Kosmos Energy Slips To Loss In Q4, But Results Beat View - Quick Facts

(RTTNews) - Kosmos Energy Ltd. (KOS) on Monday reported a net loss for the fourth quarter as higher revenues were more than offset by a surge in costs and expenses. However, adjusted loss per share was narrower than analysts' expectations and revenues also beat their estimates.

For the fourth quarter of 2016, the company's net loss was $56.70 million, or $0.15 per share, compared to net income of $24.00 million or $0.06 per share in the same period last year.

The latest quarter's results mark-to-market loss of $14 million related to the company's oil derivative contracts.

Adjusted net loss for the quarter was $5.6 million or $0.01 per share, compared to adjusted net income of $17.56 million or $0.05 per share in the year-ago period.

On average, analysts polled by Thomson Reuters expect the company to report loss of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues and other income for the quarter grew to $210.92 million from $121.87 million last year. Oil revenues rose to $156.12 million from $121.75 million in the same quarter of 2015. Analysts had a consensus revenue estimate of $197.42 million.

Sales for the quarter increased to 3.0 million barrels from 2.8 million barrels in the year-ago period.

Total costs and expenses rose to $268.34 million from $55.90 million last year.