Filing Flows › Texas Pacific Land (TPL) › Q2 2026
Texas Pacific Land (TPL) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Texas Pacific Land (TPL) reported revenue of $246M for the second quarter 2026 (Q2 2026), +31% from a year earlier and +4% from the quarter before. Operating margin was 78.0%, net earnings $154M (62.6% of revenue).
Texas Pacific Land, Q2 2026: revenue $246M (+31% year over year), operating margin 78.0%, net earnings $154M, operating cash flow $173M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $246M | +4% | +31% |
| Operating profit | $192M | +5% | +33% |
| Net earnings | $154M | +8% | +33% |
| Operating cash flow | $173M | +7% | +43% |
| Free cash flow | $151M | -2% | +28% |
What changed
Revenue was $246.1M in Q2 2026, up 31% year over year and up 4% from the previous quarter. Oil and gas royalties was the largest line at 59% of revenue. Oil and gas royalties added $50.6M year over year (up 53%), 86% of the total change. Easements and other surface-related income declined 35%.
Operating profit was $191.8M, a 78.0% margin (up 1.3 points year over year). Of the extra revenue versus Q2 2025, 82% reached operating profit, above the 77% margin then. Total costs grew 24% against revenue growth of 31%. The fastest-growing cost line was General & admin (+41%). Net earnings were $153.9M, up 33% year over year. The effective tax rate was 20.5%.
Operating cash flow was $172.9M (up 43% year over year), 112% of net earnings. Non-cash charges added back $16.6M of depreciation and amortization and $4.4M of share-based compensation. Capital expenditures of $21.9M left free cash flow of $151.0M.
Questions
What was Texas Pacific Land's revenue in the second quarter 2026?
Texas Pacific Land (TPL) reported revenue of $246M for the second quarter 2026 (Q2 2026), +31% from a year earlier and +4% from the quarter before.
Was Texas Pacific Land profitable in the second quarter 2026?
Operating profit was $192M (78.0% of revenue) and net earnings $154M.
Source: Texas Pacific Land 10-Q on SEC EDGAR.