Key Energy Services Just Filed Its Quarterly Report: LOSS PER SHAREBasic ...

LOSS PER SHARE
Basic loss per share is determined by dividing net loss attributable to Key by the weighted average number of common shares actually outstanding during the period. Diluted loss per common share is based on the increased number of shares that would be outstanding assuming conversion of potentially dilutive outstanding securities using the treasury stock and “as if converted” methods.
The components of our loss per share are as follows (in thousands, except per share amounts):
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2019
 
2018
 
2019
 
2018
Basic and Diluted EPS Calculation:
 
 
 
 
 
 
 
Numerator
 
 
 
 
 
 
 
Net loss
$
(25,489
)
 
$
(23,860
)
 
$
(67,233
)
 
$
(65,718
)
Denominator
 
 
 
 
 
 
 
Weighted average shares outstanding
20,443

 
20,252

 
20,398

 
20,234

Basic and diluted loss per share
$
(1.25
)
 
$
(1.18
)
 
$
(3.30
)
 
$
(3.25
)

Restricted stock units (“RSUs”), stock options, and warrants are included in the computation of diluted earnings per share using the treasury stock method. Restricted stock awards are legally considered issued and outstanding when granted and are included in basic weighted average shares outstanding.
The company has issued potentially dilutive instruments such as RSUs, stock options, and warrants. However, the company did not include these instruments in its calculation of diluted loss per share during the periods presented, because to include them would be anti-dilutive. The following table shows potentially dilutive instruments (in thousands):
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2019
 
2018
 
2019
 
2018
RSUs
1,882

 
1,078

 
1,994

 
1,367

Stock options
54

 
159

 
74

 
163

Warrants
1,838

 
1,838

 
1,838

 
1,838

Total
3,774

 
3,075

 
3,906

 
3,368


No events occurred after September 30, 2019 that would materially affect the number of weighted average shares outstanding.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Entry into a Material Definitive - May 22, 2020
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