TALOS ENERGY INC. Earnings Per Share Disclosure
Note 13 — Income (Loss) Per Share
Basic earnings per common share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Except when the effect would be antidilutive, diluted earnings per common share includes the impact of RSUs and PSUs.
The following table presents the computation of the Company’s basic and diluted income (loss) per share attributable to common stockholders (in thousands, except for the per share amounts):
|
Year Ended December 31, |
|
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|
2025 |
|
2024 |
|
2023 |
|
|||
Net income (loss) attributable to Talos Energy Inc. |
$ |
(494,290 |
) |
$ |
(76,393 |
) |
$ |
187,332 |
|
|
|
|
|
|
|
|
|||
Weighted average common shares outstanding — basic |
|
175,136 |
|
|
175,605 |
|
|
119,894 |
|
Dilutive effect of securities |
|
— |
|
|
— |
|
|
858 |
|
Weighted average common shares outstanding — diluted |
|
175,136 |
|
|
175,605 |
|
|
120,752 |
|
|
|
|
|
|
|
|
|||
Net income (loss) per share attributable to common stockholders: |
|
|
|
|
|
|
|||
Basic |
$ |
(2.82 |
) |
$ |
(0.44 |
) |
$ |
1.56 |
|
Diluted |
$ |
(2.82 |
) |
$ |
(0.44 |
) |
$ |
1.55 |
|
Anti-dilutive potentially issuable securities excluded from diluted common shares |
|
3,581 |
|
|
2,084 |
|
|
1,353 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Mar 11, 2021 | |
| 2018 | Mar 13, 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.