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Black Stone Minerals: 1Q Earnings Snapshot

Black Stone Minerals: 1Q Earnings Snapshot

Associated Press

HOUSTON (AP) _ Black Stone Minerals LP (BSM) on Monday reported first-quarter net income of $1.9 million.

The Houston-based company said it had net income of 2 cents per share.

The results fell short of 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 $83.8 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $132 million.

Black Stone Minerals shares have climbed 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $18.55, a rise of slightly more than 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 Zacks stock report on BSM at https://www.zacks.com/ap/BSM