HOUSTON (AP) — HOUSTON (AP) — Black Stone Minerals LP (BSM) on Monday reported fourth-quarter net income of $147.6 million.
The Houston-based company said it had profit of 65 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The partnership that owns mineral and royalty interests posted revenue of $190.8 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $142.7 million.
For the year, the company reported profit of $422.5 million, or $1.88 per share. Revenue was reported as $592.2 million.
Black Stone Minerals shares have dropped almost 5% since the beginning of the year. The stock has decreased almost 2% 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