Earnings per Share

12 Months Ended

Dec. 31, 2024

13. EARNINGS PER SHARE

The calculation of earnings per share ("EPS") for our Class A common stock is as follows:


	Year Ended December 31,
	2024			2023			2022
Numerator:
Net income (loss) attributable to ProFrac Holding Corp.	$	(215.1	)	$	(97.7	)	$	91.5
Adjust Series A redeemable convertible preferred stock to its maximum redemption value		(4.8	)		(9.8	)		—
Net income (loss) used for basic earnings per Class A common share		(219.9	)		(107.5	)		91.5
Net income reallocated to dilutive Class A common shares		—			—			0.2
Net income (loss) used for diluted earnings per Class A common share	$	(219.9	)	$	(107.5	)	$	91.7

Denominator:
Weighted average Class A common shares		159.9			130.9			44.3
Dilutive potential of employee restricted stock units		—			—			0.2
Weighted average Class A common shares — diluted		159.9			130.9			44.5

Basic and diluted earnings per Class A common share	$	(1.38	)	$	(0.82	)	$	2.06

Antidilutive shares:
Common stock equivalents related to Preferred Stock		2.7			2.5			—
Employee restricted stock units which are antidilutive due to net loss position		0.1			0.2			—
Total antidilutive shares		2.8			2.7			—

The basic and diluted earnings per share (“EPS”) for the year ended December 31, 2022, represents only the period from the IPO date of May 17, 2022, to December 31, 2022, which represents the period wherein the Company had outstanding Class A common stock.

The dilutive potential of employee restricted stock units was calculated using the treasury stock method. The dilutive potential of our Preferred Stock is calculated using the if-converted method.