Income (Loss) Per Share

6 Months Ended

Jun. 30, 2024

The table below provides the computation for basic and diluted income (loss) per share.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023

	(Thousands, except per share amounts)
Net income (loss) attributable to EQT Corporation – Basic income (loss) available to shareholders	$	9,517	$	(66,626)	$	113,005	$	1,151,922
Add back: Interest expense on Convertible Notes, net of tax (a)	—		—		114		3,691
Diluted income (loss) available to shareholders	$	9,517	$	(66,626)	$	113,119	$	1,155,613

Weighted average common stock outstanding – Basic	441,968		361,982		440,714		361,721
Options, restricted stock, performance awards and stock appreciation rights (a)	2,953		—		3,438		3,455
Convertible Notes (a)	—		—		741		28,259
Weighted average common stock outstanding – Diluted	444,921		361,982		444,893		393,435

Income (loss) per share of common stock attributable to EQT Corporation:
Basic	$	0.02	$	(0.18)	$	0.26	$	3.18
Diluted	$	0.02	$	(0.18)	$	0.25	$	2.94

(a)In periods when the Company reports a net loss, all options, restricted stock, performance awards and stock appreciation rights are excluded from the calculation of diluted weighted average shares outstanding because of their anti-dilutive effect on loss per share. As a result, for the three months ended June 30, 2023, all such securities of 4.7 million were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share.

In addition, prior to the Company's redemption of the Convertible Notes, the Company used the if-converted method to calculate the impact of the Convertible Notes on diluted income (loss) per share. For the three months ended June 30, 2023, such if-converted securities of approximately 28.3 million as well as the related add back of interest expense on the Convertible Notes, net of tax, were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share.