Earnings call transcript: Kosmos Energy misses Q3 2026 estimates as shares fall

Kosmos Energy released its Q3 2026 earnings report, which fell short of Wall Street's expectations. The company reported earnings per share of $0.06, falling short of the $0.09 analyst estimate. Revenue also missed forecasts, coming in at $409.88 million compared to the expected $426.93 million. This led to a 13.16% drop in shares, bringing them to $2.475 in premarket trading.

The stock is now near the lower end of its 52-week range. The decline was significant, erasing $0.375 per share in value before the market opened. Despite the earnings miss, Kosmos highlighted operational improvements, including higher production, lower costs, and a stronger balance sheet. The company expects full-year 2026 free cash flow of about $300 million and aims to reduce net debt below $2.4 billion by the end of 2026.

Management expects challenges ahead, including planned maintenance and hurricane-related downtime, but remains optimistic about the long-term prospects of its core assets, Jubilee and GTA.