Black Stone Minerals: Q1 Earnings Snapshot
HOUSTON (AP) _ Black Stone Minerals LP (BSM) on Tuesday reported first-quarter net income of $16.2 million.
On a per-share basis, the Houston-based company said it had profit of 5 cents. Earnings, adjusted for non-recurring costs, were 16 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The partnership that owns mineral and royalty interests posted revenue of $61.6 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $80 million.
Black Stone Minerals shares have risen 55% since the beginning of the year. The stock has risen 81% in the last 12 months.