TPL · 10-Q · 2026Q2 · Full report

Operating Income and Margins

Texas Pacific Land Corp · 2026-08-05 · Importance 64 · Surprise 56 · No source text

Six-month operating income increased 27.3% to $374.1 million from $293.8 million, and second-quarter operating income increased 33.4% to $191.8 million from $143.8 million. The consolidated six-month operating margin increased to approximately 77.5% from 76.6%, while the second-quarter margin increased to approximately 78.0% from 76.7%. Land and Resource Management generated six-month operating income of $265.1 million on $317.4 million of revenue, and Water Services and Operations generated $109.1 million on $165.5 million of revenue. Net income increased 25.4% to $296.8 million for the six months and 32.5% to $153.9 million for the quarter, supported by higher royalty, water sales, and produced water royalty revenue.

Key facts

• Three months ended June 30, 2026 consolidated operating income was $191.8 million compared to $143.8 million for three months ended June 30, 2025. source
• Net income was $153.9 million for three months ended June 30, 2026 and $116.1 million for three months ended June 30, 2025. source
• Six months ended June 30, 2026 consolidated operating income was $374.1 million compared to $293.8 million for six months ended June 30, 2025. source
• Net income was $296.8 million for six months ended June 30, 2026 and $236.8 million for six months ended June 30, 2025. source
• EBITDA was $211.3 million for three months ended June 30, 2026 and $162.7 million for three months ended June 30, 2025; Adjusted EBITDA was $215.6 million for three months ended June 30, 2026 and $166.2 million for three months ended June 30, 2025. source
• EBITDA was $409.9 million for six months ended June 30, 2026 and $329.0 million for six months ended June 30, 2025; Adjusted EBITDA was $397.0 million for six months ended June 30, 2026 and $335.6 million for six months ended June 30, 2025. source

Impact estimates