Texas Pacific Land tops Q3 profit and revenue estimates
Texas Pacific Land (TPL) earned $2.42 per diluted share in the third quarter, topping the $2.35 consensus estimate, and total revenue of $273.39 million topped the $250.48 million estimate.
Key takeaways
- Texas Pacific Land (TPL) reported third-quarter 2026 net income of $167.4 million, or $2.42 per diluted share, and total revenue of $273.39 million. The results topped consensus estimates of $2.35 per share and $250.48 million in revenue. Revenue rose from $203.1 million a year earlier. The board declared a quarterly dividend of 60 cents per share.
Texas Pacific Land (TPL) topped third-quarter profit and revenue estimates in results released on Nov. 4, 2026. The company reported net income of $167.4 million, or $2.42 per diluted share, against a $2.35 consensus estimate.
Total revenue was $273.39 million, against a $250.48 million estimate. Revenue rose from $203.1 million in the third quarter of 2025, and net income rose from $121.2 million.
Here’s how the company did:
- Diluted EPS: $2.42 vs. $2.35 expected
- Revenue: $273.39 million vs. $250.48 million expected
- Net income: $167.4 million vs. $121.2 million a year earlier
- Adjusted EBITDA: $238.4 million
- Free cash flow: $170.3 million
Said CEO Tyler Glover: “Our third quarter results were the strongest in TPL’s history with new records set across our business.”
Revenue has risen in each of the last three quarters, from $203.1 million in the third quarter of 2025 to $246.1 million in the second quarter of 2026, according to its SEC filings.
Segment results
The Land and Resource Management segment reported revenue of $201.6 million. Oil and gas royalty revenue was $167.3 million, and produced water royalty revenue was $41.4 million.
The company’s share of oil and gas production averaged 42.3 thousand barrels of oil equivalent per day in the quarter. Its average realized price was $44.97 per barrel of oil equivalent.
The Water Services and Operations segment reported revenue of $71.8 million.
Nine-month results
For the nine months ended Sept. 30, 2026, net income was $464.2 million, or $6.73 per diluted share. Total revenue was $756.3 million, up from $586.6 million in the same period of 2025.
Oil and gas production averaged 39.7 thousand barrels of oil equivalent per day for the nine months, compared with 33.6 thousand a year earlier.
Dividend and earnings call
The board declared a quarterly cash dividend of 60 cents per share on Nov. 2, payable on Dec. 15 to stockholders of record at the close of business on Dec. 1.
The company will hold a conference call on Nov. 5, 2026, at 9:30 a.m. Central Time to discuss the results.