Texas Pacific Land Trust (TPL) Tops Q2 EPS by 3c

Texas Pacific Land Trust (NYSE: TPL) reported Q2 EPS of $7.36, $0.03 better than the analyst estimate of $7.33. Revenue for the quarter came in at $95.9 million versus the consensus estimate of $93.22 million.

“We achieved strong operating results across our core business lines, driven by improved commodity prices and steady development activity throughout the Permian Basin,” said Tyler Glover, President and Chief Executive Officer of the Company. “Having maintained a strong balance sheet during the uncertainty of the last eighteen months, we are now well positioned to capitalize on today’s commodity prices and the highly productive Permian Basin acreage that underpins our royalties. Our high-margin business profile, low capital spending needs, and pristine balance sheet provide us flexibility to choose between multiple capital allocation and investment strategies to provide superior shareholder value creation.”

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

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