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, 2021

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 March 31,				For the Six Months Ended March 31,
	2021		2020		2021		2020
Numerator
Net income (loss) attributable to common shareholders	$	(4,935)	$	1,537	$	2,936	$	6,998
Denominator
Weighted average number of common shares outstanding, basic	51,686,652		51,489,211		51,586,846		51,489,211
Net income (loss) per common share attributable to common shareholders, basic	$	(0.10)	$	0.03	$	0.06	$	0.14

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 March 31,				For the Six Months Ended March 31,
	2021		2020		2021		2020
Numerator
Net income (loss) attributable to common stockholders	$	(4,935)	$	1,537	$	2,936	$	6,998
Denominator
Weighted average number of basic common shares outstanding, basic	51,686,652		51,489,211		51,586,846		51,489,211
Effect of dilutive securities:

Restricted stock grants under 2018 Equity Incentive Plan	—		130,192		86,736		123,129
Weighted average number of diluted common shares outstanding	51,686,652		51,619,403		51,673,582		51,612,340
Net income (loss) per diluted common share attributable to common stockholders	$	(0.10)	$	0.03	$	0.06	$	0.14