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Earnings analysis · 10-Q

TPL earnings analysis

Filed May 6, 2026 · Our reading of the company's report

The latest report

Texas Pacific Land Corporation's Q1 2026 results showed total revenues of $236.8 million and a diluted EPS of $2.07, exceeding the consensus estimates slightly. The revenues and net income were up by 20.2% and 18.5%…

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Texas Pacific Land Corporation's Q1 2026 results showed total revenues of $236.8 million and a diluted EPS of $2.07, exceeding the consensus estimates slightly. The revenues and net income were up by 20.2% and 18.5% respectively compared to the same quarter last year, driven mainly by increased oil and gas royalties and a notable rise in water sales revenue.

Read the original on SEC.gov

Reported figures

Earnings per share
$2.07
Segment
Land and Resource Management
Segment
Water Services and Operations

What stood out

  • Strong Revenue Growth

    Total revenues reached $236.8 million, a 20.2% increase from $196.0 million in Q1 2025.

  • Increased EPS

    Diluted EPS stood at $2.07, up from $1.76 in Q1 2025.

  • Higher Free Cash Flow

    Free cash flow was $136.4 million compared to $126.6 million in the prior year.

  • Growth in Oil Royalties

    Oil and gas royalty revenue of $118.2 million, a 6.2% increase year-over-year.

  • Water Sales Surge

    Water sales revenue increased to $46.9 million, up $8.1 million from Q1 2025.

  • Land Sale Revenue

    Recognized $20.9 million from a land sale in the quarter, contributing to overall revenue.

What to watch

  • Increased Operating Expenses

    Total operating expenses rose to $54.5 million from $45.9 million year-over-year.

  • Commodity Price Volatility

    Risks related to fluctuating oil prices as average realized prices decreased by 10.9% to $37.06 per Boe.

  • Water Service Expense Growth

    Water service-related expenses surged to $14.3 million, an increase of $3.2 million year-over-year.

Management's outlook

Outlook deferred to earnings press release / call.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.