TPL · 10-Q · 2026Q3 · Full report
Adjusted EBITDA Performance
Texas Pacific Land Corp · 2026-11-04 · Importance 64 · Surprise 56 · From source text
Third-quarter 2026 EBITDA was $234.2 million, up 37.6% from $170.1 million in the third quarter of 2025. Adjusted EBITDA rose 37.3% to $238.4 million from $173.6 million, including employee share-based compensation of $4.2 million versus $3.5 million. For the first nine months of 2026, Adjusted EBITDA increased 24.8% to $635.4 million from $509.2 million; the 2026 amount included a $20.9 million deduction for a land sale with a financing arrangement.
Key facts
- Three months ended September 30, 2026, Adjusted EBITDA was $238.374 million, compared with $173.635 million in 2025. source
- Nine months ended September 30, 2026, Adjusted EBITDA was $635.360 million, compared with $509.228 million in 2025. source
- Three months ended September 30, 2026, EBITDA was $234.206 million, compared with $170.142 million in 2025. source
- Nine months ended September 30, 2026, EBITDA was $644.115 million, compared with $499.167 million in 2025. source
- The compensation committee uses Adjusted EBITDA to evaluate performance in determining annual short- and long-term incentive compensation for executive officers. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +53.0% | Nine months ended September 30, 2026, EBITDA was $644.115 million, compared with $499.167 million in 2025. |
| operating_income | positive | realized | +46.1% | Nine months ended September 30, 2026, Adjusted EBITDA was $635.360 million, compared with $509.228 million in 2025. |
| operating_income | positive | realized | +23.7% | Three months ended September 30, 2026, Adjusted EBITDA was $238.374 million, compared with $173.635 million in 2025. |