HF Foods Group Inc.HFFG

HF Foods Group Inc. Earnings Per Share Disclosure

10-KFiled Jan 31, 20232 min read
NOTE 13 - EARNINGS (LOSS) PER SHARE
The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260 (“ASC 260”), Earnings per Share. ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS, but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options, warrants and restricted stock) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. There were 21,288 potential common shares related to total shareholder return performance-based restricted stock units that were excluded from the calculation of diluted EPS for the year ended December 31, 2021 because their effect would have been anti-dilutive. There were no anti-dilutive potential common shares for the years ended December 31, 2020 and 2019. The following table sets forth the computation of basic and diluted EPS:
Year Ended December 31,
($ in thousands, except share and per share data)202120202019
Numerator:(As Restated)(As Restated)
Net income (loss) attributable to HF Foods Group Inc.$22,145 $(343,512)$4,974 
Denominator:
Weighted-average common shares outstanding51,918,323 52,095,585 27,113,288 
Effect of dilutive securities173,499 — — 
Weighted-average dilutive shares outstanding52,091,822 52,095,585 27,113,288 
Earnings (loss) per common share:
Basic$0.43 $(6.59)$0.18 
Diluted$0.43 $(6.59)$0.18 
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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

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsNew StandardsPay vs Performance