Filing Flows › Texas Pacific Land (TPL) › Q3 2026 › vs Q2 2026
Texas Pacific Land (TPL) Q3 2026 vs Q2 2026 (quarter over quarter)
Texas Pacific Land's revenue rose $27.3M (+11%) from $246M in Q2 2026 to $273M in Q3 2026. The biggest changes: Oil and gas royalties +$21.7M (+15%); Easements and other surface-related income +$12.5M (+53%); Water sales −$11.3M (-28%). Operating margin 76.0% against 78.0% (-2.0 pts).
Texas Pacific Land, Q3 2026: revenue $273M (+35% year over year), operating margin 76.0%, net earnings $167M, operating cash flow $192M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 76.0% | 78.0% | -2.0 pts |
| Net margin | 61.2% | 62.6% | -1.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Oil and gas royalties | $167M | $146M | $21.7M | +15% |
| Produced water royalties | $41.4M | $37.1M | $4.3M | +12% |
| Easements and other surface-related income | $36.2M | $23.7M | $12.5M | +53% |
| Water sales | $28.4M | $39.7M | −$11.3M | -28% |
| Revenue | $273M | $246M | $27.3M | +11% |
| Other income, net | $2.6M | $1.9M | $728K | +39% |
| Operating profit | $208M | $192M | $16.0M | +8% |
| Costs & expenses | $65.6M | $54.2M | $11.4M | +21% |
| Pre-tax earnings | $210M | $194M | $16.7M | +9% |
| General & admin | $10.6M | $8.0M | $2.6M | +32% |
| Other operating costs | $55.0M | $46.2M | $8.8M | +19% |
| Net earnings | $167M | $154M | $13.4M | +9% |
| Income tax | $43.0M | $39.8M | $3.3M | +8% |
| Depreciation & amortization | $22.8M | $16.6M | $6.2M | +37% |
| Share-based compensation | $4.2M | $4.4M | −$220K | -5% |
| Working capital & other | $2.0M | $2.1M | −$122K | -6% |
| Operating cash flow | $192M | $173M | $19.5M | +11% |
Questions
How much did Texas Pacific Land's revenue grow quarter over quarter in Q3 2026?
Texas Pacific Land's revenue rose $27.3M (+11%) from $246M in Q2 2026 to $273M in Q3 2026.
What drove Texas Pacific Land's revenue change in Q3 2026?
Oil and gas royalties +$21.7M (+15%); Easements and other surface-related income +$12.5M (+53%); Water sales −$11.3M (-28%).