Overview

* TexasPacificotalrevenuesfor Q3 were $203.1 mln, compared with $187.5 mln for Q2of2025

* The land and royalty firm reports record quarterly net income for Water Services and Operations segment

* TPL on Nov 3 had approved three-for-one stock split, subject to finalization of effective date

Outlook

* Company expects desalination facility in Orla operational by end of 2025

* Company anticipates double-digit pre-tax cash flow yield from recent acquisitions

Result Drivers

* WATER SERVICES RECORD - Record quarterly revenues in Water Services and Operations segment attributed to past investments and strategic acquisitions

* OIL AND GAS ROYALTY PRODUCTION - Record oil and gas royalty production of 36.3 thousand Boe per day contributed to quarterly results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $203.1 $207 mln

Revenue mln (1

Analyst)

Q3 Net $121.20

Income mln

Q3 $173.60 $178 mln

Adjusted mln (1

EBITDA Analyst)

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

* Wall Street's median 12-month price target for Texas Pacific Land Corp ( TPL ) is $921.93, about 0.8% above its November 4 closing price of $914.43

* The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 40 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)