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Operating Income by Segment
Measures the profit generated by each segment from core operations before financing and taxes, highlighting efficiency and cost structure across royalty collection, land transactions, and services. Useful for assessing which parts of the business drive operational strength and which are burdened by higher costs.Land & Resource Management shows pronounced volatility with a sharp latest-quarter jump driven by stronger production and commodity realizations plus contribution from a structured land monetization; because TPL is unhedged, upside is direct but earnings will remain cyclical. Water Services has stepped up as desal testing and near-record water volumes boost throughput, yet quarter-to-quarter lumpiness and accrual timing persist. Bottom line: monetizations and desal scaling can materially lift income, but execution, partner funding and commodity exposure are the main upside drivers and risks.
Date | Land & Resource Management | Water Services & Operations |
|---|---|---|
Jun 30, 2026 | $136.30M | $55.52M |
Mar 31, 2026 | $128.78M | $53.55M |
Dec 31, 2025 | $83.13M | $66.11M |
Sep 30, 2025 | $98.47M | $50.62M |
Jun 30, 2025 | $106.82M | $36.93M |
Mar 31, 2025 | $105.99M | $44.09M |
Dec 31, 2024 | $98.16M | $44.39M |
Sep 30, 2024 | $84.78M | $42.55M |
Jun 30, 2024 | $91.31M | $41.91M |
Mar 31, 2024 | $95.30M | $40.74M |