By Connor Hart

Shares of Kosmos Energy fell after the company swung to a loss and logged lower revenue in the fourth quarter.

The stock fell 8%, to $2.93, Monday morning. Shares have lost about half their value in the past year.

The Dallas oil and gas company posted a net loss of $6.6 million, or 1 cent a share, compared with net income of $21.7 million, or 4 cents a share, a year earlier.

On an adjusted basis, the company reported a loss of 3 cents a share. Analysts surveyed by FactSet expected it to break even.

Revenue fell 22%, to $397.7 million, just below the $396.6 million that analysts modeled.

The company averaged 66,800 barrels of oil equivalent per day in the recent quarter. Production was below the company's guidance, primarily due to lower production at one of its plants and the timing of new project start ups, it said.

Chief Executive Andrew Inglis said the company will switch focus to free cash flow generation, having wrapped up a capital-intensive period that prioritized expanding production. He forecast less than $400 million in capital expenditure in 2025, which he said was down 50% from recent years.

Kosmos guided for 62,000 to 66,000 barrels of oil equivalent per day in the first quarter, as well as 70,000 to 80,000 barrels of oil equivalent per day in 2025. Analysts polled by FactSet expected 76,300 barrels of oil equivalent per day in the first quarter, as well as 81,000 barrels of oil equivalent per day for the year.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

February 24, 2025 11:50 ET (16:50 GMT)

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