Black Stone Minerals Q2 adjusted EBITDA beats estimates on higher oil prices

Black Stone Minerals

03/08/2026 22:24

Overview
U.S. mineral and royalty interests owner's Q2 adjusted EBITDA beat analyst expectations
Q2 oil and gas revenue fell 2% sequentially, up from a year ago
Production volumes declined 9% from Q1, mainly due to lower Haynesville gas output

Outlook
Company says development under existing agreements continues to progress, with new areas under negotiation
Black Stone remains focused on mineral acquisitions and supporting long-term production growth
Company is encouraged by the long-term outlook for natural gas and increasing activity in core areas

Result Drivers
LOWER HAYNESVILLE GAS OUTPUT - Co said production declined mainly due to lower natural gas mineral and royalty volumes in Haynesville
IMPROVED OIL PRICING - Co said improved oil pricing and production contributed to results during the quarter, per Co-CEO Taylor DeWalch
MINERAL ACQUISITIONS - Co said ongoing mineral acquisitions and development agreements advanced its organic growth strategy, per management

Company press release: ID:nBwchfyRVa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Oil & Gas Revenue
 
$115.40 mln
 
Q2 EPS
 
$0.47
 
Q2 Net Income
 
$106.40 mln
 
Q2 Adjusted EBITDA
Beat
$91.30 mln
$76.02 mln (4 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy."
Wall Street's median 12-month price target for Black Stone Minerals LP is $16.50, about 10.4% above its July 31 closing price of $14.95
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)