Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.24.1.1.u2
Earnings per Share
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Earnings per Share

NOTE 8. EARNINGS PER SHARE

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

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

Net income attributable to ProFrac Holding Corp.

 

$

1.8

 

 

$

22.0

 

Adjust Series A preferred stock to its maximum redemption value

 

 

(1.2

)

 

 

—

 

Net income used for basic earnings per Class A common share

 

 

0.6

 

 

 

22.0

 

Net income reallocated to dilutive Class A common shares

 

 

—

 

 

 

0.1

 

Net income used for diluted earnings per Class A common share

 

$

0.6

 

 

$

22.1

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

Weighted average Class A common shares

 

 

159.5

 

 

 

54.5

 

Dilutive potential of employee restricted stock units

 

 

0.3

 

 

 

0.4

 

Weighted average Class A common shares — diluted

 

 

159.8

 

 

 

54.9

 

 

 

 

 

 

 

 

Basic and diluted earnings per Class A common share

 

$

0.00

 

 

$

0.40

 

 

The dilutive potential of employee restricted stock units is calculated using the treasury stock method.

The dilutive potential of our Preferred Stock is calculated using the if-converted method. At March 31, 2024, there were 2.6 million common stock equivalents related to Preferred Stock that were not included in diluted earnings per share because the effect of their inclusion would be antidilutive.