Skip to content
Optionomics Free · No account needed

Earnings analysis · 10-Q

WBI earnings analysis

Filed May 6, 2026 · Our reading of the company's report

The latest report

WaterBridge Infrastructure LLC reported strong first quarter results for 2026, driven by a significant 105% year-over-year increase in revenue to $201.0 million, despite falling short of consensus estimates. The company…

Read full summary

WaterBridge Infrastructure LLC reported strong first quarter results for 2026, driven by a significant 105% year-over-year increase in revenue to $201.0 million, despite falling short of consensus estimates. The company achieved a net income of $9.5 million, a 456% rise from the previous year, showcasing improved operational efficiency and increased demand for its water management services, though it faced slight declines in specific segments like water solutions. The company maintains confidence in future growth, supported by their extensive produced water infrastructure and strategic contracts.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $76 Operating expenses $9 Left as operating profit $15

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$0.08
Segment
Produced Water Handling
Segment
Water Solutions
Segment
Other Revenues

What stood out

  • Revenue Soars 105% YoY

    Total revenue reached $201.0 million, up from $97.9 million in Q1 2025, although slightly below expectations.

  • Net Income Up 456%

    Net income rose to $9.5 million compared to $1.7 million in the previous year, reflecting strong operational performance.

  • Produced Water Volumes Increased

    Total produced water handling volumes reached 2,460 MBbl/d, marking a 105% increase year-over-year.

  • Improved Net Income Margin

    Net income margin improved to 5% from 2% in Q1 2025, highlighting operational efficiencies.

  • Cash Flow from Operations Significantly Increased

    Net cash provided by operating activities rose to $95.1 million, up from $43.2 million in Q1 2025.

  • Adjusted Operating Margin Growth

    Adjusted Operating Margin per barrel increased to $0.45, up from $0.39 in the same quarter last year.

What to watch

  • Increased Operational Costs

    Direct operating costs increased by $41.9 million due to higher wages and utility costs, potentially impacting margins.

  • Commodity Price Volatility

    Rising geopolitical tensions and inflation could directly affect commodity prices, impacting customer demand and operations.

  • Dependence on Key Customers

    The company's business model relies heavily on long-term contracts with a limited customer base, exposing it to significant risk if demand shifts.

Management's outlook

Future guidance includes increased produced water handling volumes to 2.525 to 2.725 million barrels per day and Adjusted EBITDA growth to $425 to $465 million.

Earlier filings 1

10-K · March 16, 2026

WaterBridge positions itself as a leading pure‑play produced water infrastructure company with scale in the Delaware Basin, operating ~2,500 miles of pipelines, 201 produced water handling facilities and ~4.7 million…

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.