Earnings Per Share

9 Months Ended

Sep. 30, 2025

Note 13—Earnings Per Share

The following table presents a reconciliation of income from operations used in the basic and diluted earnings per share (“EPS”) calculations ($ in thousands, except for per share data):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Net income (loss)	$	274	$	91,469	$	(47,492)	$	14,521
Net (income) loss from operations attributable to noncontrolling interests		1,525		429		2,379		1,281
Net income (loss) allocable to common shareholders	$	1,799	$	91,898	$	(45,113)	$	15,802


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Earnings allocable to common shares:
Numerator for basic and diluted earnings per share:
Net income (loss) allocable to common shareholders	$	1,799	$	91,898	$	(45,113)	$	15,802

Denominator for basic and diluted earnings per share:
Weighted average common shares outstanding for basic and diluted earnings per common share		13,169		13,320		13,266		13,320

Basic and diluted earnings per common share:
Net income (loss) allocable to common shareholders	$	0.14	$	6.90	$	(3.40)	$	1.19

Star Holdings 10-Q