related utilities peer group is "buy"
Wall Street's median 12-month price target for WaterBridge Infrastructure LLC is $37.00, about 30.6% above its November 3 closing price of $28.32
The stock recently traded at 45 times the next 12-month earnings vs. a P/E of 48 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)