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Black Stone Minerals (BSM) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

For the quarter ended December 2023, Black Stone Minerals (BSM) reported revenue of $190.84 million, down 17.2% over the same period last year. EPS came in at $0.65, compared to $0.71 in the year-ago quarter.

The reported revenue represents a surprise of +33.77% over the Zacks Consensus Estimate of $142.67 million. With the consensus EPS estimate being $0.50, the EPS surprise was +30.00%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Black Stone Minerals performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Average daily production: 41.1 millions of barrels of oil equivalent versus the four-analyst average estimate of 39.83 millions of barrels of oil equivalent.

  • Production - Equivalents: 3,784 MBOE compared to the 3,587.77 MBOE average estimate based on three analysts.

  • Average Realized Sale Prices - Natural gas and natural gas liquids: $3.17 versus the two-analyst average estimate of $3.24.

  • Average Realized Sale Prices - Oil and condensate: $78.08 versus $81.23 estimated by two analysts on average.

  • Production - Natural gas: 16,546 MMcf versus the two-analyst average estimate of 15,876.5 MMcf.

  • Production - Oil and condensate: 1,026 MBBL compared to the 985.4 MBBL average estimate based on two analysts.

  • Revenue- Oil and condensate sales: $80.11 million versus the two-analyst average estimate of $81.38 million. The reported number represents a year-over-year change of -6.8%.

  • Revenue- Lease bonus and other income: $3.82 million versus the two-analyst average estimate of $2.63 million. The reported number represents a year-over-year change of +37.1%.

  • Revenue- Natural gas and natural gas liquids sales: $52.44 million versus $52.33 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -52.4% change.

View all Key Company Metrics for Black Stone Minerals here>>>

Shares of Black Stone Minerals have returned -6.5% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

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Zacks Investment Research