Kosmos Energy swings to loss despite higher revenues

U.S.-based Kosmos Energy sank to a loss in the last quarter of 2019 despite a significant increase in revenues compared to the same period of 2018. 

According to its report on Monday, Kosmos generated a net loss of $35.8 million in the fourth quarter of 2019 compared to a profit of $185.6 million in the same period of 2018.

When adjusted for certain items that impact the comparability of results, the company generated an adjusted net loss of $37 million for the fourth quarter of 2019.

The company’s total revenues in the period increased to $460 million from $309.5 million in 4Q 2018.

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