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Note 13 - Earnings Per Share
 6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

13. Earnings Per Share

 

Basic earnings per share is calculated by dividing net income attributable to the common shareholders of the Company by the weighted average number of common shares outstanding during the period, exclusive of restricted shares. Except where the result would be anti-dilutive, diluted earnings per share is calculated by assuming the vesting of unvested restricted stock and the exercise of outstanding stock options, as well as the satisfaction of certain contingent acquisition consideration conditions as of the end of the period. Refer to Note 3, “Redeemable Noncontrolling Interest,” to the condensed consolidated financial statements for further information regarding the accounting for redeemable noncontrolling interests within earnings per share.

 

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2024

  

2023

  

2024

  

2023

 

Numerator

                

Net income attributable to Generac Holdings Inc.

 $59,115  $45,198  $85,347  $57,628 

Redeemable noncontrolling interest redemption value adjustment

  -   (1,821)  (2,686)  (10,837)

Net income attributable to common shareholders

 $59,115  $43,377  $82,661  $46,791 
                 

Denominator

                

Weighted average shares, basic

  59,880,336   61,721,614   59,854,131   61,645,341 

Dilutive effect of stock compensation awards (1)

  761,404   626,570   705,773   784,570 

Dilutive effect of contingently issued shares

  -   -   -   - 

Diluted shares

  60,641,740   62,348,184   60,559,904   62,429,911 
                 

Net income attributable to common shareholders per share

                

Basic

 $0.99  $0.70  $1.38  $0.76 

Diluted

 $0.97  $0.70  $1.36  $0.75 

 

(1) Excludes approximately 471,000 and 440,000 stock options and restricted stock awards for the three months and six months ended June 30, 2024, respectively, and 393,000 and 360,000 stock options and restricted stock awards for the three months and six months ended June 30, 2023, respectively, because they would be anti-dilutive.