KOS - Kosmos Energy: Dismal Q2 Results Were Not Surprising
Kosmos Energy Ltd. (KOS), an Atlantic Margin-focused exploration & production company, has recently presented its Q2 results, which were perceived by Mr. Market as a Sell signal. On August 3, the stock lost approximately 16.7%, only because quarterly revenue was below the Wall Street consensus estimate, and the smaller-than-expected (backed by aggressive cost-cutting) adjusted loss was ignored by traders. However, the double-digit decline was short-lived, as the stock price rose ~10.5% on August 4.
Though plunged revenue was truly disappointing, the market overlooked one essential thing: Q2 revenue cratered, but KOS has adapted