Black Stone Minerals Q1 adjusted core profit eases past estimates

Black Stone Minerals LP

04/05/2026 22:11

Overview

US mineral royalty owner's Q1 adjusted EBITDA beat analyst expectations

Q1 oil and gas revenue rose 8.5% yr/yr; net income declined from prior year

Production outperformance driven by higher natural gas activity and strong Permian oil output

Outlook

Company expects meaningful production growth through 2026 and beyond

Black Stone sees continued increase in activity across core areas supporting a constructive long-term outlook

Company has oil and gas hedges in place through 2027

Result Drivers

COMMODITY PRICE VOLATILITY - Co said results reflected significant volatility, with natural gas realizations impacted by February regional pricing dislocations and oil pricing affected by March geopolitical uncertainty

DERIVATIVE LOSSES - Net income was negatively affected by a $64.6 mln loss on commodity derivative instruments, including a $52.3 mln unrealized loss

Company press release: ID:nBw3glF0ka

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Oil & Gas Revenue
$117.5 mln
Q1 Net Income
$13.3 mln
Q1 Adjusted EBITDA
Beat
$87 mln
$70.47 mln (3 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "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 $17.00, about 19.4% above its May 4 closing price of $14.24

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 12 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.)