HOUSTON (AP) — HOUSTON (AP) — Black Stone Minerals LP (BSM) on Monday reported third-quarter profit of $62.1 million.
On a per-share basis, the Houston-based company said it had net income of 27 cents.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The partnership that owns mineral and royalty interests posted revenue of $109.8 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $135.2 million.
Black Stone Minerals shares have increased 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.72, a fall of roughly 1% 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