Black Stone Minerals: 2Q Earnings Snapshot
HOUSTON (AP) _ Black Stone Minerals LP (BSM) on Monday reported second-quarter earnings of $17.5 million.
On a per-share basis, the Houston-based company said it had net income of 17 cents.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The partnership that owns mineral and royalty interests posted revenue of $109.3 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $123 million.
Black Stone Minerals shares have decreased 2 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.55, a climb of slightly more than 7 percent in the last 12 months.