Black Stone Minerals, L.P. (BSM)

Black Stone Minerals Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	413.68	426.97	488.59	771.23	491.44	287.56
Revenue Growth (YoY)	-15.70%	-12.61%	-36.65%	56.93%	70.90%	-37.89%
Cost of Revenue	52.13	59.28	68.37	78.61	62.87	57.5
Gross Profit	361.55	367.69	420.23	692.62	428.58	230.06
Selling, General & Admin	53.69	52.08	51.46	53.65	48.45	42.98
Other Operating Expenses	-22.32	-5.43	-102.58	108.49	133.26	-54.06
Operating Expenses	81.46	94.58	-3.3	210.14	243.8	122
Operating Income	280.08	273.11	423.52	482.48	184.78	108.06
Interest Expense	-5.52	-3.11	-2.75	-6.29	-5.64	-10.41
Interest & Investment Income	0.65	1.67	1.87	0.05	0	0.04
Other Non Operating Income (Expenses)	-0.16	-0.34	-0.16	0.22	0.3	0.08
EBT Excluding Unusual Items	275.05	271.33	422.48	476.46	179.44	97.77
Merger & Restructuring Charges	-	-	-	-	-0.3	-
Gain (Loss) on Sale of Assets	-	-	0.07	0.02	2.85	24.05
Pretax Income	275.05	271.33	422.55	476.48	181.99	121.82
Earnings From Continuing Operations	275.05	271.33	422.55	476.48	181.99	121.82
Net Income	275.05	271.33	422.55	476.48	181.99	121.82
Preferred Dividends & Other Adjustments	29.47	29.47	21.78	21	21	21
Net Income to Common	245.59	241.86	400.77	455.48	160.99	100.82
Net Income Growth	-19.57%	-35.79%	-11.32%	161.82%	49.39%	-43.17%
Shares Outstanding (Basic)	211	211	210	209	208	207
Shares Outstanding (Diluted)	211	211	225	224	208	207
Shares Change (YoY)	-3.17%	-6.41%	0.29%	7.76%	0.71%	0.34%
EPS (Basic)	1.16	1.15	1.91	2.18	0.77	0.49
EPS (Diluted)	1.16	1.15	1.88	2.12	0.77	0.49
EPS Growth	-22.55%	-38.84%	-11.58%	175.70%	57.87%	-48.01%
Free Cash Flow	223.15	274.01	501.44	412.42	242.25	276.99
Free Cash Flow Per Share	1.06	1.30	2.23	1.84	1.16	1.34
Dividend Per Share	1.425	1.500	1.900	1.745	0.895	0.555
Dividend Growth	-16.18%	-21.05%	8.88%	94.97%	61.26%	-60.64%
Gross Margin	87.40%	86.12%	86.01%	89.81%	87.21%	80.01%
Operating Margin	67.71%	63.96%	86.68%	62.56%	37.60%	37.58%
Profit Margin	59.37%	56.65%	82.03%	59.06%	32.76%	35.06%
Free Cash Flow Margin	53.94%	64.18%	102.63%	53.47%	49.29%	96.33%
EBITDA	321.93	319.6	470.25	531.15	246.87	242.24
EBITDA Margin	77.82%	74.85%	96.25%	68.87%	50.23%	84.24%
D&A For EBITDA	41.85	46.49	46.73	48.67	62.09	134.18
EBIT	280.08	273.11	423.52	482.48	184.78	108.06
EBIT Margin	67.71%	63.96%	86.68%	62.56%	37.60%	37.58%
Revenue as Reported	437.33	433.7	592.22	663.6	359.26	342.75

Updated Aug 4, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q