W&T Offshore, Inc. Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

NOTE 10 — EARNINGS PER SHARE

The following table presents the calculation of basic and diluted (loss) earnings per common share (in thousands, except per share amounts):


	Three Months Ended March 31,
	2023		2022
Net income (loss)	$	26,005	$	(2,457)

Weighted average common shares outstanding - basic		146,418		142,942
Dilutive effect of securities		2,308		—
Weighted average common shares outstanding - diluted		148,726		142,942
Earnings per common share:
Basic	$	0.18	$	(0.02)
Diluted		0.17		(0.02)

Shares excluded due to being anti-dilutive (weighted average)		—		717