Earnings Releases·Nov 4, 2026, 4:15 PM ET

WaterBridge — Third Quarter 2026 Earnings Summary

Revenue rose 17% year-over-year and 10% quarter-over-quarter to $240.2 million, while Adjusted EBITDA increased 18% year-over-year and 7% quarter-over-quarter to $124.2 million; net income declined to $13.3 million from $14.6 million in Q2.
Management raised 2026 guidance for produced water handling volumes by 2% (midpoint 2.70 million bpd) and Adjusted EBITDA by 4% (midpoint $475 million), while lowering Capital Expenditures guidance by 3% to $530–$560 million due to timing shifts into 2027.
Strategic capital activities included a $250 million revolver upsize and the issuance of $150 million in senior notes in August, resulting in total borrowings of $1.837 billion and total liquidity of $539.7 million as of September 30, 2026.
Record Q3 volumes of 2.8 million barrels per day were driven by strong Delaware Basin activity and the outperformance of the Speedway Phase I pipeline, with management projecting a 2027 outlook meaningfully stronger than at IPO.