Ingevity Corp Earnings Per Share Disclosure
| Years Ended December 31, | |||||||||||||||||
| In millions (except share (in thousands) and per share data) | 2025 | 2024 | 2023 | ||||||||||||||
| Net income (loss) from continuing operations | $ | (150.3) | $ | (121.4) | $ | 105.8 | |||||||||||
| Net income (loss) from discontinued operations | (16.8) | (308.9) | (111.2) | ||||||||||||||
| Net income (loss) | $ | (167.1) | $ | (430.3) | $ | (5.4) | |||||||||||
| Basic and Diluted earnings (loss) per share | |||||||||||||||||
| Basic earnings (loss) per share from continuing operations | $ | (4.15) | $ | (3.34) | $ | 2.90 | |||||||||||
| Basic earnings (loss) per share from discontinued operations | (0.46) | (8.51) | (3.05) | ||||||||||||||
Basic earnings (loss) per share (1) | $ | (4.61) | $ | (11.85) | $ | (0.15) | |||||||||||
| Diluted earnings (loss) per share from continuing operations | $ | (4.15) | $ | (3.34) | $ | 2.88 | |||||||||||
| Diluted earnings (loss) per share from discontinued operations | (0.46) | (8.51) | (3.03) | ||||||||||||||
Diluted earnings (loss) per share (1) | $ | (4.61) | $ | (11.85) | $ | (0.15) | |||||||||||
| Shares | |||||||||||||||||
| Weighted average number of shares of common stock outstanding - Basic | 36,222 | 36,323 | 36,496 | ||||||||||||||
Weighted average additional shares assuming conversion of potential common shares (2) | — | — | 210 | ||||||||||||||
| Shares - diluted basis | 36,222 | 36,323 | 36,706 | ||||||||||||||
| Years Ended December 31, | |||||||||||||||||
| In thousands | 2025 | 2024 | 2023 | ||||||||||||||
| Average number of potential common shares - antidilutive | 654 | 444 | 361 | ||||||||||||||
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.