Gulfport Energy Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2026

Basic income or loss per share attributable to common stockholders is computed as (i) net income or loss less (ii) dividends paid to holders of preferred stock less (iii) net income or loss attributable to participating securities divided by (iv) weighted average basic shares outstanding. Diluted net income or loss per share attributable to common stockholders is computed as (i) basic net income or loss attributable to common stockholders plus (ii) diluted adjustments to income allocable to participating securities divided by (iii) weighted average diluted shares outstanding. The "if-converted" method is used to determine the dilutive impact for the Company's convertible preferred stock and the treasury stock method is used to determine the dilutive impact of unvested restricted stock.

There were 0.1 million and 0.1 million shares of restricted stock that were considered dilutive for the three and six months ended June 30, 2026, respectively. There were 0.2 million and 0.2 million shares of restricted stock that were considered dilutive for the three and six months ended June 30, 2025, respectively. There were 2.2 million potential shares of common stock issuable due to the Company's convertible preferred stock as of June 30, 2025. The Company redeemed all outstanding preferred stock on September 5, 2025.

Reconciliations of the components of basic and diluted net income (loss) per common share are presented in the tables below (in thousands):


	Three Months Ended June 30, 2026		Three Months Ended June 30, 2025
Net income	$	87,102	$	184,466
Dividends on preferred stock	—		(804)
Participating securities - preferred stock(1)	—		(20,622)
Net income attributable to common stockholders	$	87,102	$	163,040
Re-allocation of participating securities	—		205
Diluted net income attributable to common stockholders	$	87,102	$	163,245
Basic Shares	17,895		17,707
Dilutive Shares	17,945		17,907
Basic EPS	$	4.87	$	9.21
Dilutive EPS	$	4.85	$	9.12

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(1) Preferred stock represents participating securities because it participates in any dividends on shares of common stock on a pari passu, pro rata basis. However, preferred stock does not participate in undistributed net losses. The Company redeemed all outstanding preferred stock on September 5, 2025.


	Six Months Ended June 30, 2026		Six Months Ended June 30, 2025
Net income	$	252,924	$	184,002
Dividends on preferred stock	—		(1,666)
Participating securities - preferred stock(1)	—		(20,385)
Net income attributable to common stockholders	$	252,924	$	161,951
Re-allocation of participating securities	—		217
Diluted net income attributable to common stockholders	$	252,924	$	162,168
Basic Shares	18,222		17,793
Dilutive Shares	18,306		18,009
Basic EPS	$	13.88	$	9.10
Dilutive EPS	$	13.82	$	9.01

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