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Edge11 Sep 2026
Texas Pacific Land Corporation: Keeper of the Permian Basin
Land once granted to a failed 19th-century railroad now generates royalties for Texas Pacific Land Corporation across the Permian Basin.
Superior Energy Services
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Superior Energy Services Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary1 Nov, 2024
Executive summary
Q3 2024 results aligned with prior guidance, with net income from continuing operations of $21.9 million ($1.09 per diluted share) on revenue of $197.3 million, down from $29.5 million ($1.46 per share) and $201.1 million in Q2 2024.
Adjusted EBITDA was $57.8 million, compared to $60 million in Q2 2024.
International revenue grew 3% sequentially, while U.S. land and offshore revenues each declined 8% due to lower activity and hurricane disruptions.
New CEO David Lesar joined in August, initiating organizational changes.
Financial highlights
Q3 2024 revenue was $197.3 million, down from $201.1 million in Q2 2024 and $210.4 million in Q3 2023.
Net income from continuing operations was $21.9 million, down from $29.5 million in Q2 2024 and $32.6 million in Q3 2023.
Adjusted EBITDA margin was 29% in Q3 2024, compared to 30% in Q2 2024.
Free cash flow was $50.5 million, up from $39 million in Q2 2024.
Restructuring expenses totaled $9.1 million, mainly from severance and Latin America costs.
Outlook and guidance
Full-year 2024 revenue expected between $780 million and $840 million.
Full-year 2024 adjusted EBITDA projected at $235 million-$265 million.
Free cash flow expected to moderate in Q4 due to higher capital expenditures.
2024 capital expenditures projected at $100-$110 million, with 91% for asset replacement and 68% allocated to the Rentals segment.
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@ankurshah47_ x.com
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Amina0781App Store
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@theshortbearx.com
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