Texas Pacific Land Trust (NYSE: TPL) reported Q1 EPS of $6.45, $0.68 better than the analyst estimate of $5.77. Revenue for the quarter came in at $84.2 million versus the consensus estimate of $75.22 million.

“We are very pleased with our first quarter results, which demonstrate continued strong momentum across our business lines. Having successfully navigated the challenges of COVID-19 while achieving consistently positive operating results, we were, and continue to be, well positioned to take full advantage of the oil and gas recovery that is taking place. This was also a landmark quarter in our Company’s history as we completed our reorganization from a trust to a corporation. We feel this enhanced structure is better suited for today’s corporate governance landscape and provides superior alignment of management and shareholder interests,” said Tyler Glover, President and Chief Executive Officer of the Company.

“Looking ahead, we now remain fully focused on developing our many avenues for growth across our diversified platform by continuing to refine our operations, grow our customer base, and leverage potential outside growth opportunities. Our vast and largely undeveloped surface and royalty acreage provides us with an exceptionally robust runway for long-term value creation, and with our fortress balance sheet, stable cash flows, and low capital requirements we believe we can achieve sustained growth for many years to come,” Mr. Glover continued.

For earnings history and earnings-related data on Texas Pacific Land Trust (TPL) click here.