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

9 Months Ended

Jun. 30, 2023

As discussed in Note 9 - Equity, the Company has Class A common stock and Class B common stock. Because the only differences between the two classes of common stock are related to voting rights, conversion rights and transfer restrictions applicable to shares of Class B common stock, the Company has not presented earnings per share under the two-class method, as the earnings per share are the same for both Class A common stock and Class B common stock. The following table summarizes the weighted-average number of basic common shares outstanding and the calculation of basic earnings per share for the periods presented (unaudited in thousands, except share and per share amounts):


	For the Three Months Ended June 30,				For the Nine Months Ended June 30,
	2023		2022		2023		2022
Numerator
Net income attributable to common stockholders	$	21,677	$	12,168	$	18,088	$	8,261
Denominator
Weighted average number of common shares outstanding, basic	51,827,448		51,793,245		51,826,578		51,760,384
Net income per common share attributable to common stockholders, basic	$	0.42	$	0.23	$	0.35	$	0.16

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 (unaudited in thousands, except share and per share amounts):


	For the Three Months Ended June 30,				For the Nine Months Ended June 30,
	2023		2022		2023		2022
Numerator
Net income attributable to common stockholders	$	21,677	$	12,168	$	18,088	$	8,261
Denominator
Weighted average number of basic common shares outstanding, basic	51,827,448		51,793,245		51,826,578		51,760,384
Effect of dilutive securities:

Restricted stock grants	466,398		95,266		287,860		168,043
Weighted average number of diluted common shares outstanding	52,293,846		51,888,511		52,114,438		51,928,427
Net income per diluted common share attributable to common stockholders	$	0.41	$	0.23	$	0.35	$	0.16