Oil and gas producer Kosmos Energy (NYSE: KOS) will be reporting earnings this Monday before market open. Here’s what you need to know.
Kosmos Energy beat analysts’ revenue expectations last quarter, reporting revenues of $607.6 million, up 54.6% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates. It reported a year-on-year oil production decline of 14.8%.
Is Kosmos Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Kosmos Energy’s revenue to grow 51.9% year on year, a reversal from the 23.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Kosmos Energy has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Kosmos Energy’s peers in the upstream & integrated segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Weatherford’s revenues decreased 7.2% year on year, beating analysts’ expectations by 0.8%, and Expand Energy reported revenues up 11.6%, topping estimates by 54.4%. Weatherford traded up 7.8% following the results while Expand Energy was down 3.2%.
Read our full analysis of Weatherford’s results here and Expand Energy’s results here.
There has been positive sentiment among investors in the upstream & integrated segment, with share prices up 6.2% on average over the last month. Kosmos Energy is up 13.9% during the same time and is heading into earnings with an average analyst price target of $3.05 (compared to the current share price of $2.86).
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