Black Stone (BSM) Q3 2025 Earnings Transcript

Black Stone Minerals reported Q3 2025 earnings with mineral and royalty production of 34,700 BOE per day (up 5% sequentially), net income of $91.7 million, and adjusted EBITDA of $86.3 million. The company declared a $0.30 per unit quarterly distribution ($1.20 annualized) with 1.21x coverage ratio. Management highlighted progress on Haynesville/Shelby Trough expansion with over 50 wells per year potential, $20 million in acquisitions this quarter, and upcoming volume contributions from Aethon and Permian projects in 2026. CEO Tom Carter emphasized long-term value creation, stating 'the time to buy our shares is now not 2 years from now.'

05/04/2026, 3:31 PM • The Motley Fool

Black Stone Minerals SVP Sells $462,000 Worth of Units As Stock Climbs Throughout 2026

Luke Stevens Putman, SVP and General Counsel of Black Stone Minerals, L.P., sold 30,276 common units worth approximately $462,000 on March 5, 2026, completely divesting his direct holdings. The sale occurred during a period of positive stock performance, with the company's units showing a 16.1% one-year total return. The article notes that while geopolitical tensions supporting oil and gas prices make the stock attractive, investors should be cautious about price volatility and understand the tax implications of investing in Master Limited Partnerships.

03/22/2026, 8:03 AM • The Motley Fool