Concrete Pumping Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 16 - Earnings Per Share

Note 16 - Earnings Per Share

6 Months Ended

Apr. 30, 2024

Note 16. Earnings Per Share

The table below shows our basic and diluted EPS calculations for the three and six months ended April 30, 2024 and 2023:

	*Three Months Ended April 30,*						*Six Months Ended April 30,*
(in thousands, except per share amounts)	*2024*			*2023*			*2024*			*2023*
Net income (loss) (numerator):
Net income attributable to Concrete Pumping Holdings, Inc.	$	3,046		$	5,588		$	(780	)	$	12,063
Less: Accretion of liquidation preference on preferred stock		(430	)		(427	)		(870	)		(868	)
Less: Undistributed earnings allocated to participating securities		(38	)		(184	)		-			(418	)
Net income (loss) attributable to common stockholders (numerator for basic earnings per share)	$	2,578		$	4,977		$	(1,650	)	$	10,777
Add back: Undistributed earning allocated to participating securities		38			184			-			418
Less: Undistributed earnings reallocated to participating securities		(37	)		(181	)		-			(412	)
Numerator for diluted earnings (loss) per share	$	2,579		$	4,980		$	(1,650	)	$	10,783

Weighted average shares (denominator):
Weighted average shares - basic		53,430			53,330			53,501			53,468
Weighted average shares - diluted		54,380			54,225			53,501			54,343

Basic earnings (loss) per share	$	0.05		$	0.09		$	(0.03	)	$	0.20
Diluted earnings (loss) per share	$	0.05		$	0.09		$	(0.03	)	$	0.20

Certain outstanding stock awards and options, preferred stock and warrants were excluded from the diluted earnings per share calculation for the periods presented because they were anti-dilutive. For the three months ended April 30, 2024, 0.5 million of outstanding stock awards and options, and 2.5 million shares of Series A Preferred Stock were excluded.

For the six months ended April 30, 2024, 1.9 million of outstanding stock awards and options, and 2.5 million shares of Series A Preferred Stock were excluded.

For the three and six months ended April 30, 2023, 13.0 million warrants to purchase shares of common stock at an exercise price of $11.50, 1.2 million in outstanding stock awards and 2.5 million shares of Series A Preferred Stock were excluded.