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Note 13 - Earnings Per Share
 9 Months Ended
Sep. 30, 2025
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 in the money restricted stock and the exercise of outstanding in the money stock options, as well as the satisfaction of certain contingent acquisition consideration conditions as of the end of the period. Refer to Note 4, “Redeemable Noncontrolling Interests,” of the Annual Report on Form 10-K for the year ended December 31, 2024, 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 September 30,

  

Nine Months Ended September 30,

 
  

2025

  

2024

  

2025

  

2024

 

Numerator

                

Net income attributable to Generac Holdings Inc.

 $66,161  $113,742  $184,017  $199,089 

Redemption value adjustment

  -   -   -   (2,686)

Net income attributable to common shareholders

 $66,161  $113,742  $184,017  $196,403 
                 

Denominator

                

Weighted average shares, basic

  58,263,218   59,493,640   58,604,097   59,720,597 

Dilutive effect of stock compensation awards (1)

  859,631   818,753   710,521   754,881 

Weighted average shares, diluted 

  59,122,849   60,312,393   59,314,618   60,475,478 
                 

Net income attributable to common shareholders per share

                

Basic

 $1.14  $1.91  $3.14  $3.29 

Diluted

 $1.12  $1.89  $3.10  $3.25 

 

(1) Excludes approximately 177,000 and 316,000 stock options and restricted stock awards for the three and nine months ended  September 30, 2025, respectively, and 430,000 and 440,000 stock options and restricted stock awards for the three and nine months ended  September 30, 2024, respectively, because they would be anti-dilutive.