Quarterly report pursuant to Section 13 or 15(d)

Note 16 - Earnings Per Share

v3.24.0.1
Note 16 - Earnings Per Share
3 Months Ended
Jan. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 16. Earnings Per Share

 

The table below shows our basic and diluted EPS calculations for the three months ended January 31, 2024 and 2023:

 

   

Three Months Ended January 31,

 

(in thousands, except share and per share amounts)

 

2024

   

2023

 

Net income (loss) (numerator):

               

Net income (loss) attributable to Concrete Pumping Holdings, Inc.

  $ (3,826 )   $ 6,475  

Less: Accretion of liquidation preference on preferred stock

    (440 )     (441 )

Less: Undistributed earnings allocated to participating securities

    -       (235 )

Net income (loss) attributable to common stockholders (numerator for basic earnings per share)

  $ (4,266 )   $ 5,799  

Add back: Undistributed earning allocated to participating securities

    -       235  

Less: Undistributed earnings reallocated to participating securities

    -       (232 )

Numerator for diluted earnings (loss) per share

  $ (4,266 )   $ 5,802  
                 

Weighted average shares (denominator):

               

Weighted average shares - basic

    53,314,654       53,601,707  

Weighted average shares - diluted

    53,314,654       54,457,125  
                 

Basic earnings (loss) per share

  $ (0.08 )   $ 0.11  

Diluted earnings (loss) per share

  $ (0.08 )   $ 0.11  

 

For the three months ended January 31, 2024, 2.5 million shares of Series A Preferred Stock, 0.5 million of unvested restricted stock awards, 1.1 million of unexercised stock options and 0.2 million outstanding unexercised non-qualified stock options were excluded from the computation of diluted EPS because their effect would have been anti-dilutive.

 

For the three months ended January 31, 2023, 13.0 million warrants to purchase shares of common stock at an exercise price of $11.50, 2.5 million shares of Series A Preferred Stock, and 2.0 million of unvested restricted stock awards were excluded from the computation of diluted EPS because their effect would have been anti-dilutive.