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.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
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.
