Kosmos Q1 Loss Widens, Stock Down
(RTTNews) - Kosmos Energy Ltd. (KOS), a deepwater exploration and production company, Tuesday reported a wider net loss for the first quarter, despite revenue growth. Costs, and expenses, especially net derivative and exploration expenses were significantly up and that weighed on the bottom line.
In pre-market activity on the NYSE, shares of Kosmos were losing 4.28 percent, trading at $3.1300, after closing Monday's regular trading 2.19 percent higher.
Net loss widened to $225.57 million or $0.45 per share from $110.60 million or $0.23 per share last year
Meanwhile, adjusted net loss was $35.62 million or $0.07 per share, while in the prior year adjusted net loss was $105.43 million or $0.22 per share.
Total costs and expenses grew to $611.98 million from $384.46 million a year earlier. Net derivative was $251.996 million, up from $6.73 million last year. Exploration expenses zoomed to $19.744 million from $9.67 million in the prior year.
Quarterly revenue rose to $370.90 million from $290.43 million, in the previous year.
Net Production averaged approximately 74,800 barrels of oil equivalent per day or boepd, up about 25 percent compared with the first quarter 2025.
Kosmos added hedges for 2027 amid a higher forward price curve.
The company has 5.7 million barrels of oil hedged for the rest of 2026 with an average floor of about $66 per barrel. It also hedged 4.0 million barrels for 2027 with a floor of approximately $65 per barrel.
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