New Fortress Energy Inc. Earnings Per Share Disclosure
Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 (As Restated) | 2023 (As Restated) | |||||||||||||||
| Basic | |||||||||||||||||
| Numerator: | |||||||||||||||||
| Net (loss) income | $ | (1,831,953) | $ | (244,537) | $ | 548,224 | |||||||||||
| Net (loss) income attributable to non-controlling interests | (11,653) | (6,652) | (994) | ||||||||||||||
| Convertible preferred stock dividend | (1,304) | (3,462) | — | ||||||||||||||
| Deemed dividend from the preferred stock exchange | — | (17,605) | — | ||||||||||||||
| Net (loss) income attributable to Class A common stock | $ | (1,844,910) | $ | (272,256) | $ | 547,230 | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted-average shares - basic | 278,474,487 | 217,578,487 | 205,942,837 | ||||||||||||||
| Net (loss) income per share - basic | $ | (6.63) | $ | (1.25) | $ | 2.66 | |||||||||||
| Diluted | |||||||||||||||||
| Numerator: | |||||||||||||||||
| Net (loss) income | $ | (1,831,953) | $ | (244,537) | $ | 548,224 | |||||||||||
| Net (loss) income attributable to non-controlling interests | (11,653) | (6,652) | (994) | ||||||||||||||
| Convertible preferred stock dividend | (1,304) | (3,462) | — | ||||||||||||||
| Deemed dividend from the preferred stock exchange | — | (17,605) | — | ||||||||||||||
| Adjustments attributable to dilutive securities | — | (2,418) | (736) | ||||||||||||||
| Net (loss) income attributable to Class A common stock | $ | (1,844,910) | $ | (274,674) | $ | 546,494 | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted-average shares - diluted | 278,474,487 | 218,622,419 | 206,481,977 | ||||||||||||||
| Net (loss) income per share - diluted | $ | (6.63) | $ | (1.26) | $ | 2.65 | |||||||||||
Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Unvested RSUs | — | 1,579,802 | — | ||||||||||||||
Series B convertible preferred stock(1) | — | 81,746 | — | ||||||||||||||
Equity agreement shares(2) | 13,907,346 | — | — | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Apr 13, 2026 | Showing above |
| 2024 | Mar 10, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Mar 16, 2021 | |
| 2019 | Mar 4, 2020 | |
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.