Texas Pacific Land Q2 net income $114.6 million, $4.98 a share; water segment record
Texas Pacific Land reported second-quarter 2024 net income of $114.6 million, or $4.98 per diluted share, and consolidated revenues of $172.3 million, with the water services and operations segment posting record results. The company also set a target cash balance of about $700 million and said it will direct most free cash flow above that level to share repurchases and dividends, which bears directly on how shareholders receive cash.
Key points
- Q2 2024 net income was $114.6 million ($4.98 diluted per share), compared with $114.4 million in Q1 2024.
- Consolidated revenues were $172.3 million, down from $174.1 million in Q1 2024.
- Water segment: water sales of $40.7 million, produced water royalties of $25.3 million, and segment net income of $34.5 million.
- Target cash balance of about $700 million; a $10.00 special dividend was declared and paid on July 15, 2024.
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 07, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.