Earnings (Loss) per Share

3 Months Ended

Mar. 31, 2025

Note 13 – Earnings (Loss) per Share

Basic earnings per share is computed by dividing net income attributable to the Company by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share is computed by adjusting the net income available to the Company and the weighted average shares outstanding to give effect to potentially dilutive securities. Shares of Class B common stock are not entitled to receive any distributions or dividends and are therefore excluded from this presentation since they are not participating securities.

Earnings (loss) per share is presented for the period from after the IPO, January 16, 2025, to March 31, 2025. Prior to the IPO the membership structure consisted of Common Units and Class A Units. Flowco Holdings’ current capital structure is not reflective of the capital structure of Flowco LLC prior to the IPO and the Transactions. Therefore, earnings (loss) per share has not been presented for the period of the year prior to the IPO or for the three months ended March 31, 2024.

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted net income per share of Class A common stock for the periods following the Transactions (in thousands, except per share amounts):


(in thousands, except share and per share data)	For the Period from January 16, 2025 to March 31, 2025
Numerator:
Net income attributable to Flowco Holdings, Basic	$	6,172
Add: Net income impact from assumed redemption of all LLC Interests to common stock		—
Less: Income tax expense on net income attributable to NCI at 22.5%		—
Net income attributable to Flowco Holdings, Diluted	$	6,172

Denominator:
Weighted average shares of common stock outstanding, Basic		25,721,620
Dilutive effects of:
LLC Interests that are exchangeable to common stock		—
Unvested RSU's		465,644
Weighted average shares of common stock outstanding, Diluted		26,187,264

Basic earnings per share	$	0.24
Diluted earnings per share	$	0.24

The Company did not add back the net income attributable to the redeemable non-controlling interests above due to the antidilutive impact to the diluted earnings per share calculation. Accordingly, the weighted average common shares

outstanding in the diluted computation per share also excludes the inclusion of all outstanding LLC Interests assumed to be redeemed and exchanged with the shares of Class A common stock rather than cash-settle.

For the period from January 16, 2025, to March 31, 2025, the impact of LLC Interests assumed to be redeemed in exchange for the issuance of Class A common stock was antidilutive and has been properly excluded from the computation of diluted earnings per share under the if-converted method. The impact of unvested RSUs was dilutive and has been included using the treasury stock method.