HOUSTON — Black Stone Minerals LP (BSM) on Monday reported second-quarter net income of $15.4 million, after reporting a loss in the same period a year earlier.
The Houston-based company said it had profit of 5 cents per share. Earnings, adjusted for non-recurring costs, were 25 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The partnership that owns mineral and royalty interests posted revenue of $58.4 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $81.8 million.
Black Stone Minerals shares have increased 61% since the beginning of the year. In the final minutes of trading on Monday, shares hit $10.76, an increase of 53% in the last 12 months.
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