Black Stone Minerals (BSM) Reports Q3 Earnings: What Key Metrics Have to Say
Black Stone Minerals (BSM) reported $109.8 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 49.3%. EPS of $0.27 for the same period compares to $0.46 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $135.23 million, representing a surprise of -18.81%. The company delivered an EPS surprise of -38.64%, with the consensus EPS estimate being $0.44.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Black Stone Minerals performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average daily production: 42.6 millions of barrels of oil equivalent compared to the 38.41 millions of barrels of oil equivalent average estimate based on four analysts.
Production - Natural gas: 16,980 MMcf compared to the 15,647.04 MMcf average estimate based on two analysts.
Average Realized Sale Prices - Oil and condensate: $78.50 versus $79.15 estimated by two analysts on average.
Average Realized Sale Prices - Natural gas and natural gas liquids: $2.87 versus $2.74 estimated by two analysts on average.
Production - Equivalents: 3,922 MBOE versus 3,544.5 MBOE estimated by two analysts on average.
Production - Oil and condensate: 1,092 MBBL compared to the 896.03 MBBL average estimate based on two analysts.
Revenue- Oil and condensate sales: $85.72 million versus $76.90 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6.8% change.
Revenue- Lease bonus and other income: $2.18 million versus $2.63 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -31% change.
Revenue- Natural gas and natural gas liquids sales: $48.82 million compared to the $45.35 million average estimate based on two analysts.
View all Key Company Metrics for Black Stone Minerals here>>>
Shares of Black Stone Minerals have returned +3.3% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Black Stone Minerals, L.P. (BSM) : Free Stock Analysis Report
