LandBridge Agency LLC (NYSE:LB) Q3 2024 Earnings Conference Identify November 7, 2024 9:00 AM ET
Agency People
Jason Prolonged – Chief Authorities Officer & Director
Scott McNeely – Chief Financial Officer
Conference Identify People
Charles Meade – Johnson Rice
Alexander Goldfarb – Piper Sandler
Kevin MacCurdy – Pickering Energy Companions
Operator
Ladies and gents, thanks for standing by. My determine is Desiree and I shall be your conference operator proper now. In the intervening time, I want to welcome everyone to the LandBridge Third Quarter 2024 Outcomes. All strains have been positioned on mute to forestall any background noise. After the speaker’s remarks, there shall be a question-and-answer session. [Operator Instructions]
I’d now like to point out the conference over to Jason Prolonged our CEO. You would possibly begin.
Jason Prolonged
Good morning, everyone, and thanks for changing into a member of our third quarter earnings identify. Our outcomes show the facility and momentum of our enterprise as we proceed to be taught from a sustained diploma of train throughout the Delaware Basin.
All through the quarter, we delivered 60% year-over-year revenue improvement, 62% year-over-year adjusted EBITDA improvement, and 88% adjusted EBITDA margins. Notably, we proceed to develop the proportion of revenues derived from fee-based preparations versus oil and gas royalties to extra mitigate our direct publicity to commodity worth fluctuations.
Inside the third quarter, non-oil and gas royalty revenue streams, which embrace flooring use royalties and revenues and helpful useful resource product sales and royalties accounted for 90% of complete revenues, up from 83% last quarter and 65% within the similar quarter last 12 months.
And by actively managing our land and belongings, we proceed to position ourselves to capitalize on a broad array of financial options on the Texas, New Mexico Stateline.
As talked about last quarter, West Texas is an increasingly more commonplace area for renewable vitality and digital infrastructure
