Black Stone Minerals: 3Q Earnings Snapshot
HOUSTON (AP) _ Black Stone Minerals LP (BSM) on Monday reported third-quarter net income of $29.2 million.
On a per-share basis, the Houston-based company said it had net income of 27 cents.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The partnership that owns mineral and royalty interests posted revenue of $139.7 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $131.9 million.
Black Stone Minerals shares have declined slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $16.98, a drop of 7 percent in the last 12 months.