Shares of Kosmos Energy (KOS) plummeted 6.29% in pre-market trading on Tuesday after the company reported disappointing first-quarter results that fell short of analyst expectations.

The oil and gas exploration company reported a net loss of $111 million, or $0.23 per share, for Q1 2025, compared to a net income of $91.7 million, or $0.19 per share, in the same period last year. Adjusted earnings per share came in at a loss of $0.22, significantly below the consensus estimate of a $0.01 loss. Revenue also missed the mark, coming in at $290 million versus analysts' expectations of $318.1 million.

Several factors contributed to the weaker-than-expected results. Production volumes decreased to 60,500 barrels of oil equivalent per day (boepd) in Q1, down from 62,645 boepd in the same quarter last year. The company cited planned shutdowns at Jubilee in Ghana and at the Kodiak host facility in the Gulf of America as reasons for the lower production. Additionally, higher operating costs and increased interest expenses weighed on the bottom line. Despite these challenges, Kosmos Energy maintained its full-year 2025 production guidance of 70,000 to 80,000 boepd and stated it is working to reduce full-year capital expenditures below the previously guided $400 million.