Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/97517/000143774918003528/tpl20171231_10k.htm
Exhibit 99.1
TEXAS PACIFIC LAND TRUST
1700 Pacific Avenue
Suite 2770
Dallas, Texas 75201
______
TRUSTEES: | OFFICERS: | |
MAURICE MEYER III | Telephone (214) 969-5530 | TYLER GLOVER |
JOHN R. NORRIS III | ROBERT J. PACKER | |
DAVID E. BARRY |
Texas Pacific Land Trust Announces Fourth Quarter 2017 Financial Results
DALLAS, TX (January 31, 2018) – Texas Pacific Land Trust (NYSE: TPL) today announced financial results for the fourth quarter and year end of fiscal 2017, which ended December 31, 2017.
Results for fourth quarter 2017:
● |
Net income of $18.4 million, or $2.35 per sub-share, for fourth quarter 2017, compared with $10.9 million, or $1.37 per sub-share, for fourth quarter 2016. |
|
● | Revenues of $38.3 million for fourth quarter 2017, compared with $17.6 million for fourth quarter 2016. | |
● | Increases of 324.4% in easements and sundry income, 171.8% in water sales and royalty revenue, and 76.8% in oil and gas royalty revenue for fourth quarter 2017, compared with fourth quarter 2016. |
Results for the year ended December 31, 2017:
● |
Net income of $76.4 million, or $9.72 per sub-share, for the year ended December 31, 2017, compared with $37.2 million, or $4.66 per sub-share, for the year ended December 31, 2016. |
|
● | Revenues of $132.4 million for the year ended December 31, 2017, compared with $59.9 million for the year ended December 31, 2016. | |
● | Increases of 214.3% in water sales and royalty revenue, 144.0% in easements and sundry income, and 104.4% in oil and gas royalty revenue for the year ended December 31, 2017, compared with the year ended December 31, 2016. |
Further Details for fourth quarter 2017:
Easements and sundry income was $16.2 million for the fourth quarter of 2017, an increase of 324.4% compared with the fourth quarter of 2016 when easements and sundry income was $3.8 million. This increase resulted primarily from increases in pipeline easement income, material sales, temporary permit income and, to a lesser extent, sundry lease rental income. Pipeline easement income increased 139.8% to $8.3 million (before deferral of term easements) for the fourth quarter of 2017 compared to the fourth quarter of 2016. Material sales increased 928.0% to $3.5 million for the fourth quarter of 2017 compared to the fourth quarter of 2016.
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Texas Pacific Land Trust.
Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/97517/000143774918003528/tpl20171231_10k.htm
Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.
ContinueRead positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.
ContinueRemove data columns and navigations in order to see much more filing content and tables in one view
ContinueRead both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q
ContinueExport Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis
ContinueGet one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports
Continue for FREEOur Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not
ContinueOur Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity
ContinueSee how over 70
Growth, Profitability and Financial Ratios perform over 10 Years