TPL earnings date and guidance
MyStockButler's October 2026 analysis: TPL's next results are expected on November 4, 2026. Watch whether Orla moves from commissioning to sustained operation.
What has TPL guided for 2026?
TPL reaffirmed its 2026 capex guidance on August 6. The second-half plan includes studies of cooling and waste-heat recovery at Orla. These studies ask whether desalination and computing facilities can share infrastructure, such as chilled water or recovered heat. They test the economics; they do not yet represent established savings.
| Period guided | |
|---|---|
| Capital expenditures | Year to Dec 2026 |
Did TPL keep its past promises?
TPL missed one visible promise. Its 2025 objectives called for the Phase 2B desalination project to reach 65% operating capacity, but construction paused for equipment testing. The strategic category covered other goals, including safety, emissions, water-disposal growth, technology and capital returns. The committee scored that category at 120%, and bonuses were earned at 123% of target. That does not prove the payout was wrong; it shows why weighting and board judgment matter. By August 2026, Orla construction was complete and commissioning had begun, which is progress but not yet proof of reliable commercial performance.
What is TPL's revenue and profit trend over the last eight quarters?
Revenue, operating income, net income and diluted EPS all rose by roughly one-third from the year-earlier quarter. Cash from operations also increased, and capital spending remained substantial. The improvement therefore reached both earnings and cash rather than appearing only in EPS.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 246,059 | 236,818 | 211,579 | 203,085 | 187,543 | 195,983 | 185,784 | 173,563 |
| Operating income | 191,817 | 182,328 | 149,246 | 149,091 | 143,751 | 150,073 | 142,544 | 127,331 |
| Net income | 153,930 | 142,902 | 123,346 | 121,238 | 116,140 | 120,652 | 118,360 | 106,594 |
| EPS, diluted | 2.23 | 2.07 | 1.79 | 1.76 | 1.68 | 1.75 | 1.71 | 1.54 |
| Cash from operations | 172,859 | 162,008 | 113,672 | 154,612 | 120,900 | 156,726 | 126,576 | 118,563 |
| − Capital spending | 21,853 | 7,348 | 28,653 | 18,601 | 3,311 | 8,966 | 13,245 | 7,829 |
What this means. The cash-flow numbers for later quarters are calculated by subtracting earlier year-to-date totals, so they show that quarter alone rather than the whole year.
What should people watch in TPL's next results?
The next evidence must show operating performance, signed commitments and the cost of unresolved obligations. TPL will report third-quarter results after the market closes on November 4, 2026, followed by its call on November 5. Investors can then compare actual spending with the annual plan and ask whether Orla has moved from commissioning to sustained operation.
Useful evidence would include throughput, downtime, treatment costs and permission to use the treated water. For the commercial roadmap, equipment orders matter more than another expression of interest because an order turns an opportunity into an obligation. Customer contracts and a capital budget would show whether that obligation has an economic foundation.