Kosmos Energy Ltd. (KOS), an upstream oil company, on Monday reported a net loss for the second quarter, reflecting decreased revenue and higher expenses.
For the three-month period to June 30, the company reported a net loss of $87.740 million, or $0.18 per share, compared with a profit of $59.770 million, or $0.12 per share, in the same period last year.
Excluding items, loss was $92.697 million, or $0.19 per share, as against the prior year's profit of $80.482 million, or $0.17 per share.
Loss before income taxes was $63.760 million, compared with a profit of $135.124 million in 2024.
Total costs and expenses moved up to $457.278 million from $315.812 million a year ago.
Total revenues and other income were $393.518 million, down from $450.936 million in the previous year.
Looking ahead, for the full year, Kosmos has revised down its annual output guidance to reflect the slower GTA ramp-up and lower Jubilee production in the second quarter.
For the full year, production is now expected to be 65,000 to 70,000 boepd, compared with the earlier expectation of 70,000 to 80,000 boepd.
Annual capital expenditure guidance now revised down to around $350 million from $400 million previously.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.