ProPetro Holding Corp.PUMP

ProPetro Holding Corp. Earnings Per Share Disclosure

10-KFiled Feb 19, 20262 min read
NET INCOME (LOSS) PER SHARE
Basic net income (loss) per common share is computed by dividing the net income (loss) relevant to the common stockholders by the weighted-average number of shares outstanding during the year. Diluted net income (loss) per common share uses the same net income (loss) divided by the sum of the weighted-average number of shares of common stock outstanding during the period, plus dilutive effects of options, performance stock units (“PSUs”) and restricted stock units (“RSUs”) outstanding during the period calculated using the treasury method and the potential dilutive effects of preferred stocks (if any) calculated using the if-converted method.
(in thousands, except for per share data)
Year Ended December 31,
202520242023
Numerator (both basic and diluted)
Net income (loss) relevant to common stockholders$824 $(137,859)$85,634 
Denominator
Denominator for basic net income (loss) per share103,838 105,469 113,004 
Dilutive effect of stock options— — — 
Dilutive effect of performance stock units502 — 42 
Dilutive effect of restricted stock units1,058 — 370 
Denominator for diluted net income (loss) per share105,398 105,469 113,416 
Basic net income (loss) per common share0.01 (1.31)0.76 
Diluted net income (loss) per common share0.01 (1.31)0.76 
As shown in the table below, the following stock options, RSUs and PSUs outstanding as of December 31, 2025, 2024, and 2023 have not been included in the calculation of diluted income (loss) per common share for the years ended December 31, 2025, 2024, and 2023 because they would be anti-dilutive to the calculation of diluted net income (loss) per common share:
(in thousands)
Year Ended December 31,
202520242023
Stock options164 179 286 
Restricted stock units14 1 82 
Performance stock units463 — 411 
  Total641 180 779 
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Historical Timeline

Fiscal YearFiled
2025Feb 19, 2026Showing above
2024Feb 20, 2025
2023Mar 13, 2024
2022Feb 23, 2023
2019Jun 22, 2020
2018Mar 1, 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

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsStock CompensationNew Standards