Texas Pacific Q4 2023 Earnings Report
Key Takeaways
Texas Pacific Land Corporation reported a net income of $113.1 million and revenues of $166.7 million for Q4 2023. The company's royalty production reached a record high, and both total consolidated revenues and free cash flow were the highest of any quarter in 2023.
Net income for Q4 2023 was $113.1 million, or $14.73 per share (diluted).
Revenues for Q4 2023 totaled $166.7 million.
Adjusted EBITDA for Q4 2023 reached $150.9 million.
Royalty production hit a record high of 26.3 thousand barrels of oil equivalent per day.
Texas Pacific
Texas Pacific
Texas Pacific Revenue by Segment
Forward Guidance
TPL anticipates strong activity on its royalty and surface acreage in 2024 and is well-positioned to seize opportunities for value-added growth and shareholder return of capital.
Positive Outlook
- Strong activity on royalty and surface acreage expected to continue.
- Unmatched Permian asset footprint.
- High free cash flow margins.
- Resilient business mix.
- Large net cash balance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income