Texas Pacific Land Q1 net income $86.6M ($11.25 EPS) vs $97.9M prior year; revenues $146.4M

Texas Pacific Land Corp

2023-Q1 EPS reported $11.24 revenue$146,362,000

Net income $86.6M (EPS $11.25 basic, $11.24 diluted) down from $97.9M in Q1 2022.
Revenues $146.4M, down slightly from $147.3M; oil & gas royalties $89.1M including $8.7M arbitration stipulation.
Average realized price fell 23.2% to $44.76/Boe; production steady at 20.9 MBoe/d.
Operating expenses rose $18.4M to $41.4M driven by higher legal and professional fees.
Quarterly dividend $3.25/share declared, payable June 15, 2023; $6.7M in stock repurchases during Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Texas Pacific Land Corp reported the first quarter of 2023 results: revenue $146.4 million, net income $86.6 million, EPS $11.25 per share (basic) and $11.24 per share (diluted).

Period: the first quarter of 2023
Revenue: $146.4 million
Net income: $86.6 million
EPS: $11.25 per share (basic) and $11.24 per share (diluted)
Result: reported results

Exact text from the filing

results for the first quarter of 2023. First Quarter 2023 Highlights • Net income of $86.6 million, or $11.25 per share (basic) and $11.24 per share (diluted) • Revenues of $146.4 million • Adjusted EBITDA (1) of $115.9 million • Free cash flow (1) of $88.0 million • Royalty production of 20.9 thousand barrels of oil equivalent per day • $6.7 million of common

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Source: SEC EDGAR

accession 0001811074-23-000023

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