KOS - Kosmos Energy misses Q2 top and bottom line estimates; initiates Q3 and reaffirms FY23 outlook

2023-08-07 03:15:18 ET

• Kosmos Energy press release ( NYSE: KOS ): Q2 Non-GAAP EPS of $0.06 misses by $0.03 .
• Revenue of $273.32M (-56.0% Y/Y) misses by $27.21M .
• Net Production of ~58,000 barrels of oil equivalent per day (boepd), with sales of ~45,200 boepd.

• Net capital expenditure for the second quarter of 2023 was $170 million, below guidance primarily due to lower accruals related to the delay in the subsea workscope on Tortue Phase 1.

• Realized pricing for the quarter of $65.40 per boe, including derivative cash settlements, was lower compared to the first quarter due to lower commodity prices during the period.

• 2023 Guidance: Production of 65,000 - 69,000 boe per day; Capital Expenditure of $700 - $750 million.
• Q3 outlook: Production of 67,000 - 70,000 boe per day; Capital Expenditure of $175 - $200 million.

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