WaterBridge Infrastructure LLC - CL | 8-K: FY2026 Q2 Revenue: USD 217.77 M

Revenue: As of FY2026 Q2, the actual value is USD 217.77 M.

EBIT: As of FY2026 Q2, the actual value is USD 39.47 M.

Second Quarter 2026 Financial and Operational Highlights

Revenue and Volumes

WaterBridge Infrastructure LLC reported total revenues of $217.8 million for the second quarter of 2026, marking an 8% increase quarter-over-quarter. Segment revenues included $169.7 million from produced water handling, $27.9 million from produced water handling - related party, $8.4 million from water solutions, $0.9 million from water solutions - related party, $9.7 million from other revenues, and $1.1 million from other revenues - related party. Produced water handling volumes reached 2.6 million barrels per day, an increase of 6% quarter-over-quarter.

Profitability

Net income for the second quarter of 2026 was $14.6 million, an increase from $9.5 million in the first quarter, resulting in a net income margin of 7%. Operating income for the quarter was $40.3 million. Gross margin stood at $58.1 million, up from $48.2 million in the first quarter, with a gross margin per barrel of $0.22. Adjusted Operating Margin was $124.1 million, compared to $111.3 million in the prior quarter, and Adjusted Operating Margin per barrel was $0.46. Adjusted EBITDA was $115.8 million, increasing from $102.9 million in the first quarter, with an Adjusted EBITDA Margin of 53%.

Operating Costs

Total cost of revenues for the second quarter was $159.6 million, including $73.0 million in direct operating costs, $14.5 million in direct operating costs - related party, and $72.1 million in depreciation, depletion, amortization, and accretion. General and administrative expenses were $17.7 million.

Cash Flow and Capital Expenditures

Net cash provided by operating activities was $64.9 million for the second quarter of 2026. Capital expenditures for the quarter amounted to $123.3 million. Net cash used in investing activities was - $206.0 million, primarily due to capital expenditures and acquisitions. Net cash provided by financing activities was $138.1 million.

Balance Sheet and Liquidity

As of June 30, 2026, WaterBridge Infrastructure LLC reported total liquidity of $347.6 million, comprising $47.6 million in cash and cash equivalents and $300.0 million in available borrowing capacity under its revolving credit facility. Total borrowings outstanding were $1.636 billion, an increase from $1.486 billion as of March 31, 2026. The company’s revolving commitments were increased by $250.0 million to $750.0 million, with potential for further increase to $1.0 billion.

Dividends

WaterBridge Infrastructure LLC declared a quarterly cash dividend of $0.05 per share.

Outlook / Guidance

WaterBridge Infrastructure LLC increased its full-year 2026 guidance for key metrics. Produced water handling volumes are now projected to be between 2.55 and 2.75 million barrels per day. The Adjusted EBITDA guidance range has been raised to $435 million to $475 million, and capital expenditures are expected to be in the range of $530 million to $590 million.