Earnings per share

3 Months Ended

Mar. 31, 2025

NOTE 7 – Earnings per share

Our earnings per share (basic and diluted) are presented below (in thousands, except per share amounts):


	Quarter ended Mar. 31,
	2025			2024

Net income	$	58,307		$	189,262
Net loss attributable to the noncontrolling interest		364			298
Adjustment of redeemable noncontrolling interest to redemption value		(755	)		(660	)
Earnings available to common shareholders	$	57,916		$	188,900

Weighted average number of common shares outstanding - basic		160,849			177,823
Effect of dilutive securities:
Restricted stock units		783			438
Performance share awards		159			176
401(k) match shares		126			—
Weighted average number of common shares outstanding - diluted		161,917			178,437

Net income per share - basic	$	0.36		$	1.06
Net income per share - diluted	$	0.36		$	1.06

Beginning in 2025, we no longer make matching 401(k) contributions to our employees on a bi-weekly basis. Instead, we will make annual matching contributions in the first quarter of the following year, with the first such matching contributions to be made in the first quarter of 2026. We will continue to make the matching contribution in the form of TEGNA shares. We have included the dilutive impact of the 401(k) match that has been earned, but not yet contributed, in the dilutive shares calculation above.

Our calculation of diluted earnings per share includes the dilutive effects for the assumed vesting of outstanding restricted stock units and performance share awards. The diluted earnings per share amounts exclude the effects of approximately 70 thousand and 500 thousand stock awards for the three months ended March 31, 2025, and 2024, respectively, as their inclusion would be accretive to earnings per share.