WaterBridge Q4 revenue $208.9M, volumes up 1% QoQ; initiates $0.05 dividend

WaterBridge Infrastructure LLC

Q4 produced water volumes 2.6M bpd, revenue $208.9M (+2% QoQ), net loss $13.6M.
FY2025 pro forma revenue $790.0M (+19% YoY), pro forma Adjusted EBITDA $402.8M (51% margin).
Inaugural quarterly dividend of $0.05/share declared; payable March 19, 2026.
2026 guidance: Adj. EBITDA $420-460M, volumes 2,500-2,700 MBbl/d, capex $430-490M.
Speedway Pipeline Phase I expected mid-2026; Phase II open season commenced Feb 2026.

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