NGL Energy Partners LP Earnings Per Share Disclosure
| Year Ended March 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| Weighted average common units outstanding during the period: | ||||||||||||||||||||
| Common units - Basic | 132,204,283 | 132,146,477 | 131,007,171 | |||||||||||||||||
| Common units - Diluted | 132,204,283 | 132,146,477 | 131,007,171 | |||||||||||||||||
| Year Ended March 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| (in thousands, except per unit amounts) | ||||||||||||||||||||
| Income (loss) from continuing operations | $ | 64,989 | $ | (157,728) | $ | 9,035 | ||||||||||||||
| Less: Continuing operations income attributable to nonredeemable noncontrolling interests | (3,749) | (631) | (1,106) | |||||||||||||||||
| Less: Continuing operations income attributable to redeemable noncontrolling interests | (46) | — | — | |||||||||||||||||
| Net income (loss) from continuing operations attributable to NGL Energy Partners LP | 61,194 | (158,359) | 7,929 | |||||||||||||||||
| Less: Distributions to preferred unitholders (1) | (118,347) | (139,644) | (124,691) | |||||||||||||||||
| Less: Continuing operations net loss allocated to GP (2) | 57 | 298 | 116 | |||||||||||||||||
| Net loss from continuing operations allocated to common unitholders | $ | (57,096) | $ | (297,705) | $ | (116,646) | ||||||||||||||
| (Loss) income from discontinued operations, net of tax | $ | (21,826) | $ | 14,604 | $ | 43,457 | ||||||||||||||
| Less: Discontinued operations net loss (income) allocated to GP (2) | 22 | (15) | (43) | |||||||||||||||||
| Net (loss) income from discontinued operation allocated to common unitholders | $ | (21,804) | $ | 14,589 | $ | 43,414 | ||||||||||||||
| Net loss allocated to common unitholders | $ | (78,900) | $ | (283,116) | $ | (73,232) | ||||||||||||||
| Basic and diluted (loss) income per common unit | ||||||||||||||||||||
| Loss from continuing operations | $ | (0.43) | $ | (2.25) | $ | (0.89) | ||||||||||||||
| (Loss) income from discontinued operations, net of tax | $ | (0.16) | $ | 0.11 | $ | 0.33 | ||||||||||||||
| Net loss | $ | (0.60) | $ | (2.14) | $ | (0.56) | ||||||||||||||
| Basic and diluted weighted average common units outstanding | 132,204,283 | 132,146,477 | 131,007,171 | |||||||||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | May 29, 2025 | Showing above |
| 2024 | Jun 6, 2024 | |
| 2023 | May 31, 2023 | |
| 2022 | Jun 6, 2022 | |
| 2017 | May 26, 2017 | |
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.