Texas Pacific Land 8-K Report, Financial Results (Nov 5, 2025)

Texas Pacific Land Corporation reported third-quarter 2025 results on November 5, 2025, with record quarterly revenues and net income from its Water Services and Operations segment.

Consolidated net income for the three months ended September 30, 2025 was $121.2 million^a, or $5.27 per diluted share, on total revenues of $203.1 million, compared with $116.1 million of net income in the second quarter of 2025. Adjusted EBITDA was $173.6 million and free cash flow was $122.9 million. Water Services and Operations segment revenues were $80.8 million, a company record, while Land and Resource Management segment revenues were $122.3 million.

Oil and gas royalty production averaged 36.3 thousand Boe per day, also a quarterly record. The company made significant acquisitions. It closed the purchase of approximately 17,306 net royalty acres, primarily in the Midland Basin, on November 3, 2025 for an aggregate price of $474.1 million^b in cash, and acquired about 8,147 surface acres in Martin County, Texas in September 2025.

The two acquisitions had a combined aggregate purchase price of $505 million^c. The company also entered a new $500 million unsecured revolving credit facility on October 23, 2025, which remained undrawn as of November 5, 2025. The Board approved a three-for-one stock split, expected to be completed in December 2025 subject to finalization of the effective date, and declared a quarterly dividend of $1.60 per share payable December 15, 2025.

The filing also includes an updated November 2025 investor presentation, which references a video of CEO Tyler Glover and reports that the company had no debt and $531.8 million^d of cash and cash equivalents as of September 30, 2025. Management stated that the business model is designed to succeed through the commodity cycle without hedging.