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TPL 8-K filings in 2024
Every material Form 8-K Texas Pacific Land filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Texas Pacific Land reported third-quarter 2024 results, with total revenue of $173.6 million, up from $172.3 million in the second quarter, while net income fell to $106.6 million from $114.6 million. The company also raised its quarterly cash dividend by 37% to $1.60 per share and posted an updated investor presentation.
Q3 2024 diluted EPS was $4.63, versus $4.98 in Q2 2024; nine-month net income was $335.6 million, up from $292.5 million a year earlier.
Total operating expenses rose to $46.2 million from $39.1 million, mainly due to higher legal and professional fees.
The board declared a quarterly cash dividend of $1.60 per share, up from $1.17, payable December 16, 2024.
Acquisitions in Q3 included northern Delaware Basin mineral interests for $120.3 million and Midland Basin surface acreage for $45.0 million.
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.
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.
Texas Pacific Land reported first-quarter 2024 net income of $114.4 million, or $4.97 per diluted share, and total revenues of $174.1 million, compared with $86.6 million and $146.4 million a year earlier. Both headline measures rose year over year, and operating expenses fell to $38.1 million from $41.4 million. The company also declared a $1.17 per share quarterly dividend and released a produced water desalination presentation ahead of a May 9, 2024 earnings call.
Net income was $114.4 million, or $4.97 per diluted share, versus $86.6 million, or $3.75 per share, in the first quarter of 2023; per-share figures reflect the three-for-one stock split effective March 26, 2024.
Total revenues were $174.1 million, up from $146.4 million a year earlier, with water sales of $37.1 million and total water services and operations revenue of $62.7 million.
Board declared a quarterly cash dividend of $1.17 per share, payable June 17, 2024 to holders of record on June 3, 2024.
Earnings call is scheduled for 7:30 a.m. Central Time on May 9, 2024.
Texas Pacific Land reported fourth-quarter 2023 net income of $113.1 million, or $14.73 per diluted share, up from $99.7 million a year earlier, on revenue of $166.7 million. For the full year, net income fell 9.1% to $405.6 million and revenue decreased $35.8 million, though the board declared a higher quarterly dividend of $3.50 per share.
Q4 2023 revenue was $166.7 million versus $152.7 million in Q4 2022, with Q4 royalty production of 26.3 thousand barrels of oil equivalent per day, the highest quarterly level in company history
Full-year 2023 net income was $405.6 million, or $52.77 per diluted share, versus $446.4 million in 2022; the company said lower commodity prices were partly offset by water and surface income growth
Board declared a quarterly cash dividend of $3.50 per share on February 13, 2024, payable March 15, 2024 to holders of record on March 1, 2024
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Texas Pacific Land filing is on SEC EDGAR ↗. 8-K briefs of other companies →