West Texas landowner Texas Pacific Land (NYSE: TPL) will be reporting results this Wednesday after the bell. Here’s what to expect.
Texas Pacific Land missed analysts’ revenue expectations last quarter, reporting revenues of $246.1 million, up 31.2% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates.
Is Texas Pacific Land a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Texas Pacific Land’s revenue to grow 28.8% year on year, improving from the 17% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Texas Pacific Land has missed Wall Street’s revenue estimates multiple times since going public.
Looking at Texas Pacific Land’s peers in the u.s. shale e&p segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Crescent Energy delivered year-on-year revenue growth of 55.9%, beating analysts’ expectations by 3.5%, and Cactus reported revenues up 63.2%, in line with consensus estimates. Cactus traded up 1.8% following the results.
Read our full analysis of Crescent Energy’s results here and Cactus’s results here.
Investors in the u.s. shale e&p segment have had steady hands going into earnings, with share prices flat over the last month. Texas Pacific Land is down 4.8% during the same time and is heading into earnings with an average analyst price target of $443 (compared to the current share price of $328.29).
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