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HOUSTON (AP) — HOUSTON (AP) — Black Stone Minerals LP (BSM) on Monday reported first-quarter net income of $134.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Houston-based company said it had net income of 60 cents. Earnings, adjusted for non-recurring gains, came to 46 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 46 cents per share.
The partnership that owns mineral and royalty interests posted revenue of $174.6 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $138.7 million.
Black Stone Minerals shares have declined roughly 2% since the beginning of the year. In the final minutes of trading on Monday, shares hit $16.55, a climb of 4.5% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a BSM">Zacks stock report on BSM at https://www.zacks.com/ap/BSM