HOUSTON (AP) _ Black Stone Minerals LP (BSM) on Monday reported fourth-quarter earnings of $40 million.
The Houston-based company said it had net income of 17 cents per share. Earnings, adjusted for non-recurring costs, came to 27 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The partnership that owns mineral and royalty interests posted revenue of $103 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $124.2 million.
For the year, the company reported profit of $214.4 million, or $1.01 per share. Revenue was reported as $487.8 million.
Black Stone Minerals shares have declined 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.97, a fall of 45% in the last 12 months.