Concrete Pumping Holdings, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 18 - Earnings Per Share

Note 18 - Earnings Per Share

12 Months Ended

Oct. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 18. Earnings Per Share

The table below shows our basic and diluted EPS calculations for the fiscal year ended October 31, 2024 and 2023:

	*Year Ended October 31,*
(in thousands, except per share amounts)	*2024*			*2023*
Net income (numerator):
Net income attributable to Concrete Pumping Holdings, Inc.	$	16,207		$	31,790
Less: Accretion of liquidation preference on preferred stock		(1,750	)		(1,750	)
Less: Undistributed earnings allocated to participating securities		(142	)		(1,017	)
Net income attributable to common stockholders (numerator for basic earnings per share)	$	14,315		$	29,023
Add back: Undistributed earning allocated to participating securities		142			1,017
Less: Undistributed earnings reallocated to participating securities		(141	)		(1,000	)
Numerator for diluted earnings per share	$	14,316		$	29,040

Weighted average shares (denominator):
Weighted average shares - basic		53,543			53,276
Weighted average shares - diluted		54,238			54,174

Basic earnings per share	$	0.27		$	0.54
Diluted earnings per share	$	0.26		$	0.54

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 twelve months ended October 31, 2024, 0.1 million of outstanding stock awards and options and 2.5 million shares of Series A Preferred Stock were excluded.

For the twelve months ended October 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 options, and 2.5 million shares of Series A Preferred Stock were excluded.