Basic and Diluted Earnings per Share

3 Months Ended

Mar. 31, 2024


Note 17 – Basic and Diluted Earnings (Loss) per Share

Basic earnings or loss per share excludes common stock equivalents and is calculated by dividing net income or loss attributable to Ocwen common stockholders by the weighted average number of common shares outstanding during the period. We calculate diluted earnings or loss per share by dividing net income or loss attributable to Ocwen by the weighted average number of common shares outstanding including the potential dilutive common shares related to outstanding restricted stock awards, stock options and warrants as determined using the treasury stock method. For the three months ended March 31, 2023, we have excluded the effect of all stock options, common stock awards, and warrants from the computation of diluted loss per share because of the anti-dilutive effect of our reported net loss.


	Three Months Ended March 31,
	2024		2023
Basic earnings (loss) per share
Net income (loss)	$	30.1	$	(40.2)

Weighted average shares of common stock outstanding	7,711,534		7,533,561

Basic earnings (loss) per share	$	3.91	$	(5.34)

Diluted earnings (loss) per share
Net income (loss)	$	30.1	$	(40.2)

Weighted average shares of common stock outstanding	7,711,534		7,533,561
Effect of dilutive elements
Common stock warrants	68,584		—
Stock option awards	—		—
Common stock awards	266,070		—

Dilutive weighted average shares of common stock	8,046,188		7,533,561

Diluted earnings (loss) per share	$	3.74	$	(5.34)

Stock options and common stock awards excluded from the computation of diluted earnings (loss) per share
Anti-dilutive (1)	31,944		34,657
Market-based (2)	188,344		56,281

(1)Includes stock options and stock awards that are anti-dilutive based on the application of the treasury stock method.

(2)Shares that are issuable upon the achievement of certain market-based performance criteria related to Ocwen’s stock price.