Earnings per share

6 Months Ended

Jun. 30, 2023

13.

Earnings per share

The following table presents the computation of earnings per share for the three and six months ended June 30, 2023 and the period from April 13 to June 30, 2022 (in thousands, except share and per share amounts):


	For the three months ended June 30,		For the period from April 13 – June 30,			For the six months ended June 30,		For the period from April 13 – June 30,
	2023		2022			2023		2022
Net income	$	29,556	$	(3,043	)	$	60,295	$	(3,043	)
Less net income attributable to non-controlling interest		23,588		(831	)		47,483		(831	)
Less net loss attributable to non-controlling interest – ENE Onshore		—		(181	)		—		(181	)
Net income attributable to shareholders – basic and diluted	$	5,968	$	(2,031	)	$	12,812	$	(2,031	)

Weighted average shares outstanding – basic		26,254,167		26,254,167			26,254,167		26,254,167
Dilutive effect of unvested restricted common stock		11,884		—			17,454		—
Dilutive effect of unvested performance stock units		261		—			1,269		—
Class B Common Stock converted to Class A Common Stock		—		—			—		—
Weighted average shares outstanding – diluted		26,266,312		26,254,167			26,272,890		26,254,167

Earnings per share
Basic	$	0.23	$	(0.08	)	$	0.49	$	(0.08	)
Diluted	$	0.23	$	(0.08	)	$	0.49	$	(0.08	)

The following table presents the common stock shares equivalents excluded from the calculation of diluted earnings per share for the three and six months ended June 30, 2023 and the period from April 13 to June 30, 2022, as they would have had an antidilutive effect:


	For the three months ended June 30,		For the period from April 13 – June 30,		For the six months ended June 30,		For the period from April 13 – June 30,
	2023		2022		2023		2022
Stock options		—		338,935		—		338,935
Restricted common stock		404		20,832		508		20,832
Performance stock units		1,156		—		—		—
Class B Common Stock		82,021,389		82,021,389		82,021,389		82,021,389