HALLADOR ENERGY CO Earnings Per Share Disclosure
(12) NET INCOME (LOSS) PER SHARE
The following table (in thousands, except per share amounts) sets forth the computation of basic earnings per share for the periods presented:
| Year Ended December 31, | |||||
2025 | 2024 | |||||
Basic earnings per common share: |
| |
| | ||
Net income (loss) - basic | $ | 41,871 | $ | (226,138) | ||
Weighted average shares outstanding - basic |
| 42,932 |
| 39,504 | ||
Basic earnings (loss) per common share | $ | 0.98 | $ | (5.72) | ||
The following table (in thousands, except per share amounts) sets forth the computation of diluted net income (loss) per share:
| Year Ended December 31, | |||||
2025 | 2024 | |||||
Diluted earnings per common share: |
| |
| | ||
Net income (loss) - diluted | $ | 41,871 | $ | (226,138) | ||
Weighted average shares outstanding - basic |
| 42,932 |
| 39,504 | ||
Add: Dilutive effects of Restricted Stock Units |
| 500 |
| — | ||
Weighted average shares outstanding - diluted |
| 43,432 |
| 39,504 | ||
Diluted net income (loss) per share | $ | 0.96 | $ | (5.72) | ||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 12, 2026 | Showing above |
| 2024 | Mar 17, 2025 | |
| 2023 | Mar 14, 2024 | |
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.