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Kosmos Energy Q1 Misses, but Production Surges
Description
Kosmos Energys Q1 revenue missed estimates at $371M, with adjusted EPS at -$0.07. Oil production surged 20.6% YoY, and operating margins turned positive at 19.7%. The company attributed the shortfall to sales contracts delaying higher oil prices. Analysts questioned seismic data, operating costs, and commodity swings. Higher prices and drilling results are expected to boost revenue, while asset sales aim to trim debt. The stock is down to $2.91 from $3.27 pre-earnings, with a market cap of $1.71B.
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