Grocery Outlet Holding Corp.GO

Grocery Outlet Holding Corp. Earnings Per Share Disclosure

10-KFiled Feb 26, 20251 min read
Earnings Per Share
The following table sets forth the calculation of basic and diluted earnings per share (amounts in thousands, except per share data):
Fiscal Year Ended
December 28,
2024		December 30,
2023		December 31,
2022
Numerator
Net income and comprehensive income$39,465 $79,437 $65,052 
Denominator
Weighted-average shares outstanding - basic98,707 98,709 96,812 
Effect of dilutive options624 1,760 2,813 
Effect of dilutive RSUs and PSUs284 362 537 
Weighted-average shares outstanding - diluted (1)
99,615 100,831 100,162 
Earnings per share:
Basic$0.40 $0.80 $0.67 
Diluted$0.40 $0.79 $0.65 
_______________________
(1)We are required to include in diluted weighted-average shares outstanding contingently issuable shares that would be issued assuming the end of our reporting period was the end of the relevant PSU award contingency period.
The following weighted-average common share equivalents were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive (amounts in thousands):
Fiscal Year Ended
December 28,
2024		December 30,
2023		December 31,
2022
Stock options
370 — — 
RSUs691 34 98 
Total1,061 34 98 

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.

Other Available Disclosures

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