Crescent Energy Co Earnings Per Share Disclosure
Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| (in thousands, except share and per share amounts) | |||||||||||||||||
| Numerator: | |||||||||||||||||
| Net income (loss) | $ | 167,166 | $ | (137,683) | $ | 321,991 | |||||||||||
Less: net (income) loss attributable to noncontrolling interests | (20,210) | 1,215 | (472) | ||||||||||||||
Less: net (income) loss attributable to redeemable noncontrolling interests | (14,050) | 21,863 | (253,909) | ||||||||||||||
| Net income (loss) attributable to Crescent Energy - basic | $ | 132,906 | $ | (114,605) | $ | 67,610 | |||||||||||
| Add: Reallocation of net income attributable to redeemable noncontrolling interest for the dilutive effect of RSUs | (5) | — | 46 | ||||||||||||||
| Add: Reallocation of net income attributable to redeemable noncontrolling interest for the dilutive effect of PSUs | (302) | — | 869 | ||||||||||||||
| Net income (loss) attributable to Crescent Energy - diluted | $ | 132,599 | $ | (114,605) | $ | 68,525 | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted-average Class A Common Stock outstanding - basic | 242,060,311 | 130,715,482 | 66,597,580 | ||||||||||||||
| Add: dilutive effect of RSUs | 159,281 | — | 39,999 | ||||||||||||||
| Add: dilutive effect of PSUs | 2,838,629 | — | 764,643 | ||||||||||||||
| Weighted-average Class A common stock outstanding – diluted | 245,058,221 | 130,715,482 | 67,402,222 | ||||||||||||||
| Weighted-average Class B Stock outstanding - basic and diluted | 16,609,332 | 70,519,162 | 104,271,400 | ||||||||||||||
| Net income (loss) per share: | |||||||||||||||||
Class A Common Stock - basic | $ | 0.55 | $ | (0.88) | $ | 1.02 | |||||||||||
Class A Common Stock - diluted | $ | 0.54 | $ | (0.88) | $ | 1.02 | |||||||||||
| Class B Common Stock - basic and diluted | $ | — | $ | — | $ | — | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Mar 4, 2024 | |
| 2022 | Mar 7, 2023 | |
| 2021 | Mar 10, 2022 | |
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.