Alico, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

Earnings Per Common Share

6 Months Ended

Mar. 31, 2023

Note 8. Earnings Per Common Share

Basic earnings per share for Alico's common stock is calculated by dividing net (loss) income attributable to Alico, Inc. common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per common share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of common shares issuable under equity-based compensation plans in accordance with the treasury stock method, except where the inclusion of such common shares would have an anti-dilutive impact.

For the three and six months ended March 31, 2023 and 2022, basic and diluted earnings per common share were as follows:


(in thousands except per share amounts)	Three Months Ended March 31,					Six Months Ended March 31,
	2023			2022		2023			2022
Net (loss) income attributable to Alico, Inc. common stockholders	$	(7,787	)	$	20,702	$	(10,937	)	$	30,833

Weighted average number of common shares outstanding – basic		7,599			7,552		7,596			7,543
Dilutive effect of equity-based awards		—			4		—			5
Weighted average number of common shares outstanding – diluted		7,599			7,556		7,596			7,548

Net (loss) income per common share attributable to Alico, Inc. common stockholders:
Basic	$	(1.02	)	$	2.74	$	(1.44	)	$	4.09
Diluted	$	(1.02	)	$	2.74	$	(1.44	)	$	4.08

For the three and six months ended March 31, 2023 and 2022 there were no anti-dilutive equity awards excluded from the calculation of diluted earnings per common share.

Common stock equivalents are not included in the computation of diluted earnings per share when the Company reports a loss because to do so would be anti-dilutive for periods presented, so only the basic weighted average number of common shares are used in the computations.