Mineral rights owner Black Stone Minerals (NYSE: BSM) will be reporting earnings this Monday afternoon. Here’s what investors should know.
Black Stone Minerals beat analysts’ revenue expectations last quarter, reporting revenues of $118.7 million, up 41.8% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS estimates. It reported 768,000 oil production, down 10.2% year on year.
Is Black Stone Minerals a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Black Stone Minerals’s revenue to grow 65.7% year on year, a reversal from the 43.8% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Black Stone Minerals has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Black Stone Minerals’s peers in the upstream & integrated segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Solaris Energy Infrastructure delivered year-on-year revenue growth of 55.3%, beating analysts’ expectations by 6.8%, and Weatherford reported a revenue decline of 3.4%, topping estimates by 0.6%. Solaris Energy Infrastructure traded up 5.4% following the results while Weatherford was also up 1.4%.
Read our full analysis of Solaris Energy Infrastructure’s results here and Weatherford’s results here.
There has been positive sentiment among investors in the upstream & integrated segment, with share prices up 4.1% on average over the last month. Black Stone Minerals is down 1.6% during the same time.
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