HOUSTON (AP) — HOUSTON (AP) — Black Stone Minerals LP (BSM) on Monday reported third-quarter profit of $92.7 million.
The Houston-based company said it had net income of 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The partnership that owns mineral and royalty interests posted revenue of $134.9 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $117.7 million.
Black Stone Minerals shares have declined slightly more than 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.94, a drop of 18% in the last 12 months.
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