TPL Q2 net income falls to $100.4M from $118.9M; royalty production hits record 24.9K boe/d

Texas Pacific Land Corp

2023-Q2 EPS reported $24.30 revenue$306,971,000

Net income $100.4M ($13.06 basic EPS), revenue $160.6M; prior Q2 net income $118.9M, revenue $176.3M.
Royalty production record 24.9K boe/d (up 26% YoY); avg realized price $38.04/Boe, down 45.9% from $70.36.
Water sales & produced water royalties up $17.5M; easements & surface income up $4.7M; total op expenses $40.3M (+$15.8M).
Board declared $3.25/share dividend payable Sept 15; $19.5M in Q2 stock repurchases.
Six-month net income $187.0M (down 13.8% YoY); includes $8.7M arbitration stipulation for royalty underpayment.

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 1.0

Texas Pacific Land Corp reported six months ended June 30, 2023 results: revenue Revenues of $307.0 million, net income Net income of $187.0 million, EPS $24.31 per share (basic) and $24.30 per share (diluted).

Period: six months ended June 30, 2023
Revenue: Revenues of $307.0 million
Net income: Net income of $187.0 million
EPS: $24.31 per share (basic) and $24.30 per share (diluted)
Result: reported results

Exact text from the filing

Six Months Ended June 30, 2023 Highlights • Net income of $187.0 million, or $24.31 per share (basic) and $24.30 per share (diluted) • Revenues of $307.0 million

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Texas Pacific Land Corp reported second quarter of 2023 results: revenue Revenues of $160.6 million, net income Net income of $100.4 million, EPS $13.06 per share (basic) and $13.05 per share (diluted).

Period: second quarter of 2023
Revenue: Revenues of $160.6 million
Net income: Net income of $100.4 million
EPS: $13.06 per share (basic) and $13.05 per share (diluted)
Result: reported results

Exact text from the filing

Texas Pacific Land Corporation (NYSE: TPL) (the “Company” or "TPL") today announced its financial and operating results for the second quarter of 2023. Second Quarter 2023 Highlights • Net income of $100.4 million, or $13.06 per share (basic) and $13.05 per share (diluted) • Revenues of $160.6 million

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Source: SEC EDGAR

accession 0001811074-23-000039

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