Permian Resources CorpPR

Permian Resources Corp Earnings Per Share Disclosure

10-KFiled Feb 26, 20262 min read
Note 11—Earnings Per Share
Basic EPS is calculated by dividing net income attributable to Class A Common Stock by the weighted average shares of Class A Common Stock outstanding during each period. Diluted EPS is calculated by dividing adjusted net income by the weighted average shares of diluted Class A Common Stock outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for the diluted EPS calculation consists of (i) unvested equity-based restricted stock and performance stock units, and outstanding stock options, all using the treasury stock method; and (ii) the Company’s Class C Common Stock and shares issuable for our Convertible Senior Notes, which were fully redeemed during the year ended December 31, 2025, both using the “if-converted” method, which is net of tax.
The following table reflects the EPS computations for the periods indicated based on a weighted average number of Class A Common Stock outstanding each period:
Year Ended December 31,
(in thousands, except per share data)202520242023
Net income attributable to Class A Common Stock
$935,174 $984,701 $476,306 
Add: Interest on Convertible Senior Notes, net of tax— 5,182 5,433 
Adjusted net income attributable to Class A Common Stock
$935,174 $989,883 $481,739 
Basic weighted average shares of Class A Common Stock outstanding 715,772 640,662 349,213 
Add: Dilutive effects of Convertible Senior Notes— 29,408 27,710 
Add: Dilutive effects of equity awards
15,203 14,422 12,173 
Diluted weighted average shares of Class A Common Stock outstanding 730,975 684,492 389,096 
Basic net earnings per share of Class A Common Stock
$1.31 $1.54 $1.36 
Diluted net earnings per share of Class A Common Stock
$1.28 $1.45 $1.24 
The following table presents shares excluded from the diluted earnings per share calculation for the periods presented as their impact was anti-dilutive:
Year Ended December 31,
(in thousands)202520242023
Weighted average shares of Class C Common Stock 94,632 144,566 248,511 
Convertible Senior Notes
20,922 — — 
Performance stock units1,006 208 29 
Restricted stock1,322 172 55 
Out-of-the-money stock options261 444 1,260 

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Feb 26, 2025
2023Feb 29, 2024
2022Feb 24, 2023
2021Feb 24, 2022
2020Feb 24, 2021
2019Feb 24, 2020
2018Feb 25, 2019

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.

Other Available Disclosures

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