| Schedule of Computation of Basic and Diluted Earnings Per Share |
The following table sets forth the computation of basic and diluted EPS attributable to our Class A shares for the three and nine months ended September 30, 2026 and 2025.
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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(in thousands, except for share and per share amounts) |
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2026 |
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2025 |
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2026 |
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2025 |
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Numerator |
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Net income |
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$ |
34,048 |
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$ |
20,291 |
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$ |
82,965 |
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$ |
54,225 |
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Less: Net income attributable to noncontrolling interest |
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21,090 |
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12,184 |
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49,005 |
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32,153 |
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Net income attributable to LandBridge Company LLC |
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12,958 |
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8,107 |
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33,960 |
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22,072 |
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Less: Earnings allocated to participating securities |
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174 |
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163 |
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570 |
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596 |
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Basic net income attributable to LandBridge Company LLC |
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$ |
12,784 |
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$ |
7,944 |
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$ |
33,390 |
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$ |
21,476 |
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Plus: Net income attributable to noncontrolling interest |
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- |
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12,184 |
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49,005 |
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32,153 |
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Plus: Undistributed earnings reallocation adjustment to participating securities |
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- |
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(8 |
) |
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(57 |
) |
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(15 |
) |
Diluted net income attributable to shareholders |
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$ |
12,784 |
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$ |
20,120 |
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$ |
82,338 |
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$ |
53,614 |
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Denominator |
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Basic weighted average shares outstanding |
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29,149,839 |
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25,335,054 |
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28,321,108 |
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24,227,677 |
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Dilutive Class B shares outstanding |
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- |
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51,183,495 |
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48,723,820 |
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52,231,542 |
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Diluted weighted average shares outstanding |
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29,149,839 |
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76,518,549 |
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77,044,928 |
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76,459,219 |
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Basic net income per share of Class A shares |
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$ |
0.44 |
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$ |
0.31 |
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$ |
1.18 |
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$ |
0.89 |
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Diluted net income per share of Class A shares |
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$ |
0.44 |
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$ |
0.26 |
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$ |
1.07 |
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$ |
0.70 |
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Weighted-average
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