Earnings Per Share

12 Months Ended

Dec. 31, 2025

Note 11 – Earnings 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 per share is presented for the period from after the IPO, January 16, 2025, to December 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 per share has not been presented for the period of the years prior to the IPO.

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)	Period from January 16, 2025 to December 31, 2025
Numerator:
Net income attributable to Flowco Holdings, Basic	$	41,398
Add: Net income impact from assumed redemption of all LLC Interests to common stock		90,804
Less: Income tax expense on net income attributable to NCI at 22.2%		(20,158	)
Net income attributable to Flowco Holdings, Diluted	$	112,044

Denominator:
Weighted average shares of common stock outstanding, Basic		26,977,063
Dilutive effects of:
LLC Interests that are exchangeable to common stock		63,249,163
Unvested RSU's		446,795
Weighted average shares of common stock outstanding, Diluted		90,673,021

Basic earnings per share	$	1.53
Diluted earnings per share	$	1.24

Net income attributable to the redeemable non-controlling interests added back to net income in the fully dilutive computation has been adjusted for income taxes which would have been expensed had the income been recognized by the Company, a taxable entity. The weighted average common shares outstanding in the diluted computation per share assumes all outstanding LLC Interests are redeemed and exchanged with the shares of Class A common stock rather than cash-settle.

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