NYSE$TPL
Texas Pacific Land Corporation · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Texas Pacific Land Corporation announced strong Q4 2023 results driven by robust oil and gas royalty production and continued growth of water and surface businesses.
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.
Headline financials
Revenue & EPS history
Texas Pacific · Revenue · Quarterly
$167M
Revenue by segment
Texas Pacific · $153M total across 4 segments · Q3 2023
- Oil and Gas Royalties$87.1M-33.2%57.1%
- Water Sales$26.4M+8.2%17.3%
- Produced Water Royalties$20.8M+9.0%13.7%
- Easements and Other Surface-Related Income$18.2M+28.7%11.9%
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.
Tailwinds
- 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.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+1.2%
Avg return
Earnings day
+3.1%
Avg return
5 days after
+4.6%
Avg return
30 days after
64%
41 / 64 earnings
Positive
+10.2%
Q3 2025
Best reaction
-10.1%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | -7.8% | -7.2% | |
| Q4 2025 | +10.0% | +20.7% | +17.9% | |
| Q3 2025 | +10.2% | +7.6% | +0.7% | |
| Q1 2025 | -3.8% | +2.6% | -17.1% | |
| Q4 2024 | +1.9% | -8.2% | -9.4% | |
| Q3 2024 | +7.4% | +12.6% | +7.7% | |
| Q2 2024 | +7.1% | +7.7% | +3.3% | |
| Q1 2024 | +8.0% | +6.2% | +2.2% | |
| Q4 2023 | +4.9% | +4.6% | +13.1% | |
| Q3 2023 | -2.6% | -4.7% | -5.4% | |
| Q2 2023 | +8.5% | +17.5% | +28.5% | |
| Q1 2023 | -3.8% | -2.5% | -4.5% | |
| Q4 2022 | -1.7% | -1.1% | -8.3% | |
| Q3 2022 | +2.3% | +15.9% | +11.0% | |
| Q2 2022 | -9.9% | -6.1% | +3.6% | |
| Q1 2022 | +1.7% | -6.0% | +21.6% | |
| Q4 2021 | +9.9% | +19.0% | +45.6% | |
| Q3 2021 | +7.3% | +11.6% | -5.4% | |
| Q2 2021 | +2.3% | +4.1% | -10.4% | |
| Q1 2021 | +3.0% | +1.5% | -12.7% | |
| Q4 2020 | -3.5% | -4.0% | +38.0% | |
| Q3 2020 | +7.5% | +10.5% | +37.7% | |
| Q2 2020 | -5.2% | +0.4% | -5.4% | |
| Q1 2020 | -9.2% | -7.8% | +4.7% | |
| Q4 2019 | +1.8% | +5.1% | -6.2% | |
| Q3 2019 | +6.0% | +10.8% | +14.2% | |
| Q2 2019 | -4.3% | -8.5% | -13.8% | |
| Q1 2019 | -5.8% | -10.4% | -12.5% | |
| Q4 2018 | +1.4% | +4.8% | +8.4% | |
| Q3 2018 | -5.6% | -5.5% | -18.4% | |
| Q2 2018 | +7.8% | +8.9% | +13.0% | |
| Q1 2018 | +8.9% | +15.8% | +27.7% | |
| Q4 2017 | -1.9% | -7.2% | -3.6% | |
| Q3 2017 | +2.8% | +4.3% | +1.9% | |
| Q2 2017 | +4.4% | +9.8% | +20.0% | |
| Q1 2017 | +5.8% | +6.2% | -0.3% | |
| Q4 2016 | +0.2% | -0.4% | -6.8% | |
| Q3 2016 | -6.4% | -7.6% | +1.2% | |
| Q2 2016 | -2.0% | -0.6% | +6.4% | |
| Q1 2016 | -3.1% | — | — | |
| Q4 2015 | +0.7% | — | — | |
| Q3 2015 | +0.9% | — | — | |
| Q2 2015 | +0.9% | — | — | |
| Q1 2015 | -0.0% | — | — | |
| Q4 2014 | +2.0% | — | — | |
| Q3 2014 | -0.8% | — | — | |
| Q2 2014 | -1.2% | — | — | |
| Q1 2014 | +3.1% | — | — | |
| Q4 2013 | +1.9% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | -1.4% | — | — | |
| Q1 2013 | +2.3% | — | — | |
| Q4 2012 | +1.1% | — | — | |
| Q3 2012 | +2.4% | — | — | |
| Q2 2012 | +2.3% | — | — | |
| Q1 2012 | +4.5% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | +6.5% | — | — | |
| Q2 2011 | -10.1% | — | — | |
| Q1 2011 | +0.8% | — | — | |
| Q4 2010 | -2.7% | — | — | |
| Q3 2010 | +1.6% | — | — | |
| Q2 2010 | +1.6% | — | — | |
| Q1 2010 | -2.6% | — | — |
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