Construction Partners, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

Earnings per Share

6 Months Ended

Mar. 31, 2018

Note 9—Earnings per Share

Basic earnings per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period. The following summarizes the weighted-average number of basic common shares outstanding and the calculation of basic earnings per share for the periods presented (in thousands, except share and per share amounts):


	For the Three Months Ended March 31,				For the Six Months Ended March 31,
	2018		2017		2018		2017
Numerator
Net income attributable to common stockholders	$	11,248	$	2,800	$	22,244	$	7,361
Denominator
Weighted average number of basic common shares outstanding		41,717,024		41,502,490		41,704,071		41,502,490

Net income per basic common share attributable to common stockholders	$	0.27	$	0.07	$	0.53	$	0.18

Diluted earnings per share is calculated by dividing net income attributable to common stockholders by the weighted-average number of common shares and potential dilutive common shares outstanding during the period, determined using the treasury stock method. Securities are excluded from the calculation of diluted earnings per share for any period during which the effect of their inclusion would be anti-dilutive. The following table summarizes the calculation of the weighted-average number of diluted common shares outstanding and the calculation of diluted earnings per share for the periods presented (in thousands, except share and per share amounts):


	For the Three Months Ended March 31,				For the Six Months Ended March 31,
	2018		2017		2018		2017
Numerator
Net income attributable to common stockholders	$	11,248	$	2,800	$	22,244	$	7,361
Denominator
Weighted average number of basic common shares outstanding		41,717,024		41,502,490		41,704,071		41,502,490
Effect of dilutive securities:
2016 Equity Incentive Plan options		—		2,690		—		—
2010 Non-Plan Stock Options Agreement options		193,098		—		170,371		—

Weighted average number of diluted common shares outstanding:		41,910,122		41,505,180		41,874,442		41,502,490

Net income per diluted common share attributable to common stockholders	$	0.27	$	0.07	$	0.53	$	0.18

The Company had 63,000, 768,985, 63,000 and 958,035 common stock equivalents which were excluded from the calculation of diluted earnings per share for the three months ended March 31, 2018 and 2017 and the six months ended March 31, 2018 and 2017, respectively, because they were anti-dilutive.