FutureFuel Corp. Earnings Per Share Disclosure
| Earnings per share |
In the years ended December 31, 2025, 2024 and 2023, the Company used the treasury method in computing earnings per share as all shares with participating security holders had vested.
The Company has outstanding restricted stock units (“RSUs”) issued in 2024, for 750,000 shares which provide the holder with a non-forfeitable right to receive dividends on the full amount, even prior to vesting. The RSUs, and related dividends, vest in five equal installments on each anniversary of the award date. There were no other outstanding RSUs for the years ended December 31, 2025, 2024 and 2023.
Basic and diluted earnings per common share were computed as follows:
| Years ended December 31: | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| Numerator: | ||||||||||||
| Net (loss) income | $ | (49,397 | ) | $ | 15,503 | $ | 37,382 | |||||
| Denominator: | ||||||||||||
| Weighted average shares outstanding – basic | 43,861,438 | 43,765,757 | 43,763,243 | |||||||||
| Effect of dilutive securities: | ||||||||||||
| Stock options | - | - | 1,440 | |||||||||
| Weighted average shares outstanding – diluted | 43,861,438 | 43,765,757 | 43,764,683 | |||||||||
| Basic earnings per share | $ | (1.13 | ) | $ | 0.35 | $ | 0.85 | |||||
| Diluted earnings per share | $ | (1.13 | ) | $ | 0.35 | $ | 0.85 | |||||
The effect of incremental shares from the unvested RSUs and options to purchase the Company's common stock were not included in the calculation of EPS for the year ended December 31, 2025, as their inclusion would be anti-dilutive due to the reported net loss. Certain options to purchase the Company’s common stock were not included in the computation of diluted earnings per share for the years ended December 31, 2024, and 2023 because they were anti-dilutive in the period. The weighted number of options excluded was 47,500, 44,000, and 40,060, respectively.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
| 2023 | Mar 14, 2024 | |
| 2022 | Mar 14, 2023 | |
| 2021 | Mar 15, 2022 | |
| 2020 | Mar 16, 2021 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.