Kosmos Energy Ltd. (KOS), a deepwater exploration and production company, reported Tuesday a loss in its first quarter, compared to prior year's profit, with lower revenues.
In the first quarter, net loss was $110.61 million or $0.23 per share, compared to profit of $91.69 million or $0.19 per sharea year ago.
Adjusted net loss was $105 million or $0.22 per share for the latest first quarter, compared to profit of $99.10 million or $0.21 per share a year earlier.
The Wall Street analysts on average expected the company to report loss of $0.09 per share. Analysts' estimates typically exclude special items.
Total revenues and other income plunged to $290.43 million from $419.14 million last year. Analysts expected revenues of $319.16 million.
Total net production in the first quarter oaveraged approximately 60,500 barrels of oil equivalent per day or boepd, impacted by planned shutdowns at Jubilee in Ghana and at the Kodiak host facility in the Gulf of America.
Looking ahead, the company continues to expect full-year 2025 company production at 70,000 - 80,000 boepd.
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