Summit Midstream Corp Earnings Per Share Disclosure
| Year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
(In thousands, except per-share amounts) | |||||||||||||||||
Numerator for basic and diluted EPS: | |||||||||||||||||
| Net loss | $ | (1,906) | $ | (113,175) | $ | (38,947) | |||||||||||
| Less: Net income attributable to Subsidiary Series A Preferred Units | (14,863) | (14,806) | (12,581) | ||||||||||||||
| Net loss attributable to noncontrolling interest | 10,831 | 5,822 | — | ||||||||||||||
| Net loss attributable Summit Midstream Corporation | (5,938) | (122,159) | (51,528) | ||||||||||||||
Less: Net income attributable to Series A Preferred Stock | (13,631) | (13,337) | (11,566) | ||||||||||||||
| Net loss attributable to common equity holders | $ | (19,569) | $ | (135,496) | $ | (63,094) | |||||||||||
Denominator for basic and diluted EPS: | |||||||||||||||||
Weighted-average number of shares outstanding – basic | 12,133 | 10,600 | 10,334 | ||||||||||||||
Effect of nonvested restricted stock units | — | — | — | ||||||||||||||
Effect of assumed conversion and elimination of noncontrolling interest net income | — | — | — | ||||||||||||||
Weighted-average number of shares outstanding – diluted | 12,133 | 10,600 | 10,334 | ||||||||||||||
Net Loss per share: | |||||||||||||||||
Common Stock – basic | $ | (1.61) | $ | (12.78) | $ | (6.11) | |||||||||||
Common Stock – diluted | $ | (1.61) | $ | (12.78) | $ | (6.11) | |||||||||||
Class B Common Stock – basic and diluted | $ | — | $ | — | $ | — | |||||||||||
Nonvested anti-dilutive restricted shares excluded from the calculation of diluted EPS | 437 | 546 | 245 | ||||||||||||||
Class B Common Stock | 6,527 | 592 | — | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 11, 2025 | |
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.