Texas Pacific Q2 2024 Earnings Report

Texas Pacific reported strong Q2 2024 results, highlighted by record performance in the water segment and a special cash dividend announcement.

Key Takeaways

Texas Pacific Land Corporation announced strong financial and operating results for the second quarter of 2024, with a record performance from its Water Service and Operations segment. The company reported consolidated revenues of $172.3 million and net income of $114.6 million, or $4.98 per share (diluted). A special cash dividend of $10.00 per share was declared.

Water Service and Operations segment achieved record revenues and net income.

A special cash dividend of $10.00 per share was declared and paid.

Consolidated net income reached $114.6 million, or $4.98 per share (diluted).

Adjusted EBITDA totaled $153.2 million and free cash flow was $116.0 million.