NYSE$BSM

Black Stone Minerals LP · Q2 2025 earnings

Q2 2025 earnings · · After market close · Investor relations

Briefing

Black Stone Minerals reported Q2 2025 revenue of $55.8M, net income of $120.0M.

For Q2 2025, Black Stone Minerals reported Revenue was $55.8M, net income was $120.0M. Management discusses segment trends, liquidity, and outlook in the quarterly filing.

  • Revenue $55.8M for Q2 2025.
  • Net income $120.0M.
  • MD&A highlights operating priorities, liquidity, and sector risks.

Headline financials

Total Revenue

$159M

Previous: $110M+45.5%
EPS (adj)

$0.53

Previous: $0.29+82.8%
Oil production (MBbls)

863.0K

Previous: 953.0K-9.4%
Natural gas production (MMcf)

13.7M

Previous: 16.4M-16.1%
Total production (MBoe)

3.1M

Previous: 3.7M-14.4%
Avg daily production (MBoe/d)

34.6K

Previous: 40.4K-14.4%
Oil realized price ($/Bbl)

$64.67

Previous: $77.53-16.6%
Gas realized price ($/Mcf)

$3.37

Previous: $2.23+51.1%
Realized price ($/Boe)

$32.40

Previous: $30.01+8.0%
Capital Expenditures

-$38.5M

Previous: -$49.9M+22.9%
Net Income

$120M

Previous: $68.3M+75.7%
Operating Income

$122M

Previous: $68.5M+78.5%

Revenue & EPS history

Black Stone Minerals · Revenue · Quarterly

$159M

Q2 2025+45.5%vs Q2 2024
Beat estimate in 6 of 14 quarters(43%)
ActualEstimate

Revenue by segment

Black Stone Minerals · $110M total across 4 segments · Q3 2023

  • Oil & condensate sales
    $85.7M+6.8%
  • Natural gas & NGL sales
    $48.8M-64.6%
  • Lease bonus & other income
    $2.18M-31.0%
  • Derivative gains
    -$26.9M-469.7%

Forward guidance

The quarterly filing discusses operating priorities, liquidity, and sector risks.

Tailwinds

  • MD&A outlines strategic priorities and capital allocation.
  • Segment commentary supports the earnings narrative.

Headwinds

  • Macro, rates, or input costs may pressure margins.
  • One-time items can affect year-over-year comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2025

Historical avgQ2 2025

+0.4%

Avg return

Earnings day

+0.4%

Avg return

5 days after

-1.3%

Avg return

30 days after

56%

25 / 45 earnings

Positive

+7.2%

Q2 2018

Best reaction

-11.8%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.3%-6.1%-2.0%
Q4 2025+0.7%+1.6%+3.1%
Q3 2025+2.2%+1.6%+10.8%
Q2 2025+1.1%-3.2%-3.6%
Q1 2025-1.7%-3.8%-4.9%
Q4 2024+1.1%+0.1%+2.3%
Q3 2024+1.2%+0.3%+0.9%
Q2 2024+2.2%+0.4%+0.7%
Q1 2024-0.5%-4.1%-4.0%
Q4 2023+0.1%+1.2%+3.4%
Q3 2023+2.1%+3.6%-1.0%
Q2 2023-2.8%-0.5%-2.2%
Q1 2023-6.5%-5.7%-5.3%
Q4 2022+0.5%-0.4%-5.8%
Q3 2022+3.4%+5.7%+0.4%
Q2 2022-0.3%-1.7%+2.2%
Q1 2022-0.4%-3.0%+3.7%
Q4 2021+0.5%+4.8%+11.7%
Q3 2021-0.9%-2.8%-14.1%
Q2 2021+0.2%-0.2%-3.4%
Q1 2021+3.4%+3.6%-0.5%
Q4 2020-1.4%-5.5%-7.2%
Q3 2020-0.8%+8.8%+19.3%
Q2 2020+3.4%+4.6%-3.7%
Q1 2020+7.0%+17.6%+19.7%
Q4 2019-11.8%-12.5%-54.9%
Q3 2019+0.4%+1.8%-8.9%
Q2 2019-2.3%-3.2%-5.2%
Q1 2019+3.5%-2.0%-9.9%
Q4 2018-2.1%-2.8%-3.7%
Q3 2018+4.9%+0.7%-2.3%
Q2 2018+7.2%+11.1%+7.7%
Q1 2018+2.6%+5.0%+2.0%
Q4 2017-3.5%-4.1%-8.9%
Q3 2017-2.7%-1.4%-2.8%
Q2 2017+0.5%+4.0%+6.6%
Q1 2017+6.5%+6.5%+0.2%
Q4 2016-0.5%-1.0%-7.6%
Q3 2016+4.9%+3.1%+8.9%
Q2 2016-1.9%-4.2%+6.2%
Q1 2016-2.5%
Q4 2015+4.2%
Q3 2015-0.7%
Q2 2015+1.3%
Q1 2015-0.7%
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013

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