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

9 Months Ended

Jul. 31, 2024

Note 16. Earnings Per Share

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

	*Three Months Ended July 31,*						*Nine Months Ended July 31,*
(in thousands, except per share amounts)	*2024*			*2023*			*2024*			*2023*
Net income (numerator):
Net income attributable to Concrete Pumping Holdings, Inc.	$	7,560		$	10,336		$	6,780		$	22,399
Less: Accretion of liquidation preference on preferred stock		(440	)		(441	)		(1,310	)		(1,309	)
Less: Undistributed earnings allocated to participating securities		(31	)		(323	)		(41	)		(751	)
Net income attributable to common stockholders (numerator for basic earnings per share)	$	7,089		$	9,572		$	5,429		$	20,339
Add back: Undistributed earning allocated to participating securities		31			323			41			751
Less: Undistributed earnings reallocated to participating securities		(31	)		(318	)		(41	)		(739	)
Numerator for diluted earnings per share	$	7,089		$	9,577		$	5,429		$	20,351

Weighted average shares (denominator):
Weighted average shares - basic		53,699			53,199			53,556			53,377
Weighted average shares - diluted		53,775			54,105			54,191			54,263

Basic earnings per share	$	0.13		$	0.18		$	0.10		$	0.38
Diluted earnings per share	$	0.13		$	0.18		$	0.10		$	0.38

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 July 31, 2024, 0.6 million of outstanding stock awards and options, and 2.5 million shares of Series A Preferred Stock were excluded. For the nine months ended July 31, 2024, 0.4 million of outstanding stock awards and options, and 2.5 million shares of Series A Preferred Stock were excluded. For the three and nine months ended July 31, 2023, 13.0 million warrants to purchase shares of common stock at an exercise price of $11.50, 1.1 million in outstanding stock awards and 2.5 million shares of Series A Preferred Stock were excluded.