secwatch.observer — SEC 8-K summary
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Issuer:     Texas Pacific Land Corp (TPL)
CIK:        0001811074
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001811074-24-000047
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1811074/000181107424000047/0001811074-24-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1811074/000181107424000047/tpl-20240807.htm
  HTML page:      https://secwatch.observer/filing/0001811074-24-000047

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