OIL STATES INTERNATIONAL, INC Earnings Per Share Disclosure
| 2024 | 2023 | 2022 | |||||||||||||||
| Numerators: | |||||||||||||||||
| Net income (loss) | $ | (11,258) | $ | 12,891 | $ | (9,540) | |||||||||||
| Less: Income attributable to unvested restricted stock awards | — | (251) | — | ||||||||||||||
| Numerator for basic net income (loss) per share | (11,258) | 12,640 | (9,540) | ||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||
| Unvested restricted stock awards | — | 2 | — | ||||||||||||||
| Numerator for diluted net income (loss) per share | $ | (11,258) | $ | 12,642 | $ | (9,540) | |||||||||||
| Denominators: | |||||||||||||||||
| Weighted average number of common shares outstanding | 63,497 | 63,934 | 62,842 | ||||||||||||||
| Less: Weighted average number of unvested restricted stock awards outstanding | (1,493) | (1,244) | (1,204) | ||||||||||||||
| Denominator for basic net income (loss) per share | 62,004 | 62,690 | 61,638 | ||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||
| Performance share units | — | 462 | — | ||||||||||||||
| Denominator for diluted net income (loss) per share | 62,004 | 63,152 | 61,638 | ||||||||||||||
| Net income (loss) per share: | |||||||||||||||||
| Basic | $ | (0.18) | $ | 0.20 | $ | (0.15) | |||||||||||
| Diluted | (0.18) | 0.20 | (0.15) | ||||||||||||||
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.