BATTALION OIL CORP Earnings Per Share Disclosure
14. EARNINGS PER SHARE
The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):
Years Ended December 31, | ||||||
| 2025 | | 2024 | |||
Basic: | ||||||
Net income (loss) | $ | 11,879 | $ | (31,882) | ||
Less: Preferred stock dividend | (48,706) | (32,219) | ||||
Net (loss) income available to common stockholders | $ | (36,827) | $ | (64,101) | ||
Weighted average basic number of common shares outstanding basic | 16,457 | 16,457 | ||||
Basic net (loss) income per share of common stock | $ | (2.24) | $ | (3.90) | ||
Diluted: | ||||||
Net (loss) income available to common stockholders basic | $ | (36,827) | $ | (64,101) | ||
Net (loss) income available to common stockholders diluted | $ | (36,827) | $ | (64,101) | ||
Weighted average basic number of common shares outstanding | 16,457 | 16,457 | ||||
Common stock equivalent shares representing shares issuable upon: | ||||||
Exercise of stock options | Anti-dilutive | Anti-dilutive | ||||
Vesting of restricted stock units | Anti-dilutive | Anti-dilutive | ||||
Weighted average diluted number of common shares outstanding diluted | 16,457 | 16,457 | ||||
Diluted net income (loss) per share of common stock | $ | (2.24) | $ | (3.90) | ||
For the year ended December 31, 2025, common stock equivalents, including stock options and certain restricted stock units, totaling 0.1 million weighted-average shares were anti-dilutive and not included in the computation of diluted earnings per share of common stock. For the year ended December 31, 2024, common stock equivalents, including stock options and certain restricted stock units, totaling 0.2 million weighted-average shares were anti-dilutive and not included in the computation of diluted earnings per share of common stock. Additionally, the Company also has less than 0.1 million restricted stock units that vest only upon achievement of certain business combination goals as further described in Note 12, “Stockholder’s Equity”.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 23, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
| 2023 | Apr 1, 2024 | |
| 2022 | Mar 30, 2023 | |
| 2021 | Mar 7, 2022 | |
| 2020 | Mar 8, 2021 | |
| 2019 | Mar 25, 2020 | |
| 2018 | Mar 12, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Mar 1, 2017 | |
| 2015 | Feb 26, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.