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Jun 30, 2025
Kosmos Energy Q2 2025 Earnings Report
Kosmos Energy reported a net loss and lower revenues amid project ramp-ups and cost restructuring.
Key Takeaways
Kosmos Energy posted a net loss of $88 million for Q2 2025, with revenues declining compared to the prior year. Despite this, the company made significant operational progress including achieving commercial operations at its GTA LNG project.
Net loss of $88 million and adjusted EPS of -$0.19.
Revenue for the quarter was $393 million, down from $451 million in Q2 2024.
Free cash flow turned positive at $44.6 million despite ongoing capital expenditures.
The GTA FLNG vessel reached commercial operations, with LNG cargo liftings contributing to future revenue potential.
Revenue by Geographic Location
Forward Guidance
Kosmos expects increased production and reduced capital spending, supported by GTA ramp-up and improved operating efficiency.
Positive Outlook
- Full year capital expenditures reduced from $400M to ~$350M.
- 2025 production guidance maintained at 65,000–70,000 boepd.
- Targeted $25M in overhead reduction on track for year-end.
- FLNG production at GTA moving toward 2.7 mtpa nameplate capacity.
- Additional hedging in place for 2026 to manage price volatility.
Challenges Ahead
- Second quarter production lower than expected due to GTA and Jubilee.
- Operating costs per BOE higher than guidance due to lower volumes.
- Continued underperformance of certain Jubilee wells.
- Net income remained negative despite revenue from LNG cargoes.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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