Texas Pacific Land: record $273.4 million Q3 2026 revenue, net income up 38.0%
Texas Pacific Land just posted its best quarter on record: $273.4 million of revenue, $167.4 million of net income and $2.42 per diluted share, each above the second quarter. The driver was volume and mix — production, gas realizations and easements — not oil prices, which fell. Below, the sequential math, the cost lines and a balance sheet with $1.80 billion of equity against $185.9 million of total liabilities.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $2.42 compares with $2.23 last quarter, and $6.73 for the nine months versus $5.19 a year earlier. Net income equalled 61.2% of revenue, with income tax of $43.0 million taking 20.4% of the $210.4 million pre-tax profit. The diluted share count is 69.0 million and barely moves, so per-share results track net income almost one-for-one.
Revenue of $273.4 million rose 11.1% from $246.1 million in the second quarter, and nine-month revenue reached $756.3 million versus $586.6 million a year earlier, up 28.9%. The sequential gain came from oil and gas royalties (+$21.7 million), easements (+$12.5 million) and produced water royalties (+$4.3 million), partly offset by an $11.3 million drop in water sales. Volumes rose to 42.3 thousand Boe/d from 39.7 while the average realized price went from $42.17 to $44.97 per Boe.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-04
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