TPL Q2 net income $114.6M, record water segment revenue $68.3M; special dividend $10/share paid

Texas Pacific Land Corp

2024-Q2 EPS reported $9.95 revenue$346,476,000

Q2 net income $114.6M ($4.98 diluted EPS) on revenues of $172.3M; Adj. EBITDA $153.2M, FCF $116.0M.
Water segment records: sales $40.7M, produced water royalties $25.3M, total revenue $68.3M, segment net income $34.5M.
Special cash dividend of $10.00/share paid July 15, 2024; quarterly dividend $1.17/share declared payable Sept 17.
Target cash ~$700M; above that, deploy majority of FCF to share repurchases and dividends.
Developed produced water desalination pilot; scaling to 10,000 bbls/day test facility.

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