| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 246.06 | 3.9% | 31.2% |
| Total Income | 246.06 | 3.9% | 31.2% |
| Expenditure | 54.24 | 0.5% | 23.9% |
| PBT | 193.70 | 5.5% | 30.0% |
| Net Profit | 153.93 | 7.7% | 32.5% |
| OPM | 77.96% | 0.97pp | 1.31pp |
| NPM | 62.56% | 2.21pp | 0.63pp |
| EPS | 2.23 | 7.7% | 55.8% |
Texas Pacific Land Corporation Announces Record Second Quarter Results
06 Aug 2026 · 6 Aug, 1:53 am
Summary
Texas Pacific Land Corporation announced record-breaking results for the second quarter of 2026, highlighted by record consolidated net income and free cash flow. Consolidated revenues increased to $246.1 million, supported by strong oil and gas royalty production and produced water royalty volumes. The company reported a net income of $153.9 million, or $2.23 per diluted share, and a record Adjusted EBITDA of $215.6 million. Management noted the unhedged commodity position allowed them to capture elevated oil prices and highlighted significant milestones in their key growth initiatives, including Project Kilby and expansion into new land acquisitions.
Key Highlights
- 1
Texas Pacific Land Corporation achieved record consolidated net income and free cash flow in the second quarter of 2026.
- 2
Consolidated revenues reached $246.1 million for the second quarter of 2026, driven by strong performance in oil and gas royalties and produced water royalties.
- 3
The company reported a consolidated net income of $153.9 million, or $2.23 per share (diluted), for Q2 2026.
- 4
Adjusted EBITDA for the second quarter of 2026 was a record $215.6 million.
- 5
Free cash flow for Q2 2026 was a record $155.5 million.
- 6
The Land and Resource Management segment generated $163.9 million in revenues for Q2 2026.
- 7
Water Services and Operations segment revenues were $82.2 million for the second quarter of 2026.
Management Comments
Tyler Glover
This quarter, we delivered record results across major financial and operating metrics and achieved significant milestones within our key growth initiatives. TPL generated record revenue, net income, and free cash flow this quarter, supported by record oil and gas royalty daily production and produced water royalty volumes. Our unhedged commodity position allowed us to capture the full upside of this quarter’s elevated oil prices. We also disclosed our involvement with Project Kilby, a multi-gigawatt power generation and data center hub located in Reeves County. As part of that development, TPL is providing land and water resources. In addition, we acquired land in Shackelford and Jones Counties, Texas as we expand our data center and power generation efforts to areas beyond the immediate Permian Basin. Furthermore, we have completed construction and begun commissioning on our 10,000 barrel per day produced water desalination test facility in Orla, Texas. Our produced water desalination efforts represent a proprietary potential sustainable solution to mitigate produced water injection demands, while also providing numerous commercial opportunities to utilize the high-spec freshwater and concentrated brine output streams.
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