EarningsQ2 2026 Earnings Report
MX:KOS Q2 2026 EPS Results
Actual EPS$1.87
Consensus EPS$1.58
Beat/MissBeat by +$0.29
One Year Ago EPS-$3.23
MX:KOS Q2 2026 Revenue Results
Actual Revenue$10.51B
Expected Revenue$8.21B
Beat/MissBeat by +$2.30B
YoY Revenue Growth+54.82%
Earnings Announcement Details
QuarterQ2 2026
Date08/03/2026
TimeBefore Open
Conference CallMonday, August 3, 2026
MX:KOS Upcoming Earnings
Kosmos Energy's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:KOS Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveys a predominantly positive operational and financial trajectory: strong production growth (Jubilee, GTA), material cost reductions, meaningful net debt reduction, improved liquidity and credit upgrades, and successful execution on strategic transactions (Tiberius farm‑down). Operational challenges (Winterfell drilling issues, Jubilee water injection availability) and a modest production reduction from the Equatorial Guinea disposal are notable risks but are described as manageable and being actively addressed. Overall, the positive developments (production, costs, balance sheet, strategic progress) outweigh the operational hiccups.Company Guidance
Production Growth
Company production ~12% higher year‑on‑year in Q2; first half production up 18% versus prior year. Jubilee gross production expected above 90,000 bbl/day with full‑year Jubilee guidance unchanged at 70,000–80,000 bbl/day.
GTA Volumes and Progress
GTA Q2 gross LNG production ~2.65 mtpa equivalent; 9 gross LNG cargos lifted in Q2 and 18.5 cargos in H1; full‑year guidance unchanged at 32–36 gross cargos. Two condensate cargos expected/realized netting ~300k and ~400k barrels to Kosmos.
Material Cost Reductions
Absolute operating costs down ~25% year‑on‑year in Q2 and down ~24% in H1 versus 2025. Company expects ~35% reduction in OpEx per barrel in 2026 and a ~50% reduction target in OpEx per MMBtu for GTA this year.
Debt, Liquidity and Credit Upgrades
Net debt reduced by ~15% versus year‑end 2025; approximately $420 million of debt paid down in H1 via free cash flow, equity raise and EG sale. Available liquidity >$500 million and both S&P and Fitch upgraded the company to B-.
Tiberius FID and Farm‑down
Tiberius reached FID and a competitive farm‑down brings Navitas as a 33.33% partner; Kosmos remains operator with 33.34%. Farm‑down proceeds include upfront cash, carry (expected to cover Kosmos' 2026 Tiberius CapEx) and milestone payments; first oil expected in H2 2028. Transaction implies ~ $250M gross valuation for Tiberius with ~ $45M consideration to Kosmos.
Gulf of America Exploration Upside
Entered strategic exploration alliance with Shell; Trailblazer prospect targets ~200 million barrels gross (Kosmos ~30% ≈ ~60 million barrels net). Tiberius first well targeting ~40 million barrels recovery with low development cost metrics (~$10/boe F&D cited).
Operational Wins at Jubilee
New wells J76 and J77 came online; J76 described as the best Jubilee well in over a decade and highlights significant upside and bypass/deeper‑horizon potential supported by 4D and OBN seismic.
Progress on GTA Domestic Gas and Local Infrastructure
Phase 1 domestic gas to power advancing: pipeline fabrication completed and shipped, land cleared in Senegal for northern pipeline segment to the 250 MW Gandon power station; Mauritania signed a 25‑year agreement for a new 230 MW gas‑fired power plant expected to use GTA gas.
MX:KOS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed