Pure Cycle Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

3 Months Ended

Nov. 30, 2024

NOTE 12 – EARNINGS PER SHARE

Earnings per share (“EPS”) is calculated by dividing net income attributable to common shareholders by the weighted-average shares of common stock outstanding during the period. Certain outstanding options are excluded from the diluted EPS calculation because they are anti-dilutive (i.e., their assumed conversion into common stock would increase rather than decrease EPS). For the three months ended November 30, 2024 and 2023, the Company excluded 404,060 options and 487,882 options because their impact was anti-dilutive.


	Three Months Ended
(In thousands, except share and per share amounts)	November 30, 2024		November 30, 2023
Net income	$	3,937	$	2,065

Basic weighted average common shares		24,071,907		24,078,544
Effect of dilutive securities		85,440		75,118
Weighted average shares applicable to diluted earnings per share		24,157,347		24,153,662

Earnings per share - basic	$	0.16	$	0.09
Earnings per share - diluted	$	0.16	$	0.09