HOUSTON (AP) — HOUSTON (AP) — Black Stone Minerals LP (BSM) on Monday reported first-quarter earnings of $15.9 million.
The Houston-based company said it had profit of 4 cents per share. Earnings, adjusted for non-recurring costs, were 31 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The partnership that owns mineral and royalty interests posted revenue of $59.3 million in the period.
Black Stone Minerals shares have dropped slightly more than 2% since the beginning of the year. The stock has fallen 13% in the last 12 months.
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