The earnings call presented a balanced view with significant achievements in expansion and acquisitions, coupled with challenges in production growth and distribution decreases. There is a positive outlook for future growth and development, but current setbacks in production growth and distribution impact the sentiment.

Company Guidance -

Q3 2025

During the Blackstone Minerals Second Quarter 2025 Earnings Conference Call, the company provided several key metrics and forward-looking guidance. They reported mineral royalty production of 33,200 BOE per day and total production volumes of 34,600 BOE per day for the quarter. Net income was $120 million, with adjusted EBITDA at $84.2 million. The company declared a distribution of $0.30 per unit for the quarter, equating to $1.20 on an annualized basis, with distributable cash flow noted at $74.8 million, representing a 1.18x coverage. For 2025, they revised production guidance to average between 33,000 and 35,000 BOE per day, acknowledging slower-than-expected natural gas production growth, particularly in the Shelby Trough and Haynesville/Bossier play. However, they forecast a production increase of 3,000 to 5,000 BOE per day in 2026 over the revised 2025 guidance, driven by new development agreements and high-interest activities. The company also highlighted the addition of $31 million in minerals and royalty acquisitions during the quarter, bringing total acquisitions since September 2023 to approximately $172 million. These efforts, along with the development agreement with Revenant and ongoing marketing efforts, are expected to provide significant natural gas growth and a path to future distribution increases.

Expansion and Development in Shelby Trough

The team has expanded the Shelby Trough and extended towards the Western Haynesville, securing a development agreement with Revenant and marketing an additional 180,000 gross acre area. These developments are expected to more than double drilling obligations in the area over the next five years.

Minerals and Royalty Acquisitions

Blackstone Minerals added $31 million in minerals and royalty acquisitions during the quarter, bringing total acquisitions since September 2023 to about $172 million.

Solid Financial Performance

Net income for the second quarter was $120 million, with adjusted EBITDA at $84.2 million. Distributable cash flow was $74.8 million, representing a 1.18x coverage for the period.

Future Production Growth

Forecasted production growth in 2026 of an incremental 3,000 to 5,000 BOE per day over 2025 revised guidance, with ongoing development agreements and activity in the Shelby Trough and Permian Basin.

Robust Oil Portfolio

The company's robust oil portfolio across multiple basins provides a solid foundation for long-term growth, supported by growing global demand for LNG.

Black Stone Minerals (BSM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

BSM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 03, 2025	2025 (Q3)	0.33 / -	0.41	―	―	―
Aug 01, 2025	2025 (Q2)	0.29 / 0.53	0.29	82.76% (+0.24)	―
May 05, 2025	2025 (Q1)	0.32 / 0.04	0.27	-85.19% (-0.23)	―
Feb 24, 2025	2024 (Q4)	0.37 / 0.18	0.65	-72.31% (-0.47)	―
Nov 04, 2024	2024 (Q3)	0.35 / 0.41	0.27	51.85% (+0.14)	―
Aug 05, 2024	2024 (Q2)	0.36 / 0.29	0.35	-17.14% (-0.06)	―
May 06, 2024	2024 (Q1)	0.35 / 0.27	0.6	-55.00% (-0.33)	―
Feb 20, 2024	2023 (Q4)	0.49 / 0.65	0.82	-20.73% (-0.17)	―
Oct 30, 2023	2023 (Q3)	0.43 / 0.27	0.75	-64.00% (-0.48)	―
Jul 31, 2023	2023 (Q2)	0.38 / 0.35	0.59	-40.68% (-0.24)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BSM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 01, 2025	$12.26	$12.30	+0.33%
May 05, 2025	$13.53	$13.30	-1.70%
Feb 24, 2025	$14.19	$14.35	+1.13%
Nov 04, 2024	$13.50	$13.47	-0.22%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Black Stone Minerals (BSM) report earnings?

Black Stone Minerals (BSM) is schdueled to report earning on Nov 03, 2025, After Close (Confirmed).

What is Black Stone Minerals (BSM) earnings time?

Black Stone Minerals (BSM) earnings time is at Nov 03, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is BSM EPS forecast?

BSM EPS forecast for the fiscal quarter 2025 (Q3) is 0.33.

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