Kosmos Q2 Earnings Misses Street View
Portfolio Pulse from Lekha Gupta
Kosmos Energy Ltd (NYSE:KOS) reported Q2 2023 revenue of $273.3 million, missing the consensus of $289.5 million. Net production was around 58,000 barrels of oil equivalent per day (boepd), with sales of about 45,200 boepd. Realized pricing declined to $65.40 per boe from $86.50 per boe, due to lower commodity prices. Pro Forma EBITDAX decreased to $193.4 million from $388.0 million a year ago. Adjusted EPS was $0.06, missing the consensus of $0.09. The company reaffirmed the 2023 outlook for capital expenditure of $700 million - $750 million and production of 65,000 - 69,000 boe per day.
August 07, 2023 | 9:40 am
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Kosmos Energy's Q2 2023 earnings missed estimates, with lower revenue, net production, and EPS. The company reaffirmed its 2023 outlook.
Kosmos Energy's Q2 2023 earnings missed estimates, which could negatively impact investor sentiment and potentially lead to a short-term decrease in the stock price. However, the company reaffirmed its 2023 outlook, which could mitigate some of the negative impact.
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