tiprankstipranks
Texas Pacific Land Corporation Reports Strong Earnings
Company Announcements

Texas Pacific Land Corporation Reports Strong Earnings

Texas Pacific Land Trust ( (TPL) ) has released its Q3 earnings. Here is a breakdown of the information Texas Pacific Land Trust presented to its investors.

Don't Miss our Black Friday Offers:

Texas Pacific Land Corporation, one of the largest landowners in Texas, primarily operates in the Permian Basin, focusing on oil and gas royalties, water sales, and land management. The company has reported its latest quarterly earnings for the period ending September 30, 2024, showing a continued strong performance in key revenue streams. Texas Pacific Land Corporation’s latest earnings report highlights a significant increase in revenues across various segments. Oil and gas royalties climbed to $94.4 million for the quarter, while water sales and produced water royalties also saw substantial increases, contributing to total revenues of $173.6 million, up from $158 million in the same quarter last year. Despite an increase in operating expenses, the company maintained its strong net income performance at $106.6 million, slightly up from $105.6 million in the previous year. The company’s strategic acquisitions and investments in the Permian Basin reflect its ongoing commitment to expanding its market presence. Notably, Texas Pacific Land acquired significant acreage and royalty interests, which are expected to enhance future revenue streams. Additionally, a three-for-one stock split was executed, aiming to improve share liquidity. Looking forward, Texas Pacific Land Corporation remains optimistic about its growth prospects, with management focusing on leveraging its expansive land and resource base to maximize shareholder value and sustain its strong financial performance.

Related Articles
TheFlyClosing Bell Movers: Gap jumps 15% after Q3 earnings beat, guidance raise
TheFlyTexas Pacific Land to replace Marathon Oil in S&P 500 at open on 11/26
TheFlyMueller Industries to replace Texas Pacific Land in S&P 400 at open on 11/26
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App