Oil and gas exploration and production company Kosmos Energy Ltd. (KOS) reported better-than-expected results for the fourth quarter.
The company's Q4 net income was $21.7 million or $0.04 per share compared to a loss of $114.3 million or $0.25 per share last year.
On an adjusted basis, net income increased to $148.8 million or $0.31 per share from $110.8 million or $0.25 per share a year ago.
Meanwhile, total revenues and other income declined to $507.8 million from $563.7 million in the prior year period.
Analysts polled by Thomson Reuters expected earnings of $0.23 per share on revenue of $477.73 million for the quarter. Analysts' estimates typically exclude certain special items.
Total net production in the fourth quarter of 2023 averaged about 66,000 boepd representing a ~12% increase compared to the fourth quarter of 2022.
Kosmos exited the fourth quarter of 2023 with about $2.4 billion of total long-term debt and about $2.3 billion of net debt and available liquidity of about $0.7 billion. The company generated net cash provided by operating activities of about $294 million and free cash flow of about $(27) million in the fourth quarter.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.